Looking for advice - PSA without sales price listed?
Anyone ever draft a PSA whereby the language permits the buyer and seller to agree upon the acquisition price after the due diligence period (already stated in the PSA)?

EDIT: Many thanks to all for your feedback. We will seek an option until we are able to secure the necessary DD to make an offer.
[{"id": "j10wnct", "text": "Asking because I\u2019m curious, why do this? It doesn\u2019t seem to benefit anyone and just wastes legal dollars.", "replies": [{"id": "j10zlm2", "text": "Fair question. Buyer is mission driven to purchase underperforming assets to preserve affordable housing. A once in a career deal to acquire multiple properties at once has fallen into their lap and they want to move on it. However, seller can\u2019t (or won\u2019t) confirm number of buildings to be ultimately added to sale due to various reasons, primarily start of foreclosure/note sales on some. We need a PSA to tether them to the buyer so we can speak with some level of confidence to agency players and lenders. I\u2019m thinking language that states something like \u2018purchase price to be agreed upon as supportable acquisition price as evidenced by outcome of appraised as-is value and outcome of bank underwriting\u2019 or some such thing. \n\nI know this isn\u2019t idea at all but curious to hear how others approached wonky situations like this.", "replies": [{"id": "j115m86", "text": "What did the bank/ debt holder say?", "replies": [], "depth": 3}, {"id": "j11ew1d", "text": "What buyer is looking for really then, is a purchase option and an exclusive period where seller can\u2019t market the assets. That\u2019s much easier than a full PSA. Option period for X amount of $ for Y time frame. $ can be mix of refundable and non.", "replies": [{"id": "j11ofee", "text": "The answer is here. Purchase option.", "replies": [], "depth": 4}, {"id": "j11ol36", "text": "Bingo. My brain is fried. Yes! This is exactly what we need. Thank you mister dinosaur.", "replies": [], "depth": 4}], "depth": 3}, {"id": "j11z10g", "text": "If the deal really is once in a lifetime, then the buyer might want to name a number before someone else does", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "j117czl", "text": "Why not tie it to a \u201cper SF\u201d value?", "replies": [], "depth": 1}, {"id": "j1195pj", "text": "Just curious, how would a seller even accept an offer from someone without at least a ballpark figure? If I want to sell a property for $50 million and a buyer wants it for $30 million, then there's no way it's going to work. Both of us are just wasting each other's time.\n\nPSAs aren't set in stone. You should be able to renegotiate the final purchase price after your DD period. In my experience in multi-family, the buyer will ask for concessions from the seller (unless the offer is for \"as-is\").", "replies": [], "depth": 1}]