"Shy" seller (no response to offer)
Hi there.
New, aspiring investor here. Just getting started. I'm working with some family money, trying to find a place in Los Angeles, but I work in China (grew up in LA, family still all there).
As an investment, we are trying for our second property.
Cut to the chase, we've put in offers on 2 properties so far and nothing back, but the properties are both still showing on the MLS as active listings (Been about 2 weeks since the offers). One is a probate sale so does that explain their lack of enthusiasm? The other is just a big sprawling multi-family with a fair bit of clearly unlicensed work on it and that one just never gets back with a yes or a no. We had one counter-offer stipulating a shorter inspection period, which we agreed to, and then nothing.
Any tips as to how to figure out what's going on? Like the place with the unlicensed work, maybe hiding something? Feels like they need to sell only to someone they really trust? Or the probate piece...do banks just move super slow? All I head from the realtor is that the seller "rarely takes offers" (still waiting for clarification).
FWIW, we got our eyes on another 3 places that might be worth making an offer but I'm just sort of mystified by how these two have gone. Seller is super slow to respond...some stuff about probate that I don't understand I think.
Apologies for rambling a bit. Not even sure yet which bits of information are the most relevant.
Omar