MichaelC 160 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.To answer your question, yes, the Pure Option would be more attractive to a buyer if whatever money was put down applied to the purchase price. On the other hand, how many homeowners do you think would agree to such a set up? Therein lies the rub. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted March 31, 2006 Hate to be Mr. Obvious, but... why don't you just do the same thing you do with CA's? eg.With a CA let's say the seller needs $200k and you want $5k. You don't write the option up with a $200k price, you write it up at $205k. That way after your fee is applied to the purchase price, the seller still nets $200k. The same thing can and should be done with pure options. Share this post Link to post Share on other sites
rpoissa 0 Report post Posted March 31, 2006 Hate to be Mr. Obvious, but... why don't you just do the same thing you do with CA's? eg.With a CA let's say the seller needs $200k and you want $5k. You don't write the option up with a $200k price, you write it up at $205k. That way after your fee is applied to the purchase price, the seller still nets $200k. The same thing can and should be done with pure options. Doug, This is exactly what I have been trying to get at. This way the buyer doesn't feel like the money is only going to the investor, and he/she gets some towards down payment. Doug, for Canada, picture a broker/lender sitting down with documents, option, assignment of option (with agreement money goes towards down), P & A between buyer and seller, now, my feeling is that a) they will not understand it, this will lead to fear and c) difficulty getting financed. Any thoughts? Rob Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted March 31, 2006 Rob, your job is to find the right who's so that the why's and how's are non-issues. It's impossible to overemphasize the importance of a smart and creative lawyer, someone who looks for solutions instead of problems. One good lawyer on your side can hold the whole thing together even if the other lawyer, the loan officer and the real estate agent are all idiots. Share this post Link to post Share on other sites
Craig 0 Report post Posted April 1, 2006 Hate to be Mr. Obvious, but... why don't you just do the same thing you do with CA's? eg.With a CA let's say the seller needs $200k and you want $5k. You don't write the option up with a $200k price, you write it up at $205k. That way after your fee is applied to the purchase price, the seller still nets $200k. The same thing can and should be done with pure options. Because here in New York people don't like to lease their house to a stranger. What if it gets trashed you aren't going to recover your legal cost and the expenses too. If you did win in court you really think you see any of that money. No way. On the other hand a landlord will quickly. Because he isn't attached to the house its just income to him. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted April 1, 2006 Craig, we're talking about the assignment fee applying to the purchase price on pure options. I didn't say anything about leasing. Share this post Link to post Share on other sites
steve55121 0 Report post Posted April 16, 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 dayI have been banned on craigslist before for 24 hours too. I find it strange that it seems to happen in certain areas and not in others. After about 15 messages in Jacksonville I get banned but in Minneapolis I can post all day long. -Steve Share this post Link to post Share on other sites
Craig 0 Report post Posted April 16, 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 dayI have been banned on craigslist before for 24 hours too. I find it strange that it seems to happen in certain areas and not in others. After about 15 messages in Jacksonville I get banned but in Minneapolis I can post all day long. -SteveSteve: They say you can't post the same ad in to differant cities. How can you get around this? The can also take the ad off if it isn't from the same city or area. Say I need to market my Chadron NE apartments in CA. IF someone reports me the can remove the ad. I am trying to market as a investment to CA. Screwed if you do or if you don't. Have a great day Share this post Link to post Share on other sites
