Easily Hide Selected Option in the Real Estate Purchase Contract

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How to Hide Selected Option in the Real Estate Purchase Contract

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yeah what i would need to do with you is is do you know what an option agreement is if youre into wholesaling real estate and you find a motivated seller whos willing to sell his property at a discount you really need to know when its better to use an option agreement instead of a purchase agreement on this video im going to break it down for you and even show you a real live example of me on the phone with a seller all of that and more coming up this video is brought to you by flipster the nations number one real estate software with tools for finding funding and flipping houses check it out now at getflipster.com if youre new here im jerry norton i went from dead broke to millionaire flipping houses and after doing a thousand deals i created this channel to help you master the art of wholesaling and flipping real estate so you can live your dream life be sure to subscribe and click the bell icon to get notified when new videos are released as you know once you agree on a price

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What is the difference between an optionor and an Optionee?

An option is a right that the owner of a real property (the optionor) gives to another person (the optionee) to buy certain property at a fixed price for a definitive duration. An option is an offer that binds the optionor to sell, but does not obligate the optionee to purchase.

What is the difference between a ROFR and a Rofn?

Unlike a right of first offer (ROFO) or a right of first negotiation (ROFN), a ROFR requires a seller to actually offer the exact deal requested by an interested third party buyer to the holder of the ROFR a very powerful option to have in MA scenarios.

What is the downside of right of first refusal?

Cons. A right of first refusal includes a specific timeframe, so you must be ready to move. That could mean coming up with a payment in short order. If the ROFR includes a predetermined selling price, you could overpay in a market where property costs are declining.

Can the agents hide offers?

Every states laws are different, but generally, if the seller has instructed his agent in writing to withhold certain kinds of offers, then the agent wont present those offers.

What is an example of an option period?

For example, if the contract effective date is Nov. 1 and the negotiated option period is for ten days, the option period would end Nov. 11 at 5 p.m. local time where the property is located.

How does a first right of refusal differ from an option quizlet?

- A right of first refusal gives a potential buyer the first opportunity to buy a property when the owner decides to sell it. - Unlike an option, the potential buyer has no right to buy the property until the seller decides he or she wants to sell.

How do you explain right of first refusal?

In real estate, the right of first refusal is a clause in a contract that gives a prioritized, interested party the right to make the first offer on a house before the owner can negotiate with other prospective buyers.

What is the difference between an option and a right of first refusal?

An option to purchase provides that a tenant can request to purchase the real estate on or after a certain date. A right of first refusal (ROFR) states that before a landlord can sell the real estate to anyone else, he or she must first offer to sell it to the tenant.

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