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Re: Promise to Lease - Landlord Forum thread 348867

Re: Promise to Lease by Anonymous on October 21, 2016 @12:54

                              
You could have her sign a "holding fee" document (see LPA forms) that would hold the place until you are both ready. You could make the fee refundable in case you have an unforeseen delay. She would give you one months rent to hold the place off the market until its time to move forward.

A holding fee form is not a lease, and it is not a promise to lease, only a promise to hold the place. This is not legal advice. You might want to check with your lawyer to make sure it doesn't trip you up with Mass. law.
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Re: Promise to Lease by Anonymous (MA) on October 21, 2016 @19:33 [ Reply ]
I will definitely check out the holding fee document. I had never heard of it. As long as I don't sign a lease and give her the lead inspection/risk assessment report, I believe I'm okay. We will sign the lease as soon as the de-leading is done and I get my full compliance certificate. The inspector said I should go for full compliance because there is not a lot of work to do, and it's only going to take 5 days. 98% of it was upgrades I had planned to do anyway.

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