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April Hamm
  • Investor
  • Dallas, TX
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Help with cash offer for off market purchase?

April Hamm
  • Investor
  • Dallas, TX
Posted Jan 17 2023, 10:24

I stumbled across a house that's about to be listed and I'm going to tour today.  I'd be paying cash for it if I like it, but would like the option period so I can get it all checked out first.  If I decide to move forward, what kind of paperwork is needed for this and where do we start?  I do have a realtor but she's not available to chat between now and my showing today.  Does anyone know how to proceed with this?

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Austen Mueller
  • Real Estate Agent
  • Pennsylvania
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Austen Mueller
  • Real Estate Agent
  • Pennsylvania
Replied Jan 17 2023, 10:31

If your looking to purchase it. Tell the seller you will be making a cash offer. Your agent can write it up with a 10 day inspection contingency.  

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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Jan 17 2023, 22:22

To get it under contract you will use a 1-4 TREC and include your option and earnest in there. You need a new realtor if they aren't educating you about this. 

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User Stats

18
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April Hamm
  • Investor
  • Dallas, TX
7
Votes |
18
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April Hamm
  • Investor
  • Dallas, TX
Replied Jan 21 2023, 18:21

Thank you both!  This was super spontaneous and I was going to look at it within 30 minutes of finding out about it, and my realtor was unavailable to talk before I could go see it.  My concern was because I thought it was going to be a direct purchase without realtors, which is what I did for my personal residence and I had no idea how to do it and make them "hold" it for me when I'm a complete stranger (last time it was from a friend).  The seller had actually just signed a listing agreement so they were prepared to pay realtor fees and that was already included in the price she told me, so I ended up not having to worry about navigating it on my own if they wouldn't pay for my realtor.  Thanks for the quick replies!  I'll keep this info in mind if I run into this again in the future.