2. illegal, but you see it all the time... if you want the house, turn on the utilities.
3. Completely legal, and I do see this commonly.
4. See # 1.
5. Check your due diligence period and make sure it's enough time for your lender... if it's not request an extension up-front... some banks will only grant an extension when the day has come and it is needed.
6. ...how long is your set close of escrow date? Is it enough time for the lender? Should be at least 3 weeks, recommended (unless this is a cash deal). Also, you'll often see the seller fail to close on or before this day, don't be surprised.
I had a counter similar with a company that wanted my client to release his Ernest money after 2 days of accepted contract along with other items that were potentially harmful for my client. And to add to this the seller was going to pay an additional fee to my broker if my client signed on the dotted line. Now that would mean I as the agent could gain more of a commission..
However, a reputable agent should always put the clients needs first and foremost..... Of course I recommended my client walk away from a poorly favored contract .
Helene M Moore
Windermere Prestige Properties
I would be signing this agreement with this clause in it.
David Cooper Investor 702-499-7037
Free Bank-Owned Foreclosure List
Did you speak with your buyer's agent? They should be able to advise you on this.
PS. Also before signing you need to review the "Seller Agent's waiver" to see if you are willing to accept those terms as well.
The Adams Team at
Rothwell Gornt Companies
Personally, I would not agree to those terms unless I was buying cash. Even then I would want #6 clarified because it doesn't make sense as written.
Have your friend talk to her/his realtor and get advice more specific and timely than I can give here.