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abohlig

I Think I Have This Figured Out.

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I think that I have this figured out and it all makes sense to me if I am right. I have spent the last couple of hours reading contracts and posts about this in the forums. I do not want to get bogged down in the details, but don't want to be uninformed either.

 

Could someone who has done a few CA's please let me know if this is right?

 

1) Go market like crazy to find a MOTIVATED seller.

2) Once seller found, finalize details and get both the Option to Purchase agreement and the CA Residential Lease Agreement signed by the home seller and me.

3) Market like crazy for a tennant/buyer.

4) Once t/b found and it is agreed upon by the seller that they are acceptable, get the CA Assignment of Agreement signed by all three parties.

5) Collect and cash option consideration money.

6) Wash, rinse repeat

 

 

Thanks,

Alan

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Alan,

1) Go market like crazy to find a MOTIVATED seller.
Yes. But one of the great things about CA's is the homeowner needn't be all that motivated.
2) Once seller found, finalize details and get both the Option to Purchase agreement and the CA Residential Lease Agreement signed by the home seller and me.
Perfect.
3) Market like crazy for a tennant/buyer.
That's your payday. Correct again.
4) Once t/b found and it is agreed upon by the seller that they are acceptable, get the CA Assignment of Agreement signed by all three parties.
Exactomundo!
5) Collect and cash option consideration money.
That's the spirit!
6) Wash, rinse repeat
Now you've got it! :xbiggrin:

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To Add Alan:

 

When you do find a TB, get the assignment agreement signed by all 3 parties AND have the TB initial all pages of the other contracts (Lease and option) showing that they except the terms. Just one more acknowledgement from the TB's that they know what they are siging.

 

Akin

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