Posted by Charles Parrish on August 31, 2005 at 23:18:22:
You have a legal option on a property to buy it for $5-10,000 more. Now you want to know what to do? As an optionor, you have an “Equity Interest” and a right to assign your contract. Now you need to find an assignee. When you start to market it, you will find offers that want contingencies on financing,inspections and other deal killing contingencies. I suggest you call an auctioneer, sell it by public auction, assign your contract and wait for settlement. I would fee better if you had a “right to market” clause, an extended settlement, right to extent, right of possession and right to assign…
Wishing you good luck,
Charles Parrish )auctionbrokers.org)