SC Purchase Option

[Doug F.]

I am posting this to get some feed back or general opinions on a couple of property listings, I have posted.

I am curious, since I feel these are very attractive deals, and I have had over 500 views of the deals, why no one has contacted me with any questions, interest or comments.

So I am just asking for honest critique or opinions.

I have a couple of residential lots in a South Carolina Golf Community for sale and as purchase options. I purchased these through a bank foreclosure sale at a very good discounted price. I am now offering them for sale, at small profit for myself and to move them in this difficult market..
I have listed them at about 40% - 50% below similiar lots in the community ( ranges from $25k - 65k). They are all attractive lots, couple of them are on the golf course, and all are level buildable lots, with utilities in place. The community is Savannah Lakes, in South Carolina, and offers very reasonable taxes, and a very low monthly property association dues, and no time table to build.

Here is the deal:
I have offered these for sale, a couple of them as purchase option, meaning, you can lock up the purchase of the property with a low deposit, which I will put in an escrow account(SC Title agency) for a year, and then close on the property after a year (tax incentive for myself) at a preset purchase price which is discounted. Also for those wishing I will offer some owner financing.

Given the state of the stock market I would think many would find this very attractive, to be able to lock in on a discounted property and not have to close on it for a year. Think of the equity and position you could be in, when this down cycle begins to turn, you have a property at 50% discount value, and not having to pay for it for a year from now. Also, for those who are aware of purchasing property through your retirement accounts (this could be a seperate blog) what a nice option, to be able to buy a discounted piece of real estate with your IRA and having control of it instead of having your money tied into a mutual fund, which you have little control.

With this all said, what is your opinion? anyone?

Thank you

DJF11