I contacted Sell by owner on craiglist via email and sent to him a link to my website. he filled a seller form , we talked on the phone and we meet to sign option agreement for 130 k for 45 days.
His sale by owner ad - is all over on line for 135.9 K .
HOW COULD I ADVERTISE ON LINE WHILE HIS AD STILL THERE?
Any thoughts - how to overide his ad from all major marketing websites? thank you
You can't advertise the property, you advertise the right to buy it.
$5,900 under asking price, after settlement costs that's not much of a deal, most would thing they could buy at that price anyway. Only retail buyers could bite on that.
Rights to advertise a FSBO might need to be addressed in your contracts.
Had you been looking for properties that you knew were marketable to specific buyers you wouldn't have this issue.
Before you contract on a property you need to have a marketable game plan, what to do with it. Getting a contract like that could be done easily on many properties, but then what? Seller probably loves the idea, someone beating the bushes for them making half what a Realtor would get. I would never have done that deal and I'd consider telling the seller to forget it as all you're doing is keeping a real sale from happening, that would be doing the seller a favor if you can't really buy it. :)
Ask the seller to take them down. I would approach them with the following tack: Why are they still advertising it if you have a deal?
Tell them it makes you nervous they still have for sale ads up.
The issue is that it should have been addressed before hand.
So, then the seller say's "Sorry it makes you nervous, but you only have an option, the right to buy, you have no commitment at all to buy. I'll keep collecting offers over the term of your option.....unless you actually want to put it under contract to buy in which case I'll take all my ads down and we can go to closing. "
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.