Is This A New Twist On The Exit Strategy?
when l/o-ing a home you have in an appreciating area:
Instead of listing a sale price can you just sell it for "FMV at time option is exercised."
has anyone done that?
Verb
verbatim,
Who doesn't do it that way?
If you don't you are leaving your money on the table.
John $Cash$ Locke
OK, so is there court-tested wording in the option that gives you power over choosing the appraiser, etc...
How is FMV determined, and who has any say over it?
Wouldn't it make sense to include a selling price at the time the option is created but then include in the agreement, "Option price or fair market value, whichever is greater."?
Paula S.