Rental Property Investor · Gilbert, AZ · Member since 2020 · 210 posts · 163 votes
I've submitted several full price offers in the past month on MFH properties via MLS that I haven't been successful on. I'm curious how often you (or your agent) follow up on offers with the listing agent prior to closing in case the accepted offer falls through? I know it happens, but does anyone do this as a standard practice, or do you just move on and focus on the next lead?
Real Estate Agent · Tampa, FL · Member since 2020 · 411 posts · 373 votes
5y
It's never over until it's over. Pending is just that, and sometimes the other buyer agents have moved on so there's always the possibility of getting lucky. On the primary residence side of the business it's an emotional roller coaster so I try not to get hopes up, highlight how unlikely it is the opportunity springs back up, and on the investment side where it's more sanguine and numbers-based, I say hey, you never know, I'll give it a daily check just in case.
To clarify though, that it's not a daily call to the listing agent, rather a daily check of status in the MLS. We get a code if the accepted offer didn't make it to closing.
Rental Property Investor · Gilbert, AZ · Member since 2020 · 210 posts · 163 votes
5y
@Ronald Allen Barney thanks for the input, these are for investment properties and I always follow them on Zillow until they close (to see the close price), but I was curious if it was worth a checkin with the listing agent after the contingency periods expire to make sure they were on track for closing. My thought is that it can’t hurt, especially since I’m only making a few offers per month