Q: Is it legal for real estate selling company to require purchase merchandise credit for store where outlot is located?
purchasing an outlot piece of land and they are tying theland purchase to the requirement to purchase a merch credit of 15% of the sale price at closing-- we would never purchase that much of material from them-- seems very shady
I’m not sure exactly what they are requesting, but they can ask anything that is not illegal.
You don’t have to agree to the terms requested though.
However — and I can’t emphasize this enough — before you sign an offer to purchase you absolutely should have it reviewed by a local an attorney. Even if it doesn’t sound ‘shady’ there may be issues!
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