lease option questions from sellers

[Alexaundra McCormick]

hi everyone, things are going smooth. Doing some lease options and have been asked some questions from sellers before getting into it. They want to know can they just cancel the lease if they find the tenant/buyer unsuitable for they're property? What happens if they mess up the place and leave? and how can they be sure that the buyers will be good fits for them to lease option they're home.

Ive best answered these question as i talk to them but as I am new sometimes I find myself stumped. I want to sound professional and like they can trust me. I have a business partner who handles all the questions but sometimes they want to know from me becuase im on the phone at the time. Is there a quick answer I can give them so that I dont have to do soo much convicing.

Thanks

[Brian Gibbons]

Hi @Alexaundra McCormick

I'll do my best to answer these.

But first of all it is all in the approach.

They want to know can they just cancel the lease if they find the tenant/buyer unsuitable for they're property?

When a sign a lease you are making a commitment You are not dating, you are married, unless some issue comes up, like not paying rent.

If I have a seller that does not want to lease out for a while and have the tenant buy it down the road, I say NEXT re: Lease Option.

But that does not mean I can not offer a sub2 or a contract for deed.

What happens if they mess up the place and leave? and how can they be sure that the buyers will be good fits for them to lease option they're home.

Tenant Buyers must have "skin in the game" to move in, like 3% or $5000, whichever is greater, as a non refundable option payment. With that kind of "stick" why would they risk losing their money?

See this video, as I compare Selling with an Agent vs Renting vs Selling On Lease Option.

http://www.biggerpockets.com/blogs/3/blog_posts/29012-how-i-talk-to-sellers-with-no-equity