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Updated over 2 years ago on . Most recent reply

How much info do you require to make an offer?
Hello BP!
Iv been working with a great agent. He's been very patient with me. I think im doing the normal newbie thing and asking way to many questions for each property, offering lower than list, getting told no and wasting everyones and my time. He mentioned this to me himself.
I dont want to be difficult to work with and want this to be a good long term relationship. What is some key info you would ask your agent prior to making an offer?
Im looking to BRRR from a distance. Plan on flying down regularly. I dont want to over pay for the property. Some info I feel I need is:
-Sales comps/ opinion of ARV
-rough rehab estimates (before getting a contractor to quote)
Prior I was asking:
-why is the seller selling ?
-Neighbourhood grade ( agent gave me a map to find this for myself)
-rent comps ( agent just uses rentometer, made an account myself)
-cosmetic or structural repairs ?
-any neighbourhood specific info ? (Vacancy, crime, appreciation, school zone )
I found this info on redfin, although I dont know how accurate it is
Most Popular Reply

Again, how would anyone besides YOU know the scope of work?!? You have to develop that yourself. The listing agent will not try to provide that.
You should be able to narrow your focus and be making SERIOUS offers on maybe every 3 or 5 houses. If your agent can do a few showings in a row that isn't much time for them to invest.
If you look at 50 interesting listings and narrow that down to 15 by doing some research and estimates based on info you can find from old listings, google street views, etc etc etc etc. Then your agent spends maybe 10 hours doing those 15 walk thrus with you. You make some casual oral offers but really focus in on 3 properties that you make serious offers and negotiate on then your agent might have 15-25 hours invested to get a house under contract for you which is very reasonable.