How does the structure work with a lease option when the property is listed with a realtor?
Same in our neck of the woods. The Realtor would help to negotiate lease terms, option fee, & hopefully stick around to assist with the sale afterward once the "tenant buyer" exercises the option. They may want a % out of "Option fee" and may or may not charge a commission for the sale end.
In my opinion you can negotiate your own lease option without the need of a Realtor, it's just a matter of coming to the meeting of the minds & creating a win-win for both parties. However, if you are less experience in leases, contracts, negotiations or sales I would leave it to the experts, and as always whether you do it on your own or with a Realtor seek an attorney as well.
Hope this helps!
Thanks Toshia, I appreciate the advice...I know the realtor so I may see if she will work with me on this one.
@Toshia Booker-Blakeley I'm with you about doing your own lease potions. I only work with realtors on this if they bring that property or tentant buyer to the table. @Robert Parsons When it comes to these transaction their many ways to get them done, but at the need of the day it all comes down to you bro.
Wish you luck..and Welcome to BP
Realtors will typically blow up a L/O deal on a listing of theirs because their commission tends to disappear.
If you are buying and thinking of using a realtor to write up a Lease Option, I'd be REAL surprised if the realtor knows enough to be of any help. They get no training on them and dont get paid much for doing them, so are rarely experts on them.
Here is the straight answer.
I put all homes under contract with the SELLER as "Principal".
I then sign a listing agreement with my SPECIAL realtor team to "Sell" my contract. I pay the realtors from my assignment fee.....This works great and saves me time to do many more deals.......my 2 cents :)
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