[Adam Burrows]

Adam Burrows

Thanks! I think I can add that to the special provisions section in Jackie’s agreement template.

If you are able to find yours I’d be happy if you shared it for reference.

[Adam Burrows]

Adam Burrows

I imagine Realtors will advise the owners not to sign an option agreement? Can I put a commission in the contract for the Realtor?

Thanks

[Adam Burrows]

Adam Burrows

Mike,

No I meant Buyer. Let me expand more and rephrase.

Say I have a contract to buy from a Seller for $55,000. I find a Buyer and tell him $60,000 but he says the most he can pay is $55,000. Now I need to renegotiate with the Seller in order to make any money on this. What steps do I take to cancel the original contract to buy? Do I just modify the price and get everyone’s initials? Or does this require a new contract?

[Adam Burrows]

Adam Burrows

Thanks for the reply Mike.

To add to that scenario, let’s say I tell the Buyer $60,000 and he will only go as low as $55,000. I need to get the price lower from the seller in order to make profit. Do I have to write a new contract with the seller or do you alter the original contract? If you write a new contract I guess you would need to legally acknowledge the original is null and void?