Sure, why not, they are not ALL bad! - Posted by Jim IL
Posted by Jim IL on April 24, 1999 at 23:05:28:
As some of you have heard, from my previous posts, my wife and I are now focusing on L/O’s.
We have a RE agent that is wonderful. She brings me leads on all kinds of deals: Flips, Possible owner financed, pre-foreclosures, and even some possible L/O’s.
Well, to make a long story short, she brought us a L/O deal, and when the “seller” asked if they could have thier lawyer look over the “L/O contract”, per Legrand course material, we said, “sure, here is a copy (blank)”.
We asked them, "if he says this is legal, do we have a deal?"
They of course said, “probably”.
My RE agent, who was also the listing agent on this property, stayed after our meeting with the seller to “talk” some more.
She has since done numerous followup calls and meetings with these people.
As a result of her efforts, we now have a signed L/O agreement with the “seller”.
Here is the BEST part!
She went to see them right after they went to the lawyer. After the meeting with the lawyer, they wanted some rediculous things added. The agent, not only changed thier minds, but got them to sign for us.
She filled in all the balnks in the contract for me, exactly in the terms I had discussed, and then called me to say, "can we meet so you can sign this too!"
I looked it over, and she did it right. (even putting in the contract that I’d pay $x above the “mortgage balance”, so my price goes down over the life of the Lease option agreement!)
She even dropped her commission from 5% to 3% to help convince the seller. (and collects it at the excercise of the option)
So, we now have another L/O “inked”, and all because of our “favorite” agent.
I really got lucky when I found this woman.
To boot, I found a listing for her that I felt would match my sellers criteria to buy, and she showed them that house today. They are buying, and she gets commission on that sale as well.
So, when you find a good one, do them right, and they will return the favor BIG TIME!!
Have a nice day!
P.S. I HAD to share this one, since I am guilty of posting my rantings about BAD agents/brokers!