JacquelineBurch

I have signed an option agreement with a seller and they need a buyer yesterday (of course)! I have been marketing on Craigslist and received a few responses...any other ideas. This home is in a suberb of Detroit...not in Detroit. The local newspaper is REALLY lacking, so I doubt placing an ad woud do much. Going to place a sign in the front yard along with flyers advertising an open house for this Saturday. The seller REALLY wanted this, so they are running their own open house. Any other ideas? Any ideas would be appreciated!

Yep, that would be me! I want to know everything....YESTERDAY Thanks for the insight. Hopefully, you will see me back on here saying that the seller's price is right in line with the comps I looked up!

The seller is in his early 30s. He is an attorney. The home is in a nice area. He did not disclose what he is thinking as far as a purchase price to me yet. He is taking a day to research/think about it, but he said it most likely will be for the balance of the note...sounds like potential short sale situation to me. He is motivated to sell, because it isn't renting and he just wants to move on. Doesn't like dealing with tenants...bla, bla, bla. He wants to review the agreement, because he is curious about this type of transaction...he hadn't heard of it before. No surprise. I think a lot will depend upon his asking price, of course. I do have a Realtor friend that is able to run comps for me. I am studying to get my license, so I can do my own leg work as I get going. Just curious what steps to take after I find a buyer with the right attitude and sale price...do I get have them sign an Option Agreement with me. Then, when I find the tenant-buyer what documents/forms do I use to assign the Option to him/her?

Hello All - I am a newbie...and when I say newbie, I mean I JUST ordered the Naked Investor's course and started researching investing using cooperative and sandwich lease options. Well, I found a seller willing to sell his home on a lease option term. Now, what do I do?!! I didn't think I would find a seller this soon. Also, how do you calculate and analyze if a home is worth your time to find a tenant-buyer? Any insight would be appreciated. I need to get back to him with my lease option agreement by the end of the week, so I am hoping the forum can help! ~Jacqueline