Craig 0 Report post Posted March 26, 2006 I was replying to For Sale adds on Craigslist today when I got banned from replying. Guess I got to greedy to do lease options. I can't reply for 24 hours. Just a word of warning to all. Also I have found if I don't use the standard request from MC manual they take me as a commercial business spamming them. It smart to just ask the simple question. I was wondering if... Everyone have a great day Share this post Link to post Share on other sites
CS1977 0 Report post Posted March 26, 2006 I was replying to For Sale adds on Craigslist today when I got banned from replying. Guess I got to greedy to do lease options. I can't reply for 24 hours. Just a word of warning to all. Also I have found if I don't use the standard request from MC manual they take me as a commercial business spamming them. It smart to just ask the simple question. I was wondering if... Everyone have a great day Wait, what? I'm confused. I use craigslist every day so I am wondering what u posted...what city?? Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted March 26, 2006 AH SNAP! You'd think they could cut you some slack, seeing you share the same name. I know where you can find a hell of a deal on a bad-ass tractor.... BAD A$$ TRACTOR Share this post Link to post Share on other sites
Craig 0 Report post Posted March 26, 2006 I was replying to For Sale adds on Craigslist today when I got banned from replying. Guess I got to greedy to do lease options. I can't reply for 24 hours. Just a word of warning to all. Also I have found if I don't use the standard request from MC manual they take me as a commercial business spamming them. It smart to just ask the simple question. I was wondering if... Everyone have a great day Wait, what? I'm confused. I use craigslist every day so I am wondering what u posted...what city?? I replied to many times using the same adress, same email. Its nothing I just now know there is a limit trigger which they see as spam. Share this post Link to post Share on other sites
Craig 0 Report post Posted March 26, 2006 AH SNAP! You'd think they could cut you some slack, seeing you share the same name. I know where you can find a hell of a deal on a bad-ass tractor.... BAD A$$ TRACTOR Damn I just tried to reply to your tractor add. I got boned, It hasn't been 24 hours since I got banned. I got my nuts kicked again. That damn Craig. I can't even SPAM that damn tractor to do a Lease/option. Share this post Link to post Share on other sites
rpoissa 0 Report post Posted March 26, 2006 Craig, I was wondering on your pure option deals, when the buyer paid your option fee, did that money go towards the buyer's down payment? How would that be any different from a CA? Thanks, Rob Share this post Link to post Share on other sites
calldustin 0 Report post Posted March 26, 2006 Craig, I was wondering on your pure option deals, when the buyer paid your option fee, did that money go towards the buyer's down payment? How would that be any different from a CA? Thanks, Rob Craig, Been there done that. Posted like 55 ads in 2 hours... ooops. I could tell I was working hard!! No harm done! Share this post Link to post Share on other sites
Craig 0 Report post Posted March 27, 2006 Craig, I was wondering on your pure option deals, when the buyer paid your option fee, did that money go towards the buyer's down payment? How would that be any different from a CA? Thanks, Rob No the Option was kept separate. I received it way before the close. Just to be safe I hold until close. Its making money for me not them. Share this post Link to post Share on other sites
Craig 0 Report post Posted March 28, 2006 Craig, I was wondering on your pure option deals, when the buyer paid your option fee, did that money go towards the buyer's down payment? How would that be any different from a CA? Thanks, Rob Hi Rob: The Option was a Pure Option. I took the assignment fee from the buyer and he bought the property. No Lease deal at all. Its so easy some investors frone on it. Craig Share this post Link to post Share on other sites
Craig 0 Report post Posted March 28, 2006 Craig, I was wondering on your pure option deals, when the buyer paid your option fee, did that money go towards the buyer's down payment? How would that be any different from a CA? Thanks, Rob Say Rob, I hate to say this because it shows how new I am to this. "I REALLY DON"T KNOW IF IT WAS OR WASN'T APPLIED. I DON"T KNOW. AND I DON"T CARE" Because I am out of the deal and got my money. Sometime soon I am going to post the dear diary about this as Lessons learned. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 29, 2006 Generally speaking, in a Pure Option deal, whatever assignment fee you receive is not applied towards the purchase price. It is simply the cost of buying the Pure Option Agreement from you. In other words, you have something that someone else wants, and they are willing to pay you something for it. Once done, they now hold that Pure Option Agreement, with the same terms you have negotiated. Share this post Link to post Share on other sites
