I am interested in buying a house here in Los Angeles Ca.
Since there is no one interested right now I want to have the option to purchase secured, for say 6 months. The seller wants to sell it to me but I just want to have an agreement that I can buy it at a fixed price within a time.
I have a form that is simple and says the above option but is it legal? Can someone else swoop in and buy it first even though I have this signed by the seller?
If it is legal, do I also have to get it notorized or recorded with the city to make it binding?
2007-02-19 18:23:44 · 2 answers · asked by artguy90291 2 in Business & Finance ➔ Renting & Real Estate
I've heard of options like the one you describe. I've even heard of people selling the options too, but usually it is on commercial buildings.
2007-02-19 18:31:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I would get a real estate agent and an attorney involved right away to protect your purchase.
I just bought a house in Brentwood 2 months ago the exact same way! It's a great time to purchase.
I had an attorney present and we worked it out!
2007-02-19 18:28:25 · answer #2 · answered by traderb550 3 · 0⤊ 0⤋