My buddy wants to buy the house he is currently renting. He doesnt want a lease-option but a straight buy. He hooked up with a buyer’s agent who wrote up a package to send to his landlord. I was pretty impressed by the presentation but thought I’d see if anyone else has advice as to what else to include.
The package contains:
- Complete CMA
- Adjustments based on the property’s problems
- Points out that this is the last year they can sell and not pay cap gains (The landlord occupied the house a couple years ago). They bought it in '99 for 360k and the offer will probably be in the high 700’s.
- Points out the $ they’ll save by having to evict a tenant when/if they decide to sell (payouts are common in this area).
- Explains that the landlord can NOT use an agent and pay their buyer’s agent 3%, use a selling agent from the same office and pay 4%, or get their own and pay 5% (norm in the area).
- Includes copy of earnest check made out to title co. and explains the financing planned.
Thanks for any input,