Advice Neeeded: Making First Offer

5 Replies

Looking to make an offer on my first investment property. The property is listed as a “coming soon” property in MLS so it has not hit the market. Needs quite a bit of cosmetic work and possibly some other rehab. Not sure until I get in there. Want to buy, rehab, and rent. Have already done the analysis but I would like to bypass the agent set to list it and make a low ball offer directly to the seller. Any advice on how to do this or if this is something I should avoid? Part of my offer to the seller is that I can save them the 6% listing fee they would pay that agent as I’m an agent myself.

Hi @Justin Youngblood .  You could do that.  Are you thinking of a chat to get more information? 

Sellers use agents because there are many legal obligations that have to be completed. If it is on the MLS, Seller might already have an agent. This agent may have outlined the work to ready the property for market and the work may be underway, by the guidance of the agent. The agreement between the Seller and Agent may include getting paid the commission upon the sale of the property, regardless of what your offer states.

@Justin Youngblood Once it's on the MLS even if it's coming soon, you cannot skip the agent commission. May be save him 3% because you don't have an agent but listing agent commission is covered by agent listing agreement whether he brings the client or someone does.