L/o Assignment
hello,
I am a renter w/the l/o. i can also assign the option to purchase to a third party.
in NYC does that mean the same as i can sell the property?
hello,
I am a renter w/the l/o. i can also assign the option to purchase to a third party.
in NYC does that mean the same as i can sell the property?
If you can assign the Option, you can sell the property. Does it forbid you from subletting?
Thanks, I got your reply.
How sure are you about this for NYC.
The option doesn't allow me to sublet.
The vital part is do i have the ability to sell if the title or deedis not in my name?
How am i to get it listed if the property is not mine - just the optio nor the ability to assign my opton to soemone else?
I thought you said you were allowed to assign the Option? All Contracts are assignable unless specifically prohibited (but you cannot assign obligations or liability). Likewise, all Leases can be sublet unless specifically prohibited (it is standard for a Lease to state that there is no subletting without approval of Landlord). If you have the right to buy, you also have the right to sell. I don't think you can list it unless you are the Owner, but why would you want to list it? The Owner can do that themselves. The idea is that you can offer more creative alternatives to handle the Seller's situation and solve his problems.
So this is the same as getting a finder's fee for the connection to the title holder after they've cleared through process?
How do i go about getting additinal information as the specifics of doing this. i'm working on a very short time frame 60-90 days
Why such a short window of time? When did you obtain the Option? Is there also a Lease? I take it your Option is about to expire. You can do a simultaneous closing or collect an assignment fee (providing the details of your Option do not forbid assignability or transferability).
Yes option is about to expire, yet i thought i could sell and was told icouldn't. yet if i can do that w/o listing that would be great. i'm just not sure how to go about doing that.would that be a FSBO?
Have been attempting to sell the assignment, yet investors want to buy low/sell high.
If there's no provision in the Option barring it, then you can sell the house.
hi,
I'm very new at this, but a quick study.
How can i go about doing this - or can you point me in the direction of someone who can explain it to me simply?
My best efforts are to not walk away with $0.00
Place an ad in the paper. If your Option is at or near full market value, you will have difficulty finding a Buyer, unless you find someone who falls in love with it.