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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: California Equity Purchase Contract Posted by Ward-CA- on May 14, 2002 at 3:31 PM In Reply to: California Equity Purchase Contract posted by Gary on May 13, 2002 at 11:02 PM : I have seen where the 5 day right of recission afford distressed sellers with some protection. However, I have also seen where these same sellers are given the opportunity to shop your deal around to the highest bidder. Ward, what do you think of the idea of putting in a right-of-first-refusal clause to allow me, the buyer, to match any better written deals that the seller comes across? : Thanks, : Gary ============= Gary, I don't see anything wrong with a Right of 1st Refusal. But what's to prevent the seller from getting a friend to pose as another interested buyer and artifically goose up their sales price against you? And how do you logically up your price when you initially got them to agree to a lower price? Usually I find that such a right is used by a tenant who adds such a right to a rental contract such that if the owner ever gets an offer on the property during the tenancy they're obligated to give the tenant the first chance to buy on terms equal to the outside offer. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I have seen where the 5 day right of recission afford distressed sellers with some protection. However, I have also seen where these same sellers are given the opportunity to shop your deal around to the highest bidder. Ward, what do you think of the idea of putting in a right-of-first-refusal clause to allow me, the buyer, to match any better written deals that the seller comes across? : : Thanks, : : Gary : ============= : Gary, : I don't see anything wrong with a Right of 1st Refusal. But what's to prevent the seller from getting a friend to pose as another interested buyer and artifically goose up their sales price against you? : And how do you logically up your price when you initially got them to agree to a lower price? : Usually I find that such a right is used by a tenant who adds such a right to a rental contract such that if the owner ever gets an offer on the property during the tenancy they're obligated to give the tenant the first chance to buy on terms equal to the outside offer. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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