Option Contracts For Cash Deals

[Zach Schaar]

Hey everyone,

Just wondering if any of you guys n gals wholesaling are still using option to buy contracts (not lease option) for your wholesale deals, specifically in Columbus, OH.

I know at a certain point in time people moved away from them because the RE Commission was saying that wasn't allowed. Mainly because most wholesale option contracts state your looking for an end buyer, while still giving you equitable interest in the said property.

Anywho, just curious if anyone is still using these, or if most are just using the standard p&s contract with an assignment clause.

Thanks!

Zach

[Bruce Kozak]

Hi, To the last point, what if the Option Agreement didn't say anything about finding a buyer, but that you as Wholesaler just had the Option to buy it (and of course assign it)? Then, would that avoid raised eyebrows about acting as an unlicensed agent?

Bruce