I made my very first offer today. I was stuttering and stammering through the process but it was not bad. The seller told me that he wanted to discuss and go over it with his family and is going to let me know the decision. Is that good or a bad thing? I hope and pray he accepts.
When you make an offer let the seller know that you have cash with no weasel clause, and you can open escrow now.
neither good or bad! He may actually just be simply talking it over with his family!
I think it good, he did not say no! It's negotiating! Way to go !
Awesome job!!! Get into the habit to get to the deal!!!
@Brandon Hamlin you did great; I would be concerned if he didn't think about it.
Now you have to close the deal! Don't wait for him to call you back, 24-48 is the norm for returned call. Be prepared for a counter offer or the seller wavering on the deal. Have your story and paperwork ready to go; if the seller counts tell them it's the highest you can go without talking to your partner or have a number ready to go. At a minimum get a letter of intent signed to lock up the deal for 48-72 hours that way you can sharpen your pencil, but you will not lose the deal to someone else. Usually the 2nd contact with the seller is where you either get the deal or you don't; if it goes longer you have a high chance of getting played against someone else.
Keep your head up and be proud that you are and doing your first offer. Some don't even get this far or don't even try, so congratulations!
Good luck and best hope you have an excellent future!
Congrats on taking action and beginning your buying process. Don't want the property to bad though. Have your maximum offer in your head already if he counters and don't waiver from it.
A lot of troubling things that happen in real estate stem from buying to high. I have done it before so I know, trust me.
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