If he does end up exercising the option I am selling at a price that I am very happy with and don't care what he does with the place.

Trying to identify a particular note, then going to the bank to buy that one, will be an exercise in futility...see "wild goose chase".

Keep in mind, RECA, the Real Estate Council of Alberta, has recently upgraded all of the rules regulating the realtors, and they have become quite strict with disclosures, being careful not to exercise undue power and influence over a seller if you're licenced, etc.This course has proved to be more exciting than I expected, however.

Lets say the seller puts in a 5 year call provision, and decides to exercise it.

Obviously, this "should" decrease the UW time, but these loans can take up to 9 months to close s making them an exercise in patience.

This is a great market to help you enhance your portfolio.I hope to hear from you soon!

You can always listen when you are doing something else such as exercising, riding in the car, etc.

Currently under contract and when we did a title search we found out there is an IRS right to redemption on the property which expires on the 21st.I've done some research and it appears that these things normally don't get exercised but I wanted to see if anyone had some input on the process because I don't really trust any of the parties involved with the sale.

That includes free CMAsA Broker providing services as a Transaction Broker shall:(a) perform the terms of the Agreement to which this Addendum is attached;(b) treat all parties to the transaction with honesty and exercise reasonable skill and care;(c) be available to (i) receive all written offer and counteroffers; (ii) reduce all offers or counteroffers to a written form uponrequest of any party to a transaction; and (iii) present timely such written offers and counteroffers;(d) when an offer is made the Broker shall inform in writing the party for whom the Broker is providing services that such partywill be expected to pay certain closing costs, brokerage service costs and the approximate amount of those costs;(e) timely account for all money and property received by the Broker;(f) keep confidential information received from a party confidential as set forth in paragraph 3 below;(g) disclose information pertaining to the Property as required by Residential Property Condition Disclosure Act;(h) inform the party for whom the Broker is providing services that the party will not be vicariously liable for the acts oromission of the Broker; and(i) comply with all requirements of the Local Real Estate License Code and all applicable statutes and rules.

So, if you do a lease option, the main upside (if you believe buy and hold is better than financing) is hoping they don't exercise the option to buy and you keep the option money.