Mark J. Podolsky explains how to use contingencies and escape clauses in purchase agreements to walk away from bad land deals. Remote location, poor condition, or high back taxes don't have to trap you if your contract has an out built in.
Hey, it's Mark Podolski, the land Geek with thelanegeek.com let's have another virtual cup of coffee together. So you're sending out your offers, you're getting your signed purchase agreements back, and all of a sudden you start doing your due diligence and the deal looks terrible. It's horrible. There's no access, or it's in the middle of nowhere, it's junky land, or the back taxes are too high. So I always get this question from my students. Well, how do you get out of this deal? In purchase agreement, there's always an out. There's always a contingency plan. There's always a way to get out of these deals. Otherwise it'd be a horrible, horrible way to get stuck with property. So we always have an out. There's always an escape plan. There's always a contingency in case you don't ever want to do the deal. So that is the value of those purchase agreements and those option agreements. So don't worry about it. You're never going to get stuck with a property that you just don't want to do the deal on. So if you want more tips, tricks, techniques on how to make an incredible income actively or passively with land notes, go to www.thelandgeek.com and download the Passive Income Blueprint. Get the ebook how to Avoid the three Fatal Land Buying Mistakes. And of course, get the always informative and engaging Lane Geek podcast, Work Smart, Earn More, Learn how delivered each week to your email inbox. This is Mark Podolsi, the Lane Geek. Thanks a lot for having another virtual cup of coffee with me. I'll see you another morning. Thanks.
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