The world of property options and option contracts needs to be explored and mastered just like any other part of real estate industry. Mulisa, an option contract expert joins us in this podcast to share his experience and journey in this field.
Mulisa, Development Acquisitions Consultant & Options Contract Expert. For the last 3 years, he has been fully immersed in successfully seeking and securing profitable development opportunities.
His Company – Mosros Property helps individuals secure off-market development opportunities in the ACT and NSW. Their system enables the buyer to purchase property at a favorable price and with terms that ensure profitable development.
So, basically the option contracts provide flexibility and time for buyers to assess properties before committing to a final purchase. It is a win-win situation for both the vendor and the buyer because of the nature of such contracts.
Another key element before getting deep into these option contract is having a strong support system, a strong team and network that can assist with the challenges and negotiations that comes with these kind of contracts.
Negotiations in option contracts require confidence, sticking to your terms, and effective communication along with certain daily activities such as conducting feasibilities, sending letters, and networking with potential buyers and developers. Having a database of developers and buyers is crucial for success in the property development business. Negotiations for property acquisitions can take a significant amount of time and involve back-and-forth discussions along with thorough due diligence and research for maximizing profits and minimizing risks in property development.
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Episode Highlights:
- 00:00 Welcome to Helpmebuy Property Podcast
- 05:12 Transition from Laborious Job to Option Contract Expert
- 17:11 Benefits and Process of Option Contracts
- 28:32 Negotiations and Challenges
- 38:30 The Importance of a Database
