Hi Paul,

I want to get in Vendor Finance sometime in the year or early 2011 – any issue or difference in requirement of ACL application after 30jun2010 deadline?

Regards,

Jason

Hi Paul/Terryw,

back the earlier statement – just want to get the flow of the transaction right.

“Find a buyer and then when found you assign them the option”

so say vendor wants $100k
Buyer buys it for $120K

So I simply use the ‘Assignment’ (not the nomination clause) clause to assign the option for $10K or maybe $20K (as a form of deposit?), and on the day of settlement, they will settle on the property $110K ($120K-$10K) with a cheque made payable to the vendor.

$100k to the vendor and remaining $10K passed on to my account . Is that right?

Is there any difference between the ‘assignment’ or ‘Nomination’ clause … or are there similar?

Regards

I believe with lease options now – a tenant/buyer must pay stamp duty up front. So that is one thing you must consider for the tenant/buyer.

Unless some one who has experienced in this Lease Option area – how do you work with this stamp duty issue?

Hi Paul (or anyone here),

With ‘back to back option’, or even a straight call option – in what seems to be a *rising* property market, is it still possible to get such a transaction done with a motivated seller. If so, what would you do differently (??) to get an agreement with the seller?

Thanks