rpoissa 0 Report post Posted March 29, 2006 Generally speaking, in a Pure Option deal, whatever assignment fee you receive is not applied towards the purchase price. It is simply the cost of buying the Pure Option Agreement from you. In other words, you have something that someone else wants, and they are willing to pay you something for it. Once done, they now hold that Pure Option Agreement, with the same terms you have negotiated. MC, This is where I am confused. What is the difference whether or not it is a pure option or option with lease? Why when it is an option with lease can we can sign the assignment form and have the money go towards down payment (this is a CA right?), but if you take away the lease and just have the option, the money doesn't go towards the down payment? Could you sign the assignment form and make the money go towards down payment with the assignment form in a pure option? I don't see why you can do it in one case and not the other? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 29, 2006 MC, This is where I am confused. What is the difference whether or not it is a pure option or option with lease? Why when it is an option with lease can we can sign the assignment form and have the money go towards down payment (this is a CA right?), but if you take away the lease and just have the option, the money doesn't go towards the down payment? Could you sign the assignment form and make the money go towards down payment with the assignment form in a pure option? I don't see why you can do it in one case and not the other?Rob, the first big difference is that the Pure Option is not a lease at all. It is only the right to purchase the property at an agreed to price within a certain time frame. There is no lease involved, unlike a CA or a sandwich lease option. That much is clear, yes?Look at it this way. I am a property owner who agrees to give you a Pure Option to buy my house. The price is set at $400K, and the Agreement is for sixty days. You gave me $10 consideration. Several things can happen now. You can do nothing and let the option expire. You're out $10. No harm, no foul.You can go ahead and decide to exercise the option and buy the house yourself. Great! You've got the house you wanted, and my property has been sold at a price I found agreeable.Or, you can be smart investor who decides to flip or assign the deal to a third party because you just want to make a quick buck. How? Well, you agreed to that $400K price becuase your due diligence tells you the house can be sold for, say, $425K. The market is strong. The house has curb appeal, etc.So you market the house and in a few weeks you find an interested party. He agrees with your assessment of the property, and wants it for his family. He realizes there is about $25K in instant equity in the Pure Option deal you have already negotiated. The question becomes, what is he willing to pay for it? You two dance a bit and agree that you will assign, or sell, your option to him for $5K. He cuts you a certified check in that amount. You hand him the Pure Option Agreement you signed with me, along with the Assignment of Agreement form between he and you. You're out of the deal completely and have earned $5K for your troubles. The buyer has an option to buy the property for $400K before the agreed to expiration date. And nothing has changed for me. I am obligated to sell my house to whoever is the legal owner of that Pure Option Agreement.Make sense? Share this post Link to post Share on other sites
rpoissa 0 Report post Posted March 29, 2006 MC, thanks for your response. That all makes sense. What I am saying is, wouldn't your option be more attractive to a buyer if the money they put out to buy it also goes towards their down payment on the house. Why can't you do that? It's no different from a CA, except with a CA there is a lease involved. Share this post Link to post Share on other sites
Craig 0 Report post Posted March 30, 2006 MC, thanks for your response. That all makes sense. What I am saying is, wouldn't your option be more attractive to a buyer if the money they put out to buy it also goes towards their down payment on the house. Why can't you do that? It's no different from a CA, except with a CA there is a lease involved. Hi Rob, If you applied that as a down payment you would not get paid. The buyer pays you say the $5,000 to get the assignment of contract to purchase the deal at that contracted price which is fixed according to the option. This would be attractive to the buyer if its a good price even after he pays you the assignment money or he really wants that property badly. Say if the location was perfect for him or he knew the city was going to develop that area and it could be in his best interest. Hopefully I didn't confuse you. I have found they are very easy to get because the owner saves agent fees and if it sells fine, no lease involved. Plus I use a clause allowing the owner to sell on his own if he is approached by someone. No realtors and no signs is a must. Share this post Link to post Share on other sites
