Where and When are You Allowed to Offer Options

Purchase Lease Options are varied, flexible and fantastic and can be explained and offered anyway and on almost anything. They help vendors struggling to sell their homes/properties who may have stressful situations of which there are many, but can also allow for more profit to vendors who aren’t in a difficult and stressful place and who use the strategy to create more profit than they’d get with a straight forward sale.

As long as you aren’t aware the vendor needs all their money out (more than you are prepared to put down as a deposit), then you can offer on every deal and that’s what we do.

If you don’t know the vendors situation in detail you have nothing to lose in suggesting this strategy as long as you explain it simply and well.  Where you do know their situation always be empathic and suggest it only if it could solve their problem and work for you at the same time.  I understand that when a family are living in the property it may seem likely that they will need the money out of the sale of the property in order to move on, but never assume that’s the case, you could miss out on a deal. 

Where does one explain an option deal?  Well it depends who you are explaining it to. 

I never go into an agency and try explaining it with loads of ears listening, telephones ringing and probably a host of other distractions.  I want to be somewhere where I have complete attention from the agent.  Usually that will either by at a property I am viewing or meeting for a coffee or on the phone.  When explaining it to a vendor I always like to meet them. When I explain the strategy I speak slowly, with pauses, watching their expressions and body language, making sure that I sensitively use their situation to explain how it would work.  Where at all possible it is wise to build up rapport well before you broach the subject, this way they are far more likely to be prepared to listen.