Step 3: Marketing the option. To effectively market and sell your option, you need to create an information packet that provides the following pieces of information:
- 1) The year the property was built, along with the type of construction and architectural style.
- 2) The property’s geographical location, to include any special features or benefits about the area.
- 3) A brief description of the building’s interior including but not limited to square footage and geometrical shape of the building, spacing between interior support columns, ceiling and overhead door heights, type of heating and cooling system, and the size and shape of the lot.
Market the property, not option. What you are really selling is the real estate asset that underlies the real estate option agreement itself.
Step 4: Work with a local real estate attorney who knows how real estate options work so that they can help you assign your option properly and legally to protect yourself and your Option Buyer.
Real Estate Options can be an amazing tool to utilize in your arsenal of investment strategies to make bigger and better profits from real estate investing.