Seller Will Give Me 60 Day Option - advice? - Posted by AndyofIndy

Posted by mattc - mi on November 06, 2003 at 14:43:16:

Maybe he could partner with a more experienced
REI here - do the deal - and split the profits?

Might be win-win for all around.

just an idea,

mattc - mi

Seller Will Give Me 60 Day Option - advice? - Posted by AndyofIndy

Posted by AndyofIndy on November 06, 2003 at 09:58:39:


I have a seller willing to give me a 60 day option to buy their home, with very little money out of my pocket. All I need to do is find a buyer within 60 days, and then if I don’t, they say they will definitely consider a subj 2.

My questions:

Exactly what form(s) need completed, and do they have to be notarized and/or recorded at the courthouse?

Where can I get these form(s) quickly?

I feel that I know what I’m doing on this deal, because the people are genuinely interested in not only giving me time to find a buyer, but to allow me to make a profit.

Once I complete a deal, I plan on purchasing “ABC’s of SUB2”

By the way… who do you feel offers the best courses for

  • Wholesaling
  • Sub 2’s
  • Rehabs
  • Note Business
  • others

I could do a search in the archives, but from what I can tell, the only archived messages are up until the end of 2002, and I would like more current opinions.


Re: Seller Will Give Me 60 Day Option - advice? - Posted by DaveD (WI)

Posted by DaveD (WI) on November 06, 2003 at 14:05:06:

I think you have a few things backwards, Andy.

You are asking for all kinds of forms, not knowing about which forms you need. Then you say once you do the deal you’ll get some education.

Don’t do that.

Pick an area and focus. The pallet is huge to pick from. Spend some dough on your education. Get good and knowledgeable about doing one thing well. Then start doing it. Continue to fund your education as you are able to afford to, diversifying your knowledge, adding tools and technique.

Not knowing the forms, how to fill them, how to protect yourself, what to do and what not to do will get you either creamed or sued. Or both. Not good.

While your zeal is admirable, messing with folks single largest asset isn’t the place for do-it-youself brain surgery. There’s all kinds of education available, much of it here. Please avail yourself to it.