Tenant Buyer: Option Fee? Classified Ad Help?
What Option Fee amount should I accept on a house we can sell for $210,000? I’m referring to a Lease Purchase Tenant Buyer.
Specs:
3 Bed 2.5 Baths
2 Car Garage
2 Story
Any suggestion on ad copy would be appreciated greatly?
[addsig]
A bare minimum of 3 percent, but ultimately as much as you can get.
[addsig]
You know, as opposed to requesting a set amount, why not ask all of your potential tenant buyers how much they have to put down on thier new home. You may get more than you would ask for. Also, if they do not have the 3%, you can always take what they have and hold back a note for the remaining, however much left to make 3-5%, and have them make payments on it along with thier lease. Like a few hundred every month until the balance is paid off. Just a thought.
I agree that you should take no less than 3% on the final price that you agree with the tenant buyer, not the price that you are buying the house for.[ Edited by Leftoverchinese on Date 11/16/2004 ]