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puls1234

Option Money Question

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The typical response I am getting from Tenant Buyers when I ask them how much option money they have available is " how much do you need as far as option money?" I am trying to get them to tell me first because the first one to speak loses. Does anyone have any clever ways to get the T/B to tell you how much option money they have to put down?

 

Pete

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Ah, yes, I'm asked that question all the time......

 

T/B: "So, how much are you looking for down?"

Me: "You know, I'm open on that. My bigger concern is the person coming into this property. I want them to take care of this house and to buy it. I want some quality folks in here because I don't have time to babysit this house. That's why I'm doing this rent to own, instead of just a straight rental.

Let me ask you a question. You're out house hunting now. I assume you've taken the time to sit down and figure out your budget. What you can afford monthly, and how much you have available to put down when you find the house you want. Tell me, what have you determined?"

 

If they tell me they haven't any idea how much they have, or for any reason they don't want to talk, I'll tell them to get back to me after they've had the time to think about this issue. In the meantime, I'll tell them, I have another appointment to show the property later on today.

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Guest Peggy

I also say that the deposit depends on the monthly payment they need. The more they have down, the we can work the payment. The less they have down, the higher the payment. We try to be flexible. Are you comfortable telling me what you have to work with?

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