Financing The Buy Option
So what I understand is that the buy option allows you to basically make a deposit on the property as a good faith or earnest money so you basically control the property without buying it up front. Lets say you have 30 days before the buy option expires, you find a buyer to pay $125,000 and your had entered a b/o agreement for $100,000 - whats next? Do you actually buy the property yourself and then sell it as soon as you receive the deeds? That doesnt seem cost effective with taxes and fees, so I am assuming there is a way around this?? Thanks in advance! :coolgrin: :-S
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Hey Chris, thanks for the reply. When I said I wanted to avoid taxes and fees I did not mean ALL taxes and fees. But the latter option I expressed in post 1 would have included a ton of taxes on capital gains and closing fees.