I've scheduled my first appointment with a very motivated seller on Sunday afternoon 6/13/10 to talk about either buying or lease optioning his home. I'm very excited but nervous that I may come off as a rookie(I am) may kill the deal. Its a very nice home in somewhat of a higher income neighborhood. He needs to sell so that he can move out of state(found this out through forsalebyowner.com). He's open to my ideas but is very skeptical.
So far I've told him that I may be able to assist in a smooth transfer to his new area of residence by removing the burden of worrying about his existing home. I told him that I may be able to either purchase his home or cover the payments on the home until the home sells, however long that may be. All of this has been done through email. Well, he's very curious as to how I can help him out.
Does anyone have any advice on the verbage I should use when he asks exactly how am I going to cover his payments every month until his home sells? I mean I don't wanna tell him I'm gonna rent it out(lease option) to someone else because he may not like the idea of someone he doesnt know living in his home while he's living out of the state. I wanna be able to give him an answer that will allow him to gain confidence in me but not totally give it all away.
Also, is it better to attempt to agree to purchase home "subject to" or lease option. Which strategy works better and/or does it even matter as long as you get the house under contract? Does someone have a copy of a lease/option agreement that has been filled out before in a previous deal that I may look at so I'm familiar with it.
I want to come across as a knowledgeable, professional REI who has his stuff together instead of someone who is trying to put together his first deal if ya know what I mean!! I need some answers soon so please someone hook me up with some good info.