Options - How Do They Work - Posted by Heidi W

Real Estate Investing
1

Posted by Talia (NY) on February 17, 2002 at 24:38:40:

If the seller wants a cash deal, then they don’t sound that motivated to me. An option is not going to give them the cash they need IF they are looking for only cash to get rid of this house.

See what they need the cash for. Ask more questions. Then you might realize what their issue is and then and only then will you be able to structure an offer to meet their needs.

Please tell us how this turns out.
-TAP

Lady Tenor Homes
P.O. Box 2156
Garden City, NY 11531
(866) 510-6559 x6350 toll free
(516)481-3461 (fax)

2

Options - How Do They Work - Posted by Heidi W

Posted by Heidi W on February 16, 2002 at 18:32:25:

I have a seller who wants out quick, but wants a cash offer. Property is worth $450 and they’ll take $390. According to the LeGrand technique, $450 X .70 - $0 repairs = $315, so no deal for a cash offer…so I thought, what about an Option?

Seems like a no risk approach - but I really don’t understand how they work. Anyone tips?

Thanks,
Heidi