Learning Options and Lease Options

Controlling Strategies

Controlling means:

• having a right to buy but not being forced to buy

• we use an option to purchase to control

• we pay to an owner option consideration to make the contract legal

• this can be as little as 1 dollar (check with state law)
  

• this right to buy can be sold (assigned for a fee)

Strategies to think about with options:

When buying or controlling as YOU are the optionee (optionor is the owner)

• FSBOs want to sell

• Listed properties want to sell

• Landlords want to have a long lease and no hassles

• Distressed properties need to sell (in pre-foreclosure)