Posted by Doug Pretorius on October 13, 2003 at 08:14:21:
I’m selling on CFD. I haven’t had anyone cash out. One guy got to within 6 months of the balloon date and then abandoned the property (long story).
% that cash out on L/O and land contract - Posted by George
Posted by George on October 13, 2003 at 24:06:43:
I’m curious what percentages you guys find that cash out on…
- selling lease option
- selling land contract, contract for deed, etc.
Re: % that cash out on L/O and land contract - Posted by Brent_IL
Posted by Brent_IL on October 14, 2003 at 17:19:52:
As a very rough guideline, I estimate that about 30% of L/O?ers actually closed. I suspect that this number will be lower in the near future because of the limited availability of high quality optionees.
When we started using lease-purchases, the numbers were almost inversed. About 70% made the balloon payments as scheduled. Another 20%, or so, got financed after we gave them an extension. The remainder walked away gracefully.
Re: % that cash out on L/O and land contract - Posted by B.L.Renfrow
Posted by B.L.Renfrow on October 13, 2003 at 17:31:42:
As the other posts indicate, there are a lot of factors involved in your question, but my own experience is that all of the land contracts I’ve done have been cashed out, and none of the lease options.
Brian (NY)