Lease option auction -Auction the Option Fee

[Bob P.]

Has anyone ever heard or experienced a lease option auction?

I was trying to think of the quickest way to get the highest option fee and pay long term capital gains taxes.

So if I offered my property at a fixed price for 12, 18, or 24 months and made the variable (auction part) the option fee.  

Any thoughts or experience?

Thanks

[Brian Gibbons]

Hi @Bob P. 

Its called a "Round Robin"

Do it on a thursday, say 4-7pm

All tenant buyers put down a minimum deposit of 1.5% of value

Call them all back to increase the option to say 3%.

You need to get a lot of people through the house to create competition, to compete.

I have done this a few times.

Good luck.