bringing an offer to an open house/showing

Member since 2022 · 40 posts · 18 votes

I've heard of people bringing an offer with them to an open house/house showing and handing their offer directly to the listing agent in person with a deposit check, showing they mean business and are ready to move forward.

Has anyone done this or have any suggestions on the best way to go about doing this?

I have a property I'm very interested in that I'm going to see this weekend and would like to put my best offer out there.

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Andres Martin

Real Estate Agent · Indianapolis, IN · Member since 2021 · 49 posts · 36 votes

Hi Jourdan,

It is certainly not unheard of, but in my opinion, unnecessary to show you mean business. All you need as proof of that is to write a well-thought offer and have proof of funds to back it up.

From what you say, I can't tell if you are a real estate agent, but if not, my next advice would be to work with an agent to represent you and advocate for you during the transaction. They can write the offer for you and ensure that your offer is taken seriously.

Now, I'm not saying you can't make an offer yourself. All I'm saying is that having representation with your best interest in mind is a good way to go about when buying real estate.

If you need to find an agent in your area, you can:

1) Use the bigger pockets tool to find an agent.

2) Ask around the forums, and they will offer their services.

3) Send me a DM, and I can recommend one.

Hope this helps!

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Andres Martin
Real Estate Agent · Indianapolis, IN · Member since 2021 · 49 posts · 36 votes
2y
Hi Jourdan,
It is certainly not unheard of, but in my opinion, unnecessary to show you mean business. All you need as proof of that is to write a well-thought offer and have proof of funds to back it up.
From what you say, I can't tell if you are a real estate agent, but if not, my next advice would be to work with an agent to represent you and advocate for you during the transaction. They can write the offer for you and ensure that your offer is taken seriously.
Now, I'm not saying you can't make an offer yourself. All I'm saying is that having representation with your best interest in mind is a good way to go about when buying real estate.
If you need to find an agent in your area, you can:
1) Use the bigger pockets tool to find an agent.
2) Ask around the forums, and they will offer their services.
3) Send me a DM, and I can recommend one.
Hope this helps!
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Jourdan Mercer
OP
Member since 2022 · 40 posts · 18 votes
2y
Quote from @Andres Martin:

Hi Jourdan,
It is certainly not unheard of, but in my opinion, unnecessary to show you mean business. All you need as proof of that is to write a well-thought offer and have proof of funds to back it up.
From what you say, I can't tell if you are a real estate agent, but if not, my next advice would be to work with an agent to represent you and advocate for you during the transaction. They can write the offer for you and ensure that your offer is taken seriously.
Now, I'm not saying you can't make an offer yourself. All I'm saying is that having representation with your best interest in mind is a good way to go about when buying real estate.
If you need to find an agent in your area, you can:
1) Use the bigger pockets tool to find an agent.
2) Ask around the forums, and they will offer their services.
3) Send me a DM, and I can recommend one.
No, I'm not an agent. Not yet anyway. I've taken the course and am studying for the exam.
I am working with a very good agent.
In all my networking a few investors that are doing very well used this strategy to stand out on their first partnership together and I was thinking of trying the same method. Just trying to figure out the best way to go about it.
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Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2y
If you’re really interested make your offer before the open house, before they get other offers/interest. If your offer will be anywhere near asking this has worked for me. In fact I’ve heard that open houses are often scheduled to get previous interest off the fence.
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Andres Martin
Real Estate Agent · Indianapolis, IN · Member since 2021 · 49 posts · 36 votes
2y
Please share with us the results of this strategy once you put it in motion. I hope said results are very positive and you can land that property you liked so much.
I wish you the best of luck on your exam!
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Jourdan Mercer
OP
Member since 2022 · 40 posts · 18 votes
2y
Quote from @Bill B.:

If you’re really interested make your offer before the open house, before they get other offers/interest. If your offer will be anywhere near asking this has worked for me. In fact I’ve heard that open houses are often scheduled to get previous interest off the fence.

The property is by appointment only this weekend. It's been on market for 2 days. I already have an appt. set to see it and my agent is meeting me there. We're printing out a few offers, that way depending if we find any surprises at the walk through we can present an offer that's fitting.
I've heard of people submitting an offer before an open house. Many properties I was planning to check-out and they got swiped away before I got to look.
I'm fairly new to investing. I might try that strategy on the next one tho
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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
2y
If someone handed me an offer and check, Id ask them to email it to me. A physical copy is asking me to do extra work that the buyer or their agent should be doing themselves.
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Jourdan Mercer
OP
Member since 2022 · 40 posts · 18 votes
2y
I would send the offer digitally that evening as well. But by handing them a copy in person they have an offer from the start with a deposit check to show I'm ready to move forward and very serious.
by having the deposit check they don't need to wait for me to drop a check off with them to then put in escrow. It's ready to go then and there.
I've seen so many properties get snatched up in front of my eyes, I'm trying to figure out if there's a better way to display my offer and interest.
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