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Reply to "A question for agents and others re the legal position as it pertains to the closing date"
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[quote=Anonymous][quote=Anonymous] The buyers would not agree to a rent-back provision when the contract was signed. I advised the family member to put in a "best efforts" clause which is rarely used in RE contracts but which is sometimes used in commercial transactions. I am not an attorney but I have worked in M&A where this clause is occasionally used. This was a multiple bidding situation and [b]the buyer agreed to the "best efforts" clause on the advice of their agent.[/b] [/quote] This An agent who advises a buyer to accept such a clause should be sued.[/quote]
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