How to Talk to Vendors | Purchase Lease Option Agreement

How to Talk to Vendors | Purchase Lease Option Agreement | Simon Zutshi

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Simon Zutshi

Күн бұрын

Пікірлер: 24

@oai9106 4 жыл бұрын

Very well explained nice 1 thank you very much Mr Simon

@MrDeltonprins 4 жыл бұрын

very well explained . Thank you Simon

@SimonZutshiOfficial 4 жыл бұрын

Thank you for watching Delton

@jackiea7965 4 жыл бұрын

very good clearly explained and well understood

@derrollindsay8006 3 жыл бұрын

Thank you Simon

@jonathanayres7789 2 жыл бұрын

Does anyone know how much you should expect to pay a solicitor to set up a purchase option agreement? (And can you recommend a good solicitor to do it?)

@knownsensesocialmedia7618 4 жыл бұрын

Hi Simon good videos. Can you recommend a good solicitor not all aware of PLO and also a lender too. Thanks

@jackiea7965 4 жыл бұрын

Thank you, I have 2 landlords that have responded to my letters and will use this explanation

@propertynetworking7434 4 жыл бұрын

That's great news Jackie

@martincash7810 3 жыл бұрын

How did it go?

@steveharman8907 Жыл бұрын

Hi Simon. Do we write a clause to cover if they die during the contract period.?

@markfitzy.86 4 жыл бұрын

Hi Simon, would most solicitors be farmilliar with this sort of contract? Or can u recommend someone? Cheers

@liszaf3976 Жыл бұрын

I have a question lets say the property goes up a lot in value, or the owner dies and you have to deal with their kids what's to stop them pulling out of a lease option! And also what if the price falls can we pull out?

@trushinshine 3 жыл бұрын

Hi, when it is appropriate to seek legal advice during a lease option transaction?

@petercoakley5497 5 жыл бұрын

Thanks Simon, good advice as always. Currently putting what I have learnt about PLOs to work and negotiating multiple deals to get my portfolio started. One owner I am speaking to has an interest only mortgage which runs out within the next 4 years, so needs commitment to sell. The only way around this I can see is to remove the option, and have a guaranteed purchase after say 3 years, but retain the right transfer the agreement, i.e. sell it on if I don't want to buy it. What are your thoughts on this, and are there any other options I could suggest?

@972Yvan 5 жыл бұрын

Hi Peter , looks like you will have to commit to the purchase if you wish to progress that deal. have you negotiated to deduct the option fee and the monthly rental from the price agreed ?

@petercoakley5497 5 жыл бұрын

@@972Yvan yes, and also did suggest to remove the option and commit to the purchase in understanding the sellers predicament. Unfortunately, although the seller was keen on the idea someone swooped in with a full asking price offer mid negotiation so this one wasnt to be, so onto the next one 👍🏻

@propertynetworking7434 4 жыл бұрын

Hi Peter sorry for the delayed response. Make sure the contract is assignable and so if you don't want to buy then you can pass the deal onto someone else. Hope this helps. Kind regards Simon

@ruhultalukder8643 2 жыл бұрын

Hi Simon, I am your big fan and follower, I get massive help from your videos . You are just another top level! Keep up the good work! I have a situation, please can you help as you always do - 3 bed terrace house in east London Freehold Agreed price : 400K Upfront payment :£15K Property need refurbishment: I will spend : 30K Vendor is only agreeing 18months PLO contract I need to pay £800 per month as rent to vendor after 4 month from agreement until I buy it ( 4 months for refurbishment) After refurbishment: property will value £550K There is no mortgage now Rental value £1700 pcm after work done Questions- 1. What strategy do you recommend in this scenario ? 2. Can I get 75% LTV when refurbishment done ? 3. I don’t have enough money to show 25% deposit paid , (100K) , as I only paid 15K to vendor as deposit , will that be issue to get 75% LTV? Any suggestions will highly appreciated! Many thanks , ruhul

@garryloney552 14 күн бұрын

Hi Ruhul, would be great to hear what was the outcome of your situation, wonder if you would be open to sharing