Has anyone ever done a Straight Option contract on a MLS listed property through a realtor?
If so can you please shed some light on the topic? How difficult is it to get an re agent to present an straight option or will they?
I’m assuming you are not talking about putting a purchase contract on the property with an option period? There will usually be a standard purchase contract that the agent will want to use and you can put an option period in place, then assign as usual.
Investors often use the forms too since they’re from the state’s real estate commission and provide the standard language needed to have a lavid contract.
I use straight options a lot. The answer to your question is…
If a realtor has a property it’s TOO LATE!
Options are used successfully when you can find an UNDISCOVERED property that is UNDERVALUED. By paying the owner for the option you lock up that property for a specific period of time.
Here’s an analogy for you… Can you bring someone to a car dealer and sell that person the dealers car for more than the dealer can sell it for? That is why options aren’t used when realtors have a listing for the property, In most cases.
Also one of the good selling tactics with options is that you get to avoid the realtor’s fee.