I made the offer, now what?

3 Replies

When it comes to my dreams, I'm very impressionable. BP told me, just get out there and do it! SO, I did. 

I've made offers on a couple properties off of Craigslist and I'm even more excited I've gotten a response. I've made appointments to go see the properties: of which some asked for POF and others didn't.

The thing I don't fully understand is when do I draw contract? Is this a gut-check type of decision?

First, what do you mean you've "made offers" of properties?  Making an offer typically involves submitting a written agreement that outlines your offer.  But, based on the rest of your post, it sounds like you haven't yet submitted any written offers.

In terms of WHEN you submit a written offer, it should be after you've evaluated the deal and determined what an appropriate offer should be.  Once you know what you can afford to offer, you write it up, and present it to the seller.

If you give us more info about what you're doing, perhaps we can be more helpful...

@J Scott Your first paragraph is right. I still haven't made a written offer. I've taken properties I found for sale by owner on CL and reached out to see the house(s). I'd like to wholesale the ones that are worth it after I go see them. 

I'm confused about getting them under contract to then present them to buyers. 

Since I am also a newbie, I will let everyone know what I did on my first offer and then someone can tell me what I did wrong.

I made an offer by filling out a contract that included the offer and all the necessary signatures as the buyer.  I e-mailed the signed contract to the seller and indicated that my offer was good until 6:00 p.m. the following day.

The seller responded the following day indicating that he rejected my offer and had accepted an offer from another buyer.

When I sent the offer via e-mail I did call the seller but he did not answer.  I left a voice mail indicating that I had sent in an offer.  He did not call me back and I did not either--not the next day prior to the time that my offer was to expire nor after he replied via e-mail that he had rejected my offer.  I am interested in how you more experienced individuals normally handle these situations.  My gut tells me that I should have touched base with the seller.  I want to make sure that I handle my next offer better.

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