options ? - Posted by jkf

import · March 12, 2001, 10:53am

Posted by jkf on March 13, 2001 at 15:43:37:

Thanks a lot for your advice. Someone on the newsgroup board gave me a website with the option form.

import · March 12, 2001, 10:53am

Posted by jkf on March 12, 2001 at 11:53:32:

I have been reading messages on this site for about 3 months. This is the first time that I have actually posted something. I have the Ron Legrande and Carlton Sheets course, but this is my first deal. I have a verbal agreement to option a house. The appraisal and market value for the house is $75,000.00 I have a verbal agreement from the seller to purchase the house for 62,500.00. I am actually going to sell the house for 67,500.00. I semi learned this method from Legrande. My problem is the contracts. What type of contract do I give the seller that verifies he will give me the option to purchase the house? The only contract that I see in the Legrande course is the lease option form. The seller will not do the normal lease option w/tenant buyer because of a nasty divorce settlement with his wife. He has to sell in 90 days or his house will be auctioned. Do I still use the regular lease option contract or is their another contract or agreement that I need. I am also curious about the contract that I would give to my would be seller. I am worried about not getting my cut when we go to closing. PLEASE HELP!

import · March 12, 2001, 6:03pm

Re: options ? - Posted by Rafael Perez

Posted by Rafael Perez on March 12, 2001 at 19:03:15:

I know it’s not the way to make the dollars but I think if you can buy and sell the house w/o any $$ losses then do it even if you don’t have a gain b/c the more experience you have the more comfortable you will be later when you make bucu bucks. I personally have not made a deal yet but just to have one so that I could go through one closing would be a blessing in disguise for me, even with no $$ profit. Please mail me and if you’re willing keep me updated as to the details of your transaction I’d be much appreciative.

Thanks,
Rafael

import · March 12, 2001, 4:18pm

Re: options ? - Posted by Greg NY

Posted by Greg NY on March 12, 2001 at 17:18:20:

Hello,

You might have a better chance of getting an answer for this in News Group I.

You may also get more than one opinion. You shold have a host of input… give it a try.

Greg NY