Lease Option, How Do You Set The Price?
How do you make sure you dont price it to high that in a year the appraiser comes in and says the place is not worth that much? Do Appraisers usually approve unless it is to crazy of a price? I have been thinking about buying a place for $45,000 and selling it for $55,000 to a rent/buyer in a year. The place is out in the country and has been on the market for a long time and the price has been reduced many times. Is it a good idea to buy a place that has had a hard time selling and then selling it lease /option at market price becuase places sell faster with a lease/option?
Heyshid,
I have an application that can hep you determine or structures the LO deal for you. Send me an email and I will email to you.
RVATX
[addsig]
You could always make the price contigent on new apprasisal a year from the contract date. Or you could price it high and make the buyers come in with the difference b/t purchase price and appraised price.