Normally I would want to see the seller's disclosure before you enter into a contract for a normal purchase. Remember foreclosures and some other homes won't have any disclosures in most circumstances.
As to answer question number 2, I don't think anyone is going to get rich collecting option fees. Never seen this happen. To me the option fee is the best part of the whole contract in Texas. For $100 you can tie up a very expensive house with no obligation to buy and the right to walk away for any reason or even NO reason and the seller has no recourse. To me it should be $100 or more a day to tie up a property like that, but $100 to $200 is fairly normal.
It would be wise to ask for a HOA resell certificate next time when you purchase a condo or town home with a HOA.
JP and Associate Realtors
It is based on how sales offer is structured.
Contact my office today where I can show you many amazing homes work with your family specifications.
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
Follow me on Facebook
Second Question = Sellers can't make money off of Options Fees if the Purchase Offers are composed correctly. Contact me if you want a secured offer.
Office: (214) 866-0050
Mobile: (214) 457-1639
As to making money, it actually costs a seller to remove their home from the market during an option period. Say a buyer pays $100...which by the way is a very low option fee, for a 7 day option period. The seller is paying 7 days worth of mortgage payments, taxes, insurance, utilties etc while they give the buyer a right to make a decision. If anything, buyers more often abuse this priviledge by putting more than one property under option contract at the same time and then terminating one of them.
Best of luck
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134