Out of town owners - Posted by Rick


#1

Posted by Mr Donald (NORVA) on October 23, 1998 at 17:22:51:

I’d go with the letter of intent with the broad strokes.

Then if they’re comfortable with the options that you’re presenting them, by all means send them the contract for their approval and sign off.

As long as there’s a meeting of the mind between all concerned parties you shouldn’t have any issues here.


#2

Out of town owners - Posted by Rick

Posted by Rick on October 23, 1998 at 15:19:21:

Once you find an out of town owner for a potential Lease Option in your area(let’s say, by their response to a
mailer), what’s the best way to approach them after they get prequalified on the phone?

  1. Send them a letter of intent with the broad strokes?
  2. Send them a contract (which they then mull over)?
  3. Send them an option contract?
    What say you guys?