Self-preservation when submitting an offer without seeing a property?

Question

I am putting in an offer on a property I know to be a great deal. However, we all know a great deal on paper may not be a great deal in reality. I won't be able to actually go and see the property for at least a week, and the great deals in life never last that long. Besides a home inspection clause, what other "safety nets" can I use to protect myself to be able walk away?

Leigh C · Answer

All you need is that clause to allow yourself the ability to waste the seller's time if you don't like the actual property.     No need to search for another reason for the same result.

Account Closed · Answer

If this is "one of the great deals in life", I'd arrange to see it.

Leigh C · Answer

Eh, short sales are another subject I'd rather not rant about.   I completely believe most agents are wasting everyone's time when they list them without an approved price.

So yeah, your offer helps them get to the approved price part, so do whatever if my vote counts for anything.

Leigh C · Answer

Listen...i don't care what you do, but i have a hard time accepting someone else feeding me some fantasy.

The entire purpose of putting in an offer is to limit others from doing it before you can look at it.      I agree with you, i'd love to put a full price offer in on EVERY property that hits the market, in 5 or 6 days I'll be happy to let you know if i really want it.      While we are at it, give me first right of refusal on everything too.

If everyone did as you want to do the process of selling a house would take forever.   Each buyer using up 5-6 days?    Lets round it off to a week so that we give the lazy agents time to put it back up on the market.     If you really don't believe everyone doesn't see this as you wasting the seller's time, disclose your intentions and let the seller decide if they want to take your "offer".

Jon Huber · Answer

@Leigh C   It's a short sale... so, I wouldn't be "wasting the sellers time". I was able to put the home inspection clause in the contract, but I was just looking for another "out" in case they wanted the contract without that clause.

Larry Turowski · Answer

@Jon Huber I agree with @Leigh C except on the wasting seller's time part.  I don't want to waste my time looking at a property unless I know there is likely a deal and I have explained this to realtors.  I generally have a very good idea of the property and the inspection just confirms there are no gotchas.

Self-preservation when submitting an offer without seeing a property?

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