Posted by ScottC (NV) on February 14, 2002 at 02:45:31:
Placing it in the “too hard” basket might be the right way.
We have a mantra on this board: You aren’t looking for houses. You’re looking for motivated sellers.
options to buy? - Posted by Steve
Posted by Steve on February 13, 2002 at 20:30:56:
Can someone please fill the gaps in on the “option to buy” procedure?
This is when (usually higher priced MH) you have a buyer ready to inspect but the unmotivated sellers will not accept an option to buy after you have negotiated a good price with them. You cant afford to fund it. There are unlimited buyer’s and seller’s out there and as yet have not perfected the technique to obtain a signature on an option to buy form (option form from "Getting Rich Helping Others"database) and not for the want of trying. I have purchased DOW1, DOW2, Getting rich helping others. This subject is not covered adaquately enough I feel. Please tell where I’m going wrong. By the way I have 4 Lonnie deals notched up but I can’t seem to master this particular issue: Questions raised:
1)what amount do you need to place an option. (no matter what reasonable amount I offer the seller, I can’t seem to get them to bite)
2)If they wont sign an option do you take the punt and show the interested buyer through anyway or stick to your principles and “no option no show”.
3)what period of time do you need to work the deal to get buyers through.
3)what angle do you use if they are scared of options.
4)how do you get the seller from not talking price as they are not obligated to keep quiet and how do you stop the buyer coming back later, after you drive off, and negotiating after you have introduced the 2 parties.
OR
Should this be placed in the too hard basket because your dealing with unmotivated sellers and ignore this huge market?
Thank you for your experienced replies on this Issue.