Who can benefit from an option agreement?
Anyone who owns real estate!
So long as you own real estate, you may benefit from an option agreement.
Here are some examples of real estate owners who have been able to determine the option value of their real estate and then have been able sell their option for cash:
- real estate owners who are looking to extract equity from their properties without having to go to a bank or mortgage lender.
- real estate owners who already have mortgages or registered loans of up to 80% Loan-to-Value of their existing properties and are interested in cashing out some of the remaining 20% of their equity.
- real estate owners who have unique property that might not be "bankable" but want to take equity out of their real estate without being obligated to transfer ownership of their property by way of selling the property.
- real estate owners who have been turned down by at least one bank, mortgage lender or mortgage broker but are still looking to extract equity out of their real estate but need a non-bank, non-mortgage solution.
Although option agreements are simply the agreement to sell a property, title does not transfer to the vendor's unless the buyer and the vendor agree to the transfer which means that the vendor is able to get cash equity out of their real estate and they still own their property.