please reply asap, poss deal - Posted by shannon

import · July 10, 2003, 3:45am

Posted by Jerry on July 10, 2003 at 07:34:23:

I would consider making and offer to the seller with an option and then selling the option to your tenant buyer. You can receive or at least secure your profit in the deal.
Best of luck

Jerry

import · July 10, 2003, 3:45am

please reply asap, poss deal - Posted by shannon

Posted by shannon on July 10, 2003 at 03:45:19:

I have a guy who wants a tenant buyer that I have to move into his place. he wants to L/O it or do a conv. finance, who cares? I want to know the safest most effective way to secure my interest in the deal. My interest being, a tenant/buyer finders fee of $5k (option money).Would it be with a promissory note attatched to a letter of intent? Or what.
Thanks

import · July 10, 2003, 9:08am

Re: please reply asap, poss deal - Posted by Ben (OH)

Posted by Ben (OH) on July 10, 2003 at 09:08:02:

I would suggest you draft up an assignable lease with option, sign with the owner and assign it to the T/B for your fee. Make the deal subject to the T/B’s acceptance so you aren’t caught in the middle, holding the bag with no outs.