Call option deeds, or 'option contracts'. Investors love them and vendors hate them. This is a common misconception as vendors are starting to get the message, particularly in today's buyer's market.
How do they work?
In short, option contracts give investors the right to take control of the property without the obligation to purchase. This is typically useful for developers, who are looking for some form of value-add on the property, such as a DA for splitting, etc. Most developers then on-sell the property (with improvements) and reap the benefit of not having to pay stamp duty, minimising transaction costs, etc.
The art is in convincing the vendor this is a good result for them. This is when you get your favourite buyers agent working for you (that's us, by the way)!
Sound appealing to you and want to know more?
Contact Morpheus Property on 1300 727 586.
Yours in property!
06 August 2008
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