So, I have been negotiating with a property owner for about 3 weeks now ,and I have finally secured funds to finance my offer.
I don't have an agent to write the offer, nor do I think I need one, but I am a little apprehensive, in that I may miss some obtuse nuance or be too aggressive in my delivery.
I am using a generic template from google, however, I am tailoring it to be regionally specific.
I have a lawyer but, I want to do as much as I can alone.
Suggestions BP family?
Updated almost 3 years ago
I can't believe I am writing up my first offer, with no hand holding..
I know some real estate agents will draft up offers for flat fees. In my opinion it's worth the couple hundred dollars to make sure you're protected on your end.
My opinion after doing some deals on my own and printing up my own contracts off the internet. DON'T! Spend the money for a lawyer to do it. It's not that much in the scheme of things. Also many times your generic contract will not hold up in court. Even if 9 out of ten go smooth and you saved on lawyer fees that 1 bad deal could break you. Just my opinion and I know sometimes you have to take risks in this game but I think they should be calculated smart risks and this risk could be avoided.
If you are offering on a property in WI, use the standard purchase contract the realtors use. If you spend some time reading it, you most likely will understand it enough to be more confident in your offer. It can be found online by a Google search of WB - 11.
Thank you guys, great advise.
Since I am submitting a lower offer and the seller has a broker working with him, then the broker will be more apt to accepting a low ball offer, if he doesn't have to split the commission with another agent, just thinking about it logically.
Moreover, I have brought the deal straight to the seller, we have spoken on several occasions, I'm sure he listed with the broker because he didn't take me seriously. However, now that I will be submitting an offer correctly, we can make a deal.
Awesome. Thank you for the confirmation. Immediately following my post, I found that form and filled it out, my attorney is looking it over now.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing