Agreement of Sale???

2 Replies

Hello BPers,

I recently listened to Podcast 276, with Bryce, Vacum the Truck, Stewart. Great episode.

Bryce talked about using an Agreement of Sale strategy, in order to hold properties from being sold or even looked at by other buyers, while he does his due diligence.

I've just been pre approved for my loan, and am  beginning to look for a property. When I mentioned this Agreement of Sale strategy to my realtor, he replied, "How are you going to do that? A seller is not going to hold a property from other buyers." He said this sounds more like the contract process, when you have a few weeks to do your due diligence.

From the podcast, it sounds like Bryce is going up to several properties at once, and asking for this Agreement of Sale, in order to keep them from being offered to other buyers. Then, when he is satisfied or not satisfied, he passes or buys, without any cost to him.

I feel like I'm not understanding something?

Thanks in advance for your time and answers to this question.