In - Lieu of Transaction
The Business of Solving Real Estate Problems
Real Estate Exchanging
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Present Condition– As an exchangor you have some acreage that you would like to exchange for income producing property.
You have been offered a building lot zoned commercial, but it's not exactly what you're looking for.
Possible Resolution - you will find when you look at all possibilities they will lead to you to putting more deals together.
The "In-Lieu Of" agreement will work in this situation.
You could accept the offer of the commercial lot "In-lieu of" what you really want.
In this case what you are saying is I will take your property if I can successfully exchange it for an income producing property.
The "In Lieu Of" agreement reads first (or second party) accepts this agreement "In lieu of" receiving satisfactory property in lieu of the described (first or second party) party herein, by no later than, Date______________
What we know -
The essential ingredient to any real estate transaction is a willing seller and a willing buyer.
In real estate exchanging we need to find a "taker" for our property, regardless of what the "taker" is offering.
Benefits To You: You are now is position to offer both your property and the "takers" property for whatever you find will meet your needs.
Benefits To The Taker: The taker will end up with your acreage, as he will help you find a suitable property
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The Wonderful World of Real Estate
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Wayne H. Wagie
The Wonderful World of Real Estate
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