how to handle questions with lease options - Posted by Judy

Real Estate Investing
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Posted by Mark-NC on November 02, 2000 at 18:33:14:

NT

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how to handle questions with lease options - Posted by Judy

Posted by Judy on November 02, 2000 at 14:24:38:

I want to post some common questions and objections by sellers when you present them a lease option deal. These are several questions, but isn’t this what this web site about? To help investors make deals.

I was wondering if anybody could help me to come up with answers to questions or objections on lease option deals.

(1) Why should the owner let you tie up their home?

(2) Why shouldn’t they just list their house with a real estate agent?

(3) Why shouldn’t they just keep selling their house?

(4) What if the tenant tears up my house?

(5) Why shouldn;t they just rent the house themselves?

Thanks for any tips or help. I just feel I need to know these things.

Thanks

Judy

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Re: how to handle questions with lease options - Posted by Timothy Lewis

Posted by Timothy Lewis on November 06, 2000 at 11:21:52:

Judy, Offer the owner market value for the house with a non-refundable option payment. Explain how much a real estate agent will make off of them from there commission. You can charge more than market value just for the financing you provide to your buyer. You can also make your option payment more than what you payed. The sellers of the house may not have a database of people like you do or should have. We keep one of these on hand and we know who is out there and is ready to do a lease-option through us. Tell the seller that you will take care of all maintainence and pass that off to your buyer! HOPE THAT HELPED YOU
TIMOTHY LEWIS

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Re: how to handle questions with lease options - Posted by phil fernandez

Posted by phil fernandez on November 02, 2000 at 18:14:06:

1./ Because you plan to eventually buy his house. Isn’t that why its on the market. In the meantime you are paying him rent and taking care of his asset.

2./ Because a real estate agent will only show the house. Will the agent also make the monthly payments to the seller while they are trying to sell it.

3./ See answer #2, they could but who will make the monthly mortgage payment while they try to sell it.

4./ In all probability the tenant will not tear up the house because you will be screening these tenants. And if they do you will insert a clause stating that you will be responsible for fixing any tenant damage.

5./ Easier said than done. My guess is that the home seller has never had experience in advertizing, screening, setting up a lease, and collecting rents and enforcing lease clauses. You take this responsibility off of the owners shoulders so they don’t have to worry about anything.

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Try this - Posted by Mark-NC

Posted by Mark-NC on November 02, 2000 at 14:39:39:

Judy,
Go to the “money making ideas” on this site. The first idea posted, F & Q about L/O. This is an excellent letter to pass on to your reluctant home owner to ease the preasure of a L/O deal. It pretty much answers your questions.

Mark

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Re: how to handle questions with lease options - Posted by Judy

Posted by Judy on November 02, 2000 at 20:35:03:

Hi Phil.

Thanks for the tips, and I certainly printed what you wrote.

Judy

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I Would if I were you - Posted by Brad

Posted by Brad on November 02, 2000 at 18:21:17:

‘’'BUY A COURSE""!!!

Lots of them located on the home page of this site. Check it out.

Brad