Re: dumb question - Landlord Forum thread

Re: dumb question by OK-LL on November 2, 2009 @07:43

Oh, to explain better, the 5% of the contract sales price is considered the limit of liquidated damages (damages too nebulus to specify) when a contract is broken. That's easier to support with argument in court than a larger amount, and that's the top end of what I would expect a tenant to be able to provide (you might want to collect less) -- if they had a lot of liquid cash, they'd be buying outright.

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