Looks like we have finally snagged a developer who is keen enough on our property to put it under contract.
Never had to deal with a Call Option Agreement. Do I need solicitor to look at it? Purchase price $1.7M $2000 initial deposit on signing. $10000 paid on due diligence $10000 paid on satisfaction of DA clause. Settlement to be 12 months after DA clause and exercise of option.
Not the 90 day REIQ contract. How long does due diligence take? How long does satisfaction of DA clause take?
Seems to me we could be waiting up to 2 years before we get our money!!! Even longer if they want an extension!!!
