All Topics / Help Needed! / Option template

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  • Profile photo of honkytonkhonkytonk
    Member
    @honkytonk
    Join Date: 2003
    Post Count: 13
    April 11, 2005 - 3:59 am

    I want to offer someone an option on their property. How do i go aobut putting this in writing.

    Do I word my own contract or is this something that i should use a solicitor for.

    what do i do to stop the people im giving the option too from taking my money and selling the property to someone else for a higher price. (besides that fact that it may be illegal.

    Any ideas please??

    thanks
    honky

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    April 11, 2005 - 9:19 am

    Hi Honky

    I would strongly suggest that you use a solicitor to get the Option drawn up correctly. Your solicitor will then ususally place a “Caveat” on the property which will give you some protection against the owners breaking their contract, i.e. selling the property outside the terms of the Option.

    I hope this helps.

    Cheers, Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

Viewing 2 posts - 1 through 2 (of 2 total)

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