Posted by TroyT on September 24, 2003 at 21:25:53:
Why not just use a Straight Option? Get it tied up for $82K, see if you can get away with less for Option Consideration, like $1. If you do go with $1500 make sure its Non-Refundable. I wouldn’t put your own money at risk on this deal.
Yes, and then flip it. With this kind of spread you could even list it with a Realtor to sell, they make their 6% or whatever. Once you have the Option you have control over the deal and operate as the Seller. I think 90 days is a good time-frame here.