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Cross Cultural Negotiation
Cross cultural negotiation is one of many specialized areas within the wider field of cross cultural communications. By taking cross cultural negotiation training, negotiators and sales personnel give themselves an advantage over competitors. There is an ...
Haggling: Give Yourself A Raise
Haggling was a way of life for Mr. B. I knew Mr. B because his son was one of my friends. Hishaggling greatly embarrassed my friend, but it didn't bother Mr. B. He was saving money.Mr. B was a wonder. His distaste for paying retail was so ingrained he ...
Negotiating Real Estate - Go Slow
Why should you sometimes go slow when negotiating real estate deals? It's all about the power of time investment. Let me explain with a story. One of my less-pleasant experiences selling real estate was when I sold a home for a real decent guy, and the ...
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A buyer still has some wiggle room during the time the deal is under contract. There are a few time worn "weasel" clauses used by some investors. They will read something like, "Purchase is contingent upon approval of buyer's attorney." Or a more legitimate clause would be, "Purchase is contingent upon a home inspection report submitted by a licensed home inspector and approved by the buyer before the close. Inspection to be paid for by the buyer."
To be safe you want to be the one who pays the home inspector, so the inspector has no doubt about whom he/she is working for.
If the inspection indicates a need for substantial repairs the buyer can reopen negotiations with the seller. If they can't come to an agreement the buyer can simply disapprove of the inspection report and there is no deal.
Of course, there are many other things that could legitimately void a deal. How do you officially cancel a
deal? Something like the following statement could be submitted to the escrow officer:
1. The undersigned party hereby instructs Escrow Agent that Escrow Number ___________ hereby is canceled as a result of a Material Breach by the __________(buyer or seller).
2. The Material Breach is defined in lines ___________________ of the purchase agreement as follows: _________________________________________________________________ ___.
3. The Earnest Money is to be disbursed as follows: ________________________________.
4. The undersigned hereby affirms that I am not in breach under the terms of the purchase agreement.
____________________________ (Buyer's Signature)
The contracting of any deal is important and it must be carefully considered and executed. Experienced real estate agents may be capable of doing it, but it is always wise to at least have contracts reviewed by an attorney who specializes in real estate. They are "wiggle room" experts.
About the author:
Mark Walters coaches real estate investers with free online videos at http://www.CashFlowInstitute.com
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Sudan and South Sudan to resume negotiationsChristian Science MonitorAfter weeks of fighting, in which South Sudan took out one of Sudan's last remaining oil fields, the two countries are returning to the negotiation table, under African Union mediation. By Scott Baldauf, Staff writer / May 25, 2012 After a series of ...and more » |
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