I believe there are investors out there who create lease options with no expectation the T/B will ever exercise it, and they're ready to evict and keep the option money at the slightest opportunity.

This allowed for the tenant buyer to roll in closing costs, and come with little or even no money to the closing table when exercising their option.I would imagine that some lender out there still has some similar way of treating a lease purchase.

On any given day, we have between $30 Million and $40 Millon dollars worth of property under option contracts with the seller receiving nothing other than the first month's lease or interest payment upon us exercising the option and renting/selling it to a third party tenant/buyer.

My question to you is if i find a seller that is motivated everything is a go and i have the property for lets say 14- 30 days or however long the contract is for and i drop the ball and cant find another buyer... am i obligated to buy the house or does the contract become null and void?....

That was the net result of the Dot.com bust.When AG dropped rates the way he did, he started the ball rolling.

Keep the ball rolling and don't slow down.

On another note, do you ever give a "ball park" offer over the phone or do you always visit the property and make a final offer in person with contract in hand?

Check here, for a quick summary on "Option Contracts".lawyers.comIt becomes equitable once you exercise your option to buy.

But this does get the "ball" rolling.

Ok i guess i'll get the ball rolling.It doesn't state what's in it for me as the investor!