Lease Option Purchasor Selling To A Cash Buyer
Let's say I am lease purchasing a house form a seller. My option to purchase the house is for 84,000. Currently the property is vacant and I have two signs in the front yard - one says "For Rent" the other "For Sale By Owner".
Along comes a Realtor and says they have a buyer interested in the house. I say ok, my asking price is 98,000 and I don't mind paying a commission if you meet that price.
The Realtor says the buyer can pay that price but they can't make a contract with me because I'm not the title owner of the property ( the person selling to me on the lease option is the title owner ). How would I sell my property to this buyer if the dang Realtor is in the way?
Realtor or no Realtor - what kind of contract/paperwork would I use to allow the buyer to purchase this property from me even though I'm not the title owner?
Thanks in advance for all respones.
Real estate agents always have clients interested in your house, or another one just like it but fifty miles away for half the price.
I'd assume that the agent simply wants the listing, and doesn't have a particular client who wants your particular house.
your the contract owner of the property, you can sign a contract with the realtors client, happens all the time.
This depends on a few things, but I had a question that was close to yours in content. I was told to asign my option to the new buyer for the price differnce or come in as a lein holder, or do a double close. Let me back up, I wrote the option on a property, I made sure I had assinment rights...if someone came along who offered me more money then what me and the seller agreed to I could make a profit...which is what i want to do everytime. In your case I wouldnt want the realtor squeezing me too much, you have to see what % they are talking about. Hope this helps a bit
The original question sounds like theory.
1. The realtor would be incorrect if they said what was posted. You can sign a contract. It would be for your interest in the property. At the time of closing title would go from the seller to you and then to the new buyer. Or, you could sell the option (assign it) and be paid for your interest. The buyer would then close with the seller.
2. Agreeing to work with a realtor who has a buyer would be a good idea after you have adjusted the price to reflect any commission the agent expects. You need to find out if you will be paying the agent as the buyer's agent, as you agent (a listing but limited to 1 transaction with one buyer), etc.
John
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