jseamless 0 Report post Posted February 19, 2004 I am talking to a seller with a really nice home. They are motivated and wanting to do the deal. I am thinking of putting this house under contract with a option to buy. In order to sell quickly I think this property will need a expensive marketing campaign. Is there any legal issues with putting a option to buy on the property and having the seller pay for advertising? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 20, 2004 Josh, what type of deal, exactly? A sandwich lease? Cooperative Assignment? Pure Option? In any event, if you can get them to pay for the advertising I know of no legal issues with this. I'm just surprised that a homeowner who is doing a deal with you would than agree to pay for your marketing. But, hey, if you can get it to fly, more power to you. Share this post Link to post Share on other sites
Guest Guest Report post Posted February 20, 2004 Josh,I also see no reason for it being an issue. I have three right now where the sellers are all paying for the marketing. These are all CAs, but only one of them is non-exclusive.If I were doing a sandwich LO, I wouldn't ask for them to do this though. That's just really crossing the line. Regards,Adam Share this post Link to post Share on other sites
jseamless 0 Report post Posted February 20, 2004 It is a straight option. It is amazing what you can get when you just ask. I wish I had know that fact all my life. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 20, 2004 As I said previously, I find it interesting that a homeowner would agree to pay for your marketing. Which is what you have happening with a straight option.Interesting, but not illegal. Go for it if you can get it. Share this post Link to post Share on other sites
option8 0 Report post Posted February 20, 2004 I, too, have been getting the sellers to pay for the ad. I just tell them we can take it out of closing! option8 Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted February 20, 2004 Option 8,Yup, that's another great idea too. If it's a binding option, I tell them the same thing. We can all benefit!Regards,Adam Share this post Link to post Share on other sites
Mr Saint 0 Report post Posted February 25, 2004 I just tell them we can take it out of closing! option8Option, How does that work? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 27, 2004 Far be it from me to speak for a woman, ( ), but I think option8 means that the seller will pay for the advertising. Then, when the property sells and closes, that amount can be refunded to the sellers from her share of the profit.Isn't that right, option? Share this post Link to post Share on other sites
option8 0 Report post Posted February 27, 2004 That's right! Sorry...I responded to this via pm and missed seeing it here. If's it is a retail property, the closing is fast.If it is a lease option, I'll pay them when I get the money from the tb.(I may be way off base here, but do the sellers get deductions for the cost of selling a home?---what if they are relocating for a job.) The take away real message here is we don't LAY OUT ANY UPFRONT money if we can help it. option8 Share this post Link to post Share on other sites
Mr Saint 0 Report post Posted February 28, 2004 Another great idea that I would have never thought of. Option, How do you go about asking this of a seller? Share this post Link to post Share on other sites
