Willing But Un-Able: Exclusivity Periods in Letters of Intent Can Be Problematic
With the intense competition today for “good deals,” choosing the right buyer can become increasingly more difficult. A new breed of suspiciously sketchy buyers has entered the market.
Traditionally, a prospective purchaser would make an offer, secured by a certain confidence that she would be able to obtain enough financing from a lender and had enough equity to cover the cost of the property and closing costs and enough reserves to get through a period of stabilization of the asset. Read More
