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Eliminate Paragraph 7 Investment Property Addendum

Eliminate Paragraph 7 Investment Property Addendum

1
3 months agoopen0

Buying Investment Property is more than just bricks and mortar. Requesting supporting documents when submitting an offer is necessary for analysis. The Sellers agree to provide them on the Investment Property Addendum. BUT paragraph 7 on that same document negates providing them. All the Seller has to do after mutual agreement is send an addendum stating that the Sellers won’t be providing the requested documents. Granted the Buyer has the opportunity to respond within 2 business day and thereby not be bound by the mutual agreement. But many investment buyers need to know at the time of making the offer. It seems a better way would be to eliminate Paragraph 7 and treat providing documents like other parts of the transaction. Sellers agree to provide the documents or submit a counter offer stating which ones they will provide. Leaving it to chance until after mutual agreement does not make good business sense.

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