Lease options deals!!

9 Replies

Hey BiggerPockets World,

Quick question. I am looking to do a Lease Option deal however most of the for rent by owner on Zillow in my area has a listing agent listed. How do you do a lease option deal when theirs a 3rd party involved such as a listing agent? The way I’ve learn this strategy was three people. 1)home owner 2)you and 3)the tenant buyer you bring on board. Some clarification with working with the listing agent would be greatly appreciated or should I just avoid these?

Thank you!

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If the homeowner has already listed the property with an agent, there isn't much you can do.  Agents don't work for free and he/she will want to be compensated.  One more hand in the cookie jar, so to speak.  While working with an agent can be done, make things easy on yourself and deal direct with the homeowner.

Have the agent prepare documents. The DIY contracts often omit legal requirements need by law, and failed to disclose key items making lawsuit later difficult. 

Originally posted by @Kenny Charles:

@Joe Villeneuve that’s what I thought too. So why on Zillow They have a listing agent to contact instead of the home owner directly?

How do you know it's a For Sale By Owner? It could be that either the listing started with an agent and didn't sell, and is now a FSBO, or the reverse...an both listings are still visible.