Posted by Joe Guido on April 21, 1999 at 07:46:40:
In dealings with prospective buyers refer to the ownrs as, “occupants”. If the buyer asks you if you own the house, tell them that you’re an investor who buys and sells houses and that you have a contract to purchase this house which gives you the right to market it. In that you’ll be taking title you have the right to create owner financing. They shouldn’t care anyway, they just want the house and a deal that works for them. Why would you have to disclose your option price to your buyers? It’s not something that should concern them and if it does they are not your buyers. You only wnat to deal with motivated buyers and sellers. Control the deal.
Option on an occupied residence - Posted by Lynn (AL)
Posted by Lynn (AL) on April 21, 1999 at 03:59:28:
I’m going to be placing an Option offer on a SFH later today, and have been wondering about something. The house is still occupied by the owner. How would I show the property to potential buyers (I plan to offer “owner financing” and sell the note) with the sellers still living in the property? Also, how do I NOT let the buyers know what I’m optioning the house for?