Season 2 · Episode 67
Contract Negotiations: How To Minimize Renegotiations Once The Contract Is Executed
Between Two Chairs - Demystifying Commercial Real Estate · Fernando Arencibia, Jr. and Jennifer Wollmann
July 25, 202439m 31s
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Show Notes
There are 3 main timeframes in a contract where negotiation takes place:
- Negotiating the initial terms of the deal. Once buyer and seller agree, the contract is executed.
- Before the end of the due diligence period. Sometimes things come up during this time and buyer may feel like original price needs to be renegotiated based on findings.
- Before the end of the financing period. If the contract is dependent on financing and an appraisal, this is the third place where renegotiation may need to take place.
In this episode we discuss items that can come up during these three crucial points and what you can do to set up the buyer and seller to address those issues ahead of time to increase the likelihood of getting to a closing.