lease purchase gona work

maybe a profit here ? my parent neighbor are almost done building there new home , there curent house is 4 sale with agent an not getting much attention. from talking with them they seem motivated to sell . they already dropped the price by 50k after 2 months on market .home is 8 acres wooded with stream through propertie . main house + small quest house / inlaw quarters. they have been there 25 years an property is well taken care of . they exspesed to me they are curently making 2 payments (new house and old house ). current price is now 475k thats after the 50k price drop. what should i approch them with ? if numbers work i would like the creatively buy and sell with out much cash in deal . but my concern is sellin a property in this price range . will i realy be able to find a tenant buyer for a higher price property?
thanks for your advice .

If its still sitting at the reduced price the price is still too high for the market…I’m not really sure how you plan to make a profit AND move it fast.

how about a straight option @ a price you both agree on? if they are really motivated you all can agree on a much lower price than the current asking price. you need to make these people
realistic(educate them). RE prices have recently dropped, in
some cases up to 20%. ask if they have an appraisal(recent
-3 months or less). have you pulled comps yet? due diligence
& education will tell you if this is a deal.the chances of an A buyer in that price range are slim (i think they are seeing this, but remind them). 50k is a nice drop,but not enough. remind them ,gently, that if they get into problems with 2 payments their credit will be at risk. (just suggestions) . if you can option it for 60 days(for 10 to 100 dollars) at the right price,market it to death & you might make a profit by controlling the property & you never even owned it & the risk was minimal. the cost is minimal too (option fee & marketing) . i hope these ideas help.
harriet(fl) :bobble

sorry, i forgot about the RE agent. when does the listing expire?
if they are in the picture they will want a fee even if YOU find a buyer. :banghead details !! details !!


im not sure about the agent . i was riding my dirt bike around my parents property one saturday an they (the neighbors) came over an introduced them selfs to me , they very nicely asked me if i would mind not riding on sunday b/c they were having a open house . so i tryed to get some details out of them about the situation . i didnt mention to them about me trying to buy or get rid of the house for them. i just got some lil details and they just exspressed they didnt want me riding my dirt bike or anything eles to scare away any potential buyers casue they have had barley any intrest so far … and that was about a month ago and the property is still for sale …how about take care of the agent or wait till the contract is up … get a option and then get a auction company to sell the property?

their price may not be realistic, so it’s not moving. find recent (3mos.)
comps. do your due diligence & offer low. these properties ,in this price range, are hard to move. how long before the contract expires?