Provided by:  Jennifer Kirschenbaum, Esq.

October 17, 2019

Question:

Jennifer, 

I have an opportunity to invest in a center and I have to put $10,000 down and rest in escrow waiting for state approval.   Should I do it? 

Thanks, 
Dr. O 

Answer:

Okay, just a minute...  I need to see the contract.  If you do not have a contract, none presented, answer is easy.  NO.  Hard pass.   

If you have a contract to show me, how much are you being offered? Have you confirmed the value of the center? Is there debt on the center? Is the down payment recoup-able if for some reason the state does not approve you?  

A lot of questions... and all are fact/contract specific. This is a great list serve question because it shows a situation we need to flag.  But, this is as far as I can take the answer with the facts provided.  I need to see the contract and hear more specifics to get to yes or no.  Right now I’m at maybe...