Show OPTIONS ON REAL ESTATE one of he worst avils of real estate booming and one that should bo effectually sat down upon by our citizen i the practice of giving op bious this boods to monopoly of tho salable land of a city and gives opportunity port unity for fraud being perpetrated on the unwary by the scheming and in many instances unprincipled real estate dealers lo 10 illustrate it is a common practice with real estate agents to receive a dieco of ground for thirty or sixty days by depositing the option is really a sale of the land for the owner accepts the and holds a mortgage against his own property for the period of time stated in the contract whatever it may be this gives him no farther control of the land and oven though ho bo offered a thousand dollars moro tho next moment or aa is more frequently tho caso tho price of ground may greatly increase in value before the expiration of his contract with the real estate speculator 1 yet ho can derive no benefit from this whatever the property is wholly tied up so far as the actual owner is concerned this being a fact which no one will deny it can 10 well seen how all the real estate on thy market in a small city can bo captured and by two or three boomers by way of making it plain wo will assume that Spring villo has worth of real estate on the market and will reason from the basis that a will secure an option on piece of land for tho period of sixty days chis being accepted by way of argument it will only take expended in tho mode above mentioned to gain a complete monopoly of tho whole city so far as the real estate market is concerned in this way boomers can buy a city with but a very little capital to begin with and run prices up to suit their own speculative turn of mind two months time in many western towns may very frequently totally change the existing scale of prices on land and a town may within that time bo destined to become a city of note should the actual owners of the property 0 tho city wish to favor citizens whom they might desire to locate in the community they are de barred from doing so by tho curse of options secured by boomers tho practice is nothing more or less than a system of gambling in which tho real estate agent risks a small sum on an option relying on his chances of deceiving persuading the stranger or 10 other unknowing to buying at the price that ht may put upon another mans property it is an injustice and an outrage on the public this option business and besides the evils on the very face of the practice real estate agents do not otten forfeit the money deposited but on tho other hand they pay u lawyer to enquire into the litlo and seo if thoro may not possibly be a loop ho lo 10 through chich they may creep tho owner in many cases rather than incurring the expense of a law suit gives up the forfeit and comes out of the real estate agents clutches simply a wiser man |