"Look we need to move fast if we want to snag this property. Lets just put and offer in a little above asking and wave the contingencies. That'll take the place off the market through the weekend. We'll have three days to back out by claiming HOA docs."I guess this is a common practice these days. :\Always has been. Good news for you is that once someone actually goes to the effort of putting in a contract, they usually see it through, assuming their Realtor is at all capable of managing their client's emotions. This has always been a common encouragement to get buyers over the hurdle of putting in a contract. People generally don't back out because of HOA. Heck, most don't even look at the typical 100's of pages of documentation they receive.JAFO, many states have a mandatory timeframe for back out after receiving HOA docs. It is a state legal requirement in many places, rather than a discretionary clause in the contract. A good listing agent will have the docs on hand to give to the buyers with contract to minimize that time to back out. It can also cost quite a bit to get those docs, depending on the hoa.IP
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