Who handles your LOI Negotiations ??

Question

I’m new to real estate investing. Still searching for my first deal.

How do you guys approach negotiating and communicating between buy side and sell side?

if I feel (rightly or wrongly) that I can negotiate better....What’s everybody’s thoughts on me and negotiating directly with the seller or sellers agent?

(Once we agree on high-level LOI terms, my agent will draft up the documents obviously. )

Jared M. · Answer

@John Warren

Thank you for the advice. Truly appreciate it!

John Warren · Answer

@Jared M. yes if you are agent is a newer agent then you should probably be in charge of negotiations. You should also have a very, very competent attorney that is more experienced. Unfortunately, you normally meet this type of attorney through your agent relationship...

Jared M. · Answer

@John Warren

A little of all those reasons.

Helping out a new agent (family). I’m more experienced in business. Etc

Thoughts?

John Warren · Answer

@Jared M. what are the reasons you feel you are a better negotiator than your agent? Are you more experienced in a different field where you constantly do contract negotiations? Is your agent not competent? I would wonder why you wouldn't want your agent to assist with the negotiation. At the end of the day, that is the main job of an agent...