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I found a motivated seller in another state willing to sell her house for what is owed because her husband had to relocate for a job a year ago, and she stayed behind to sell the house. I would like to get an option contract on this deal and sell it to another investor.
How would I be able to do the contracts to the seller and end-buyer if they're both out of state?
e-mail, fax, or have someone in person?
Thanks for any advice.
Write up the option to purchase agreement and e-mail or fax it to the seller. Get them to sign it and send it back to you. Market the property for an end buyer. Get photos/videos from the seller. Also get a way to show the property to the end buyer.
Once you get a qualified cash buyer, send them to the property. If they're interested, assign the option to purchase agreement to the end buyer and let them exercise the option to purchase with the seller. Collect your assignment fee and you're done. Or, exercise the option yourself and write up a purchase and sale contract with the seller. Then assign it to the end buyer. Collect either the full assignment fee or a non-refundable $2,000 deposit. Then send the contract and assignment of contract to a title company to start the closing process.
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