writing an option contract

[mesha]

i am uder the assumption that a normal PA can be turned into an option by siply adding an addendum. so in the adendum would you put something to this effect.
This contract is agreed by both seller and buyer that it is granting the buyer x amount of days to purchase this property for x amount of dollars. buyer has the option to back out of this contract for any reason by the setforth date.

[multiman]

hi-
you could do that but it dosent realy cover much so your not as protected. its very easy to find a good lease option contract on the internet. if you want it to coinside with your purchase contract just put in the conditions section that the contract is contigent upon the signed, attached lease option. thats how we do it here in ct anyway.
jim

[auggflo]

I'm a newbie in CT. Can you tell me where I can find a good Buyers and Option Contract? Also where can I find a title company that knows about creative real estate financing? As a newbie I have alot of questions and I'm find a lot of good answer here from. Thanks to all of you.

Auggflo
East Hartford, CT

 

[mesha]

i didn't mean a lease option. i would like to get a rehab property under contract without doing the rehab. i would like to find a distressed property and ask the owner to give me say 90 days to buy it. if i can can find a buyer to assign my option to then i can "wholesale it". so i need to figure out where to get a straight option or learn how to turn a PA into an option. any insight is appreciated