Sellers rejection reasons:

[grannyguru 0]

Seller's answer to my offer of a non-exclusive option (since she didn't want to stop marketing her home, but had said she was interested in doing an option when I proposed it after she turned down the lease-option offer.)

 

Obviously, I'm doing something wrong. Of course, this is one of the three real FSBO in the area. Could be just a case of numbers. But I have the feeling one of you folks could have gotten an option with her. (Perhaps she just doesn't want to have to listen to long-winded me! )

 

Alice;

 

From what I can tell you on the cutting edge of new approaches in the housing sales industry. I find the approach fascinating and it sounds interesting.

 

My problem with the situation is that it is a very new concept, and thus there is little history for me to base my decision on. In truth I do not know how this type of contract would work or play out in the end and all the different details involved.

 

As I stated in our conversation I am leary of entering any contract which would have a negative impact on my ability to sell my home myself. While the information you sent me does not appear to do this on the surface, I am not an Attorney or Realtor and thus could not assure that my interests are best met in this agreement.

 

My general feeling is that my house is available for sale, if someone brings a potential buyer with caveats for commissions, those should be worked out prior to a sales contract being signed. Lacking a bonefied buyer there is not a need for a contract. If you bring me a financially qualified buyer we can discuss the details of the sale, but I am not willing to sign any contracts at this point in time.

 

I wish you the best of luck in your new endeaver.

 

My answer to seller:

 

Thank you for taking the time to consider our offer. I wish you the best in selling your home, and in your new endeavors with horses.

 

I'm sorry you are unacquainted with basic options, non-exclusive options, etc. It's really not new. My partners have a history of doing successful lease-options which spans many years, while options go back preceeding our births.

 

But neither is it your fault; our society fails to educate even the college-educated in such matters, and that's unfortunate, as just about everyone buys or sells one or more homes in their lifetime, and for most people it's the biggest and most important investment they will make. Not knowing these things leaves buyers and sellers vulnerable, costs them thousands of dollars, leaves families devoid of home ownership, and houses sitting for sale on the market far longer than ever need be.

Basically, I would bring you a buyer as you suggest, but I can only do so having the interest in the property an option would provide, allowing me to resell the property or the option. Unless I wish to do it for free, something I cannot afford to do.

 

I just wanted to wish you the best; I know it must be scary selling it yourself, and I understand your fears. Most of all, I wanted you to understand that my lack of therefore bringing you a cash buyer isn't because I don't want to, but due the the laws of options, etc.

 

Thank you for contacting me; it frees me to earmark investor funds for other projects.

 

Sincerely,

 

 

Alice

[Doug Pretorius (ON) 9]

As I stated in our conversation I am leary of entering any contract which would have a negative impact on my ability to sell my home myself.

Lacking a bonefied buyer

Who talks like that?!? I can barely believe these statements came out of the mouth of a real person, unless they're reading off some kind of scripted speech!

 

Ok, even I know that you talked too much to this seller. You actually sound a lot like me when I'm talking to potential investors. We both say too much in an effort to educate (read: SELL) the other person.

 

Everything the seller said, was 100% Genuine BS! The only difference between what they said and the usual: "I don't think I'm interested." Is that this seller likes to hear themselves talk about their grandeous rationalizations

[grannyguru 0]

Thanks, Doug!

 

That was a copy/paste of her email.

 

And mine back to her (ok....don't say nasty things about wordy ol' me! )

 

Yes, the nasty mean seller was just trying to make me feel small.

 

Bad! Bad! Bad!

 

 

Have a great day!

 

 

Alice

[grannyguru 0]

hmmmmmm........

 

Do you think, maybe, if I just keep on talking, eventually they'll sign just to make me go away? ...... :ph34r:

 

Alice

[Kimberly 0]

Grannyguru,

 

Have you tried going after the MLS expireds? ALL those listed aren't selling.

 

Kim

[grannyguru 0]

Good idea!

 

I was staying away from the realtors in this small town.

 

But you have a point.

 

Someone must be selling their house, somewhere.

 

I posted this post to see what I might be doing wrong, or could do better.

 

Once I get a deal or two, I will be able to expand to other areas. I also have a partner in California who wants to be my legs and wheels there, so I will have to start calling people in his area.

