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! cool grin confused

Comments(1)

  • bscivolette25th May, 2005

    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.

Add Comment

Login To Comment