Protecting a Seller who Agrees to Extensive Repairs

by Nick 3. June 2013 13:23

I have heard a couple stories lately about buyers requesting a lot of repairs.

In one case, after a seller completed $10,000 in repairs requested by a buyer, the buyer decided to back out of the contract.

One way a seller could protect himself might be to ask the buyer to increase the earnest money when the seller is taking on a large additional expense and risk.

This way the buyer has more in the game, but it is still earnest money, so if the work is not done properly, the Buyer has leverage to get it done right.

Nick

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