Option To Purchase

What is an option to purchase? This is a contract pretty much in your favor where it gives you the right to purchase a property for a certain amount.  You do not have to purchase the property, it just gives you the right to do so, if you choose to.  If you don’t exercise your right to purchase, you lose your option money.   Example with the lower end homes we give $10. to the sellers as a right to purchase their home. We now have the option to exercise our right to close  on the home or to assign our rights to another party.  It will state  in the agreement      ( contract) that we can assign to another party. They ( assignees)  are now the ones that will be closing with the sellers.  The time to close may be a month, one -two-three years, what ever the time agreement that is written in the contract.  Realize, options are very powerful since you can flip them and move on to your next deal.  Just  assign your right to purchase to someone else for a fee. They the new buyers are now going to purchase the home.  With the luxury homes we give $100 as an option to purchase and control the property and them we flip the homes for an even bigger profit. Thousands of dollars compare to the smaller end homes.

Copyright 2013 - Flip Homes No Money Down