Submitting Multiple Offers

3 Replies

I have seen recommendations that you submit multiple offers in a week while on the hunt. How do you submit multiple offers? Do you have your agent submit say 10... 20 offers on  properties you are interested in? I could see that meeting some resistance from your agent, yes, no? Are these many offer being submitted sight unseen?

@JayCinta Henry do you have EMD for all the offers. Can you close on all the offers or are you going to tie up the property and then release it. The other agents will get to know your reputation and even if you come up with a good offer they will steer the seller to take a different offer. Just my 2 cents.

That is not a good practice. Everyone will know you can't close on them all and agents will start encouraging the seller to accept on multiple deals to tie you in. What they mean is that you should be submitting a ton of offers, but procedurally you should have them in a hierarchy of which ones to go after first. And you are correct, if you aren't writing the offers yourself, no agent is going to write 10 offers a week for you on dirt properties when their commission will be 2-2.5% on a 100k buy. Later they might when you are doing a ton of deals, but not in the beginning.

If you have the funds to close on multiple deals, it makes sense to spray and pray, but not for new investors. Make an offer, let it get rejected. Make another and so on.