Forum Replies Created
Hey Jeremy,
Your very welcome and thanks for the thumbs up :)
I think you will find there is no real hard and fast rule or formula when pricing a property. I believe a property is worth what someone is willing to pay. Having said this 25% above its current market value seems to be quite high (in my opinion), although if you think this is achievable then the only concerns that you may have is the valuation stacking up when your buyer obtains bank financing.
As for your buyer building up a 20% deposit, this will defiantly make it easier for the buyer to obtain bank financing at the end of the option period.John
Hi there,
I have just put a Lease with Option together last week and its funny you ask if 5 years is ok, as the Option I have just completed was a 5 year Lease Option.
Generally I would aim for a 2-3 year Option period although I find up to 5 years is still quite ok.
As for setting up a lease Option with the purchase price increasing with the Option period you will find that this is quite achievable and could be completed in a number of ways.
