Updated almost 5 years ago on . Most recent reply
Lease Option objection
Owner has property for rent and is willing to sell property on lease option which is great but the owner want a application filled out with $50 fee. right the deal is stalled because I am not giving him a $50 application fee My question is has any body run into this before how do you over come this objection? I am thinking of moving on.
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
Would you seriously let a stranger move in to your house without a background check?
Heck, would you let a stranger drive off in your car without a background check?
If I was the seller and my “buyer” balked over $50 I would block their phone from that point on.
If it’s a 4 year lease to buy you’re talking $1/month. Did you haggle down to the dollar about the lease?
Hard to convince someone you have thousands to invest in real estate but you can’t afford $50. What do you tell the bank when they want $1,500 to process your purchase of the option in the future? No way? The $400 inspection? The appraisal? The utility connect fees, the insurance, etc etc…
You probably want to take a break from looking at real estate. I would LOVE to have $50 problems.