Hi All!Has anyone worked with an investor who uses an "Option Offer" Basically what this is, the investor puts in an offer to the bank on a short sale, but the offer is contingent upon the investor immediately listing the property and trying to find a buyer(same day buy and sell). After a predetermined amount of time the investor can walk away.
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ok, so where is the benefit? Maybe I am missing something but, I can't find any benefit to either the homeowner, the Realtor or the bank by doing this "Option Offer" deal.
I understand it's a bad idea but, in an effort to better understand the situation, can someone describe to me, what the argument is on behalf of the so called, "investor"?
Is the "investor" trying to say he can get more money than the Realtor can for the home?
These are nothing but traps for already troubled homeowners. They would get homeowner and you commited to the offer yet they have option to buy. You want to secure a short sale with serious buyer with pre approval + good faith deposit in the bank. This way lender, seller and you, all have stake in this deal.
If investor want to buy a house at a great deal they will give you a conventional contract. I do it everyday.....
Brenda Sutherland > Ascharaj (Sunny) SinghDecember 31, 2008 at 7:47am
thanks for your input, the whole deal was not sitting right with me. I am not that type of agent that takes advantage of people when they are down and certainly don't want to become one of "those" that do that!
Happy New Year
Brenda
Replies
I understand it's a bad idea but, in an effort to better understand the situation, can someone describe to me, what the argument is on behalf of the so called, "investor"?
Is the "investor" trying to say he can get more money than the Realtor can for the home?
If investor want to buy a house at a great deal they will give you a conventional contract. I do it everyday.....
Happy New Year
Brenda
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