Check out ACORN’s option properties, including a neat house on Q Street.
COST:$34,500 BUILT: 1910 STREET: 2605 Q Street (2006)
An ACORN option property is when ACORN purchases selling options on a vacant or abandoned buildings. An “Option To Sell” gives ACORN an exclusive right to find a purchaser for the property during a specific time frame at an established price. This means that ACORN would use the agreed upon period of time to find a purchaser committed to renovating the property. ACORN does not profit from the sale of an option, by keeping prices as low as possible they hope to move more properties back to productive use.
TAGGED: real estate