EQUITY NOTES 0 Report post Posted June 29, 2013 Hi All still seems pretty quiet, everyone getting ready for the 4th july i have recently started to see the benefits of the short offer form as far as qualifing a deal . I have a question on the the short offer form, option to purchase my short offer letter states the seller will receive the purchase price. My question is the option to purchase does not show where my price to the buyer is located . Am I missing something or is my form correct?. I actually never used this form since I had the contracts. Thanks in advance for any repliesTom Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 29, 2013 Tom, if we're looking at the same document, the option to purchase price is on Paragraph 4. Share this post Link to post Share on other sites
EQUITY NOTES 0 Report post Posted June 30, 2013 Thanks Michael, I guess I did not phrase my question correctly on the short offer letter it states the seller will receive the net purchase price,but on the short offer option to purchase#4 if I put the purchase price with my fee and rent creditsit is of course higher than there asking price. On # 4 do I put my purchase price which includes my fee and rent credits? OR do I put ther asking price on # 4 purchase price? This all pertains to the short offer form Sorry for any confusion i have on it.Tom Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 30, 2013 Tom, the Short Offer Form is between you and the homeowner when doing a sandwich lease. Paragraph 4 should state the purchase price you have agreed to pay the homeowner before any rent credits are factored in. Share this post Link to post Share on other sites
Propertymagnets 7 Report post Posted July 1, 2013 Michael, I am in discussion with a seller and the opportunity exist for owner financing. Will I use the short offer form to present to the seller? Another question related to owner financing. Let's say the owner agrees to owner financing and wants $20,000 down. Would it make sense to get an investor to put up the $20K with a ROI of 8% per year? Thank you Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 1, 2013 Charles, is this a lease purchase or another type of transaction altogether? I ask because the Short Offer Form is specifically for a lease purchase.Regarding the $20K down, I've always been told it isn't the cost of money but the availability of it. So if the deal requires $20K down and you don't have it, the deal dies. But if you have access to that money from another source, run the numbers and make your determination on that. Glad to see you're rockin' and rollin', Charles. Share this post Link to post Share on other sites