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Updated about 13 years ago on .

User Stats

56
Posts
6
Votes
Charles Hill
  • Multi-family Investor
  • Vancouver, British Columbia
6
Votes |
56
Posts

Non-Exclusive Purchase Option in Washington State

Charles Hill
  • Multi-family Investor
  • Vancouver, British Columbia
Posted

Dear BP Members;
What I would like to do is make a non-exclusive offer/contract with a seller, and I'm not a realtor, in Washington State. Basically I see it working this way. I would negotiate with the property owner and let the owner know my intentions which are: "I am not a realtor who wants to tie up your house with a ‘listing. I am a real estate investor and I have a plan to help get your home sold where I will market it at my own expense and on my own time."
In the meanwhile, you can continue to sell it yourself, or even list it with a real estate agent. If you get it sold first, I walk away and you owe me nothing."
"I would like to have a ‘non-exclusive option’ to purchase your home. Like I said, this means that you can continue to sell the home any way you like, and I will just be another ‘marketing’ method in your homeselling toolbox. I will do my best to find a buyer for the property within 15 days, and if I do, anything I get from them ABOVE what you and I agree upon as a price will be my profit. Would you be interested in finding
out more about it?"
(1) I would use the 5-day home marketing method made famous by Bill Effros.
(2) I would put $1,000 earnest money, to show I am a principal in this agreement and have the EM due at closing from escrow.
(3) I would like to have a Buyer's Agent (mine) to assist me with this process.

I welcome the BP Membership to critique this strategy. I know you will be honest and I can read, without blame or judgment, your professional opinions.

Thanks
Charles Hill