OfflineA Win-Win for Buyer and Seller! I was transferred and had to sell my personal home in a down market. Moving out of state, I didn't want to rent my home out and have to travel back and forth to check on it. Property Management companies in Santa Fe, NM were very expensive. They charge $500 just to write the lease!
I purchased this small 1017 sq ft pueblo style home in 2007 for $222,000, typical for Santa Fe in a good market. In today's market, realtors were quoting me $150,000 to $180,000 sales price range! I still owed $212,600 on the home and had no room for a commission.
I tried a For Sale By Owner sign in the yard for a few weeks…not one single phone call!
Next I posted a standard ad on Craigslist for sale at $215,000…again not one single call!
In desperation I posted another ad on Craigslist entitled "Best Deal on Craigslist" with 4 good photos. Body of the ad claimed owner desperate to sell, lease-to-own, owner financing, all investors welcome! This ad brought in 7 calls the first 2 days!
The last buyer of the first day to look at my home wanted to buy at $215,000 with $2,000 down and close within a year, but I gave the buyer 2 years max to close. The home was a perfect fit for the Buyer and the offer was a perfect way for me to move on and not loose my shirt in the process! Oh, there is a God and he brought this seller the perfect buyer!
I used Dean's form found here "Agreement to Lease with Option to Purchase". Thanks Dean! And a special thanks to Greg Murphy for his video in the Edge 2010 on Lease Purchasing!
Ed, that is great news man! I'm really glad you were able to take a possibly lousy situation and turn it into something positive.
Thanks.
Brian Carter
Yes, I felt VERY BLESSED with how it all worked so easily!
I may try to buy a lease/option at my new location…renting now for 6 months.
Ed
Hi Ed,
Wow what a great "win-win" it was.
Congrats,
Peace and Blessings,
Sheila
“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light not our darkness that frightens us. Actually, who are you not to be? You are a child of God. Your playing small doesn’t serve the world. There’s nothing enlightened about shrinking so that other people won’t feel insecure around you. We were born to make manifest the glory of God that is within us.”
- Nelson Mandela
Glad to hear this worked out great for everyone
Lea
Wow Ed,
Great Job! I am impressed at your Craigslist 2nd post and the best part - you were able to sell for more than you owed - bad naysayer realtors!! ha ha
Great job and very inspiring how you used Dean's methods as the seller instead of being the usual buyer!
Wishing you much continued success.....
Lisa
My DG Journal/Journey - http://www.deangraziosi.com/real-estate-forums/investing-journals/65333/...
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you; plans to give you hope and a future." - Jeremiah 29:11
Success is always to be found on the other side of FEAR! Don't stop, push over the mountain to success waiting on the other side!
Great job, a little knowledge goes a long way!
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
wow that is a blessing from above and the moving part is always hard. god bless to you sir and keep doing what your doing