SELLER NOT READY.....OR BAD DEAL ?

General Real Estate Investing
1

Just looking for input on this

A family member made a offer to a seller whom has a realtor

And it is on a property that has been sitting empty for over a year

1 ) no down
2 ) option the property for 24 months at 700 a month with 1 / 2 to go to buy
3 ) at the end of the 24 months will buy at 80 k
4 ) put in option contract if do not buy will pay seller 5 ,000.00 fee for not following through

Sellers realtor came beck with we want to pull your credit and we want to have 1 ,000.00 up front
and then we will look at the deal more

I think this is a not so ready to sell person or may be the realtor is in the way and the seller never saw or knows about the offer ?

I was looking for some input on this was this a good offer ?

If not what could be changed ?

Is the realtor just getting in the way and possible not even telling the seller about the offer tell she gets what she wants ?

2

This is a little diff. maybe the Realtors first one.
#1 no down. Great but apply the 1000 as option consideration.
#2 24 mths at 700 with 50% rent credit. good deal.
#3 80K after 24 mths. Is it worth it? plus the 350/24 mths Rent credit and minus the 1000 for total price.
#4 5000 fee. not this guy.
Run a credit check. I’d do this to and inquire about job etc.
herbster

3

Thank you for the input on this

I went and looked at the property and it think with some work it could be worth 110 K + -

I think they have a big problem with if the pipes are all good as this property has ben empty for over a year now

As well this realtor is not asking for the 1,000.00 as a option fee

But just a fee to be held to the end i guess just in case some where the monthly rent is not payed

More like a security fee then any thing else ?

This is not my deal as i said
So iam sort of shootting from the cuff on things