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Mark in St. Louis

Assignment of Pure Option question

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I guess I should keep in mind that you are talking about expired listings here, so it makes sense that they might be more motivated to go the CA route.

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Hello, Kimberly, welcome to The Naked Investor. Thoughtful first post. But I want to take exception to one thing you wrote:
Maybe you could agree that if inspection doesn't pass you would help him locate another property, instead of just giving the money back.
I disagree. Any assignee needs to do whatever due diligence they need for their comfort level before they sign the Assignment of Agreement form and pay their assignment fee. Afterwards, the door is closed and the deal is done as far as I'm concerned. Leave the door ajar, even a slight bit, and you'll find weasels trying to enter, (figuratively speaking, of course. Unless you live someplace really peculiar :lol: ).

 

Michael:

 

I am in the mist of doing 2 Pure Options. I totally agree with you leave the door open and let the assignee do whatever he needs to do. Although, Its tough sometimes. These 2 deals have left me with possible other deals because the relationship I built with the assignee, just a little trust.

 

Also, I left the door open for the sellers, just a crack. I agreed to let the seller sell on his own if someone approaches them but locked out any agents. By doing this the seller comfortable working with me. Kinda like a Sub 2 clause in a offer agreement. Always have a back door in every deal.

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