Conversing with the other agent

[NA Jones]

Little background:  I am a newly licensed agent.  I haven't had a transaction yet.  I have a couple buyers clients who aren't really motivated, and no listings yet.  Needless to say - I DONT KNOW THE ROPES!  Hahaha.

My husband and I are looking to pick up our first investment property with cash. We viewed a property listed on MLS yesterday that I'd be very interested in - but for the right price. I filled out the feedback form and the selling agent promptly emailed back "Make an offer" (which is just something he does I guess. we've viewed a few of his properties now and he always emails back within an hour the same thing)

What is the protocol here for opening up lines of communication?    Can I respond to his "Make an offer" email with "How much will the bank accept?"  

I just don't know how to be a real estate agent yet :(

[Wayne Brooks]

Is this a short sale, or an REO. In either case the agent won't know, unless it's a short sale with a deal that just fell apart, and they have a counter from the bank, which may or may not be valid by the time your contract is processed. With a private seller you can ask the "where do you think we need to be" question, for whatever that reinserted may be worth. If a short sale, more details may be needed. If there are additional mortgages/liens behind the first mtg that maybe the first won't contribute enough to make them sign off, the buyer would need toons up some extra money to satisfy them. This of course would affect your offer price, so you'd need to know this going in. But, typically just send the written offer and go from there.