Option to Purchase Agreements control properties

Straight Option To Purchase Agreements have a history in Land Sales, where the investor controls the property with little money.

But we use them for Wholesale Flips to Wholesale Buyers and Retail Buyers.

A Non-Exclusive Option to Purchase Agreement is used with a Seller that wants the right to sell it themselves.

They might be For Sale By Owners - (FSBOs or Private Sellers) or

Listed with Agents-Realtors.

FSBOs are the easiest to deal with.

A FSBO wants:

• Speed in closing
• Their Price
• No Hassles

We use a Non-Exclusive Option to purchase agreement.

• The seller can sell it or we can sell it.
  

• We record our option to protect ourselves (Memorandum of Option).

• This is also called an Open Option. 

• This merely states that I have an Option to buy the property for a negotiated price, but that we don't take the property off the market. 

• The Seller can continue to market the property or even list it with a real estate agent, but we still have a right to buy the property at a certain price.
• Since I didn't tie up the property, we can give monetary option consideration of $5.
• The sellers do not expect any money.  Like an agent does not give any money for a listing.
  

Once you have a Non-exclusive option to purchase in place, you need to build your Buyer's List.