Seller Wants an Offer Before Seeing Property

Detroit, Michigan
Buying & Selling Real Estate
2yFollow

Seller Wants an Offer Before Seeing Property

Elton TatePro Member
Investor · NC · Member since 2023 · 35 posts · 7 votes

My wife and I are currently looking into investing in Detroit and have secured the pre-approval letter. Upon looking for a home to invest in, we noticed the seller only allows us to see the property if an offer is made. Is this normal? Also, when asked about current lease agreements and rent rolls, no one responded. Is this weird? All properties are tenant-occupied and pay rent at or above the market rate. This practice is very odd to me. It even happens for homes with no tenants.

0Reply
218 views

Most Popular Reply

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
2y
Quote from @Elton Tate:

My wife and I are currently looking into investing in Detroit and have secured the pre-approval letter. Upon looking for a home to invest in, we noticed the seller only allows us to see the property if an offer is made. Is this normal? Also, when asked about current lease agreements and rent rolls, no one responded. Is this weird? All properties are tenant-occupied and pay rent at or above the market rate. This practice is very odd to me. It even happens for homes with no tenants.

nope totally normal for renter occupied homes.  its a big pain in the butt to coordinate showings with tenants and you dont want to burn out or piss your tenants off by inconveniencing them with potential buyers who maybe just kicking tires.. NOT in any way saying you are.. but you get the point I am sure.. your tenants are your life blood so keeping them happy is more important than letting buyers who are not even in contract into the houses just to look around not like it and not buy it.

If the home is vacant I suspect they are Leary of squatters and thieves and or they have been burned by wholesalers and their lies about having their partner look at the house.. which is really not their partner but is potential buyers.. very slimy how they do that.

Podcast Guest on Show #222
JLH Capital Partners51 Review
WebsiteView Page
4Reply
See this reply in the discussion

26 Replies

Jump to latestLatest
  • Rick Albert
    Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    2y
    Quote from @Marcus Auerbach:

    Not the smartest move by the seller, but it cuts down on buyer competition, which is in your favor. 

    include something like this: Offer is contingent on buyer walk through of the entire property within 3 days of acceptance to buyers satisfaction, otherwise buyer may declare this offer is null and void via written notice within 5 days after AO. Earnest money within 5 days after AO. Use similar language for document review incl leases and rent roll.


     Why put that contingency in place? It makes you look difficult and we already know that this seller is problematic. You have an inspection contingency. Just schedule two days. The first one is the walk through, the second is the actual inspections. You can push out the deposit if you want. This way your offer looks cleaner and you accomplish the same thing. 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free