Weighing Defensive Clauses, Offensive Clauses — & No Clauses [Editor’s Note: Nothing in this post or on this blog should be construed as offering legal counsel. If you require legal advice, please consult an attorney.] “Home must appraise at or above sale price. If appraisal is below that amount, Buyer shall have the right to renegotiate this...Read More
Fill in Date [Here] As if to underscore the point, commercial real estate guys like to say, “As Is . . . Where Is.” I have my own suggested tweak: “Sold ‘As Is’ . . . As Of.” As in, “As of the date that the Buyer and Seller signed the contract.” Adding “As Of”...Read More
Homes That Can’t Be Bought or Sold “Sunk Cost“: A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business may face, such as inventory costs or R&D expenses, because it has already happened. Sunk costs are independent of any event that may...Read More
Checking “the List” — Again & Again He’s making a list,And checking it twice;Gonna find out Who’s naughty and nice.Santa Claus is coming to town –lyrics, “Santa Claus is Coming to Town” These days, lenders also seem to be “checking their list” twice — if not a whole lot more. The result? Deals that are...Read More