 

Sooner or later I will get deals.

 

 

Thanks for all the help!

 

 

Alice

[Kimberly 0]

I was staying away from the realtors in this small town

Where I am it's the same MLS system in NE Okla, it doesn't change from town to town. Could an Agent in another town access the listings in your area for you? Maybe in exchange for $500/completed deal.

 

Just a thought. It may not work the same way where you are.

 

Kim

[Gary (MO) 0]

Hi Kimberly,

I'm in southwest Missouri and our MLS is 5 counties!

Gary

[grannyguru 0]

Thanks Kimberly;

 

I know someone here who knows a realtor who was starting out.

 

She might be interested. I'm going to ask.

 

 

Thanks!

[Kimberly 0]

Grannyguru,

 

Good luck, hopefully she'll want to work something out.

 

 

 

 

Gary,

 

I'm in the Tulsa metro area.

 

 

 

Kim

[JuanaH 0]

Help!

 

There is a one family home 4-5 blocks from where I live. I have scheduled an appointment to see it in 3 days. The house was just built more than 8 months ago, has a FSBO sign on it and it's still vacant. I called the number and the price is $439,000.

 

I offered him $3,000 as an incentive for a lease purchase option for 2-3 years. I asked that a percentage of the monthly"rent" be applied towards the purchase price. He told me he has to check out the numbers and get back to me.

 

Since the house was just built and is a different style from the surrounding homes I cant really compare the house to any other. I happened to speak to one of the contractors who built it, who admitted the house was made of cheap materials.

 

Is 439,000 to much for this house. I have not even inspected it yet. It seems like one of those "add water and stir" houses. But I'm currently renting and this house would be right up my alley. If it does not work out I figure I could put in a clause so as to rent it to someone else. How should I approach this?

[grannyguru 0]

Juana:

 

You MUST find comps for the property. You can try asking a title company, or find something nearby that is like it, or else get comps for the houses in the neighborhood, even though they are NOT like it...and then use your brain to figure out how that relates to the property you want to lease-option.

 

Even if you were just buying it to buy it, and not as an investment, you still should find out what it's really worth.

 

If it's sitting vacant after a long time, and is made of inferior materials, then perhaps that is why it is vacant.... plus it is quite possibly overpriced. Ask the seller where he/she got the price from.

 

Also: you should have posted this as a new thread, or subject, because that way more of us will read it and be ready to help you. Perhaps Michael's webmaster will move it to a new thread.

 

Alice

[Mr.B 0]

Help!

 

There is a one family home 4-5 blocks from where I live. I have scheduled an appointment to see it in 3 days. The house was just built more than 8 months ago, has a FSBO sign on it and it's still vacant.  I called the number and the price is $439,000.

 

I offered him $3,000 as an incentive for a lease purchase option for 2-3 years. I asked that a percentage of the monthly"rent" be applied towards the purchase price. He told me he has to check out the numbers and get back to me. 

 

Since the house was just built and is a different style from the surrounding homes I cant really compare the house to any other.  I happened to speak to one of the contractors who built it, who admitted the house was made of cheap materials.

 

Is 439,000 to much for this house. I have not even inspected it yet. It seems like one of those "add water and stir" houses. But I'm currently renting and this house would be right up my alley.  If it does not work out I figure I could put in a clause so as to rent it to someone else.  How should I approach this? 

This is commonly known as Hijacking a thread.

 

Its generally frowned on by the internet community. Like Michael said, he doesn't charge per post or word so feel free to start your own thread, it won't cost ya anything.

 

~Mr.B

[Kimberly 0]

She did start a new thread here.

 

 

Mr. B,

 

I think you'll find the threads here tend to evolve in sometimes unusual ways! Don't worry though, you'll get used to it.

 

Kim

[grannyguru 0]

Juana:

 

Don't worry about "hijacking" a thread here! :ph34r:

 

My reason for suggesting creating a new thread was to put your questions up front where people would see them. Instead of buried in another subject.

 

Which, I gather, you've done.

 

 

Just want to let Juana, and especially any newbies here, know that we're a friendly group here...

 

No worries about "making mistakes" posting here!

 

Alice