I have been searching for my first investment property to fix-and-flip in Georgia but feel completely stuck when it comes to understanding how to give a formal offer once I'm ready. The forms used in Georgia are copyrighted and only to be used by licensed agents. How would I get around that as an investor?
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
I'm not sure yet if I'll be purchasing on or off-market. I'm looking at both right now.
I understand I could ask the seller's agent for dual representation but I think that defeats the purpose of not using an agent.
Why are you so against using an agent? If you have never done a deal before then possibly spending a few thousand dollars to have professional guidance would be smart. You can always ask the seller to cover the cost of your agent. For all of my flips since the rules changed last year we have still been offering the buyer's agent commission so the buyer is not paying their agent.
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
I'm not sure yet if I'll be purchasing on or off-market. I'm looking at both right now.
I understand I could ask the seller's agent for dual representation but I think that defeats the purpose of not using an agent.
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
I'm not sure yet if I'll be purchasing on or off-market. I'm looking at both right now.
I understand I could ask the seller's agent for dual representation but I think that defeats the purpose of not using an agent.
Why are you so against using an agent? If you have never done a deal before then possibly spending a few thousand dollars to have professional guidance would be smart. You can always ask the seller to cover the cost of your agent. For all of my flips since the rules changed last year we have still been offering the buyer's agent commission so the buyer is not paying their agent.
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
I'm not sure yet if I'll be purchasing on or off-market. I'm looking at both right now.
I understand I could ask the seller's agent for dual representation but I think that defeats the purpose of not using an agent.
Why are you so against using an agent? If you have never done a deal before then possibly spending a few thousand dollars to have professional guidance would be smart. You can always ask the seller to cover the cost of your agent. For all of my flips since the rules changed last year we have still been offering the buyer's agent commission so the buyer is not paying their agent.
I recently sold my first piece of real estate without an agent and had very successful results, which is why I'm looking at purchasing without an agent as well. I feel like a deal would be much easier to obtain if the seller knows they don't have to pay commission to the buyer's agent. It's more money in their pocket which could result in more money in mine as well. Thoughts?
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
I'm not sure yet if I'll be purchasing on or off-market. I'm looking at both right now.
I understand I could ask the seller's agent for dual representation but I think that defeats the purpose of not using an agent.
Why are you so against using an agent? If you have never done a deal before then possibly spending a few thousand dollars to have professional guidance would be smart. You can always ask the seller to cover the cost of your agent. For all of my flips since the rules changed last year we have still been offering the buyer's agent commission so the buyer is not paying their agent.
I recently sold my first piece of real estate without an agent and had very successful results, which is why I'm looking at purchasing without an agent as well. I feel like a deal would be much easier to obtain if the seller knows they don't have to pay commission to the buyer's agent. It's more money in their pocket which could result in more money in mine as well. Thoughts?
Yes, if you are going off market you are correct.
If it is on the market anyway it wouldn't hurt to approach the listing agent and tell them they can keep the buyer's agent commission or give it back to the seller to make the deal more attractive to the seller.
Are you offering on market or off market? If off market, talk to a title company or a lawyer depending on whether your state is a lawyer state - they may have templates you can use.
If you are offering on-market talk to the listing agent if you really don't want your own agent and ask them if they will charge you a buy side commission if they represent you in the transaction.
I'm not sure yet if I'll be purchasing on or off-market. I'm looking at both right now.
I understand I could ask the seller's agent for dual representation but I think that defeats the purpose of not using an agent.
Why are you so against using an agent? If you have never done a deal before then possibly spending a few thousand dollars to have professional guidance would be smart. You can always ask the seller to cover the cost of your agent. For all of my flips since the rules changed last year we have still been offering the buyer's agent commission so the buyer is not paying their agent.
I recently sold my first piece of real estate without an agent and had very successful results, which is why I'm looking at purchasing without an agent as well. I feel like a deal would be much easier to obtain if the seller knows they don't have to pay commission to the buyer's agent. It's more money in their pocket which could result in more money in mine as well. Thoughts?
Yes, if you are going off market you are correct.
If it is on the market anyway it wouldn't hurt to approach the listing agent and tell them they can keep the buyer's agent commission or give it back to the seller to make the deal more attractive to the seller.
That makes sense. Thank you for your input.
You can go direct with the agent listing the house if you feel confident in the deal and your ability without being represented; that is if it is actually on market with an agent listing it.
The other option would be to start buying off market, and typically you just need a price and terms sheet for the escrow/title officer to open escrow and close. So it's case per case.
Go to your local real estate meetup/events and find an investor friendly agent. You find the properties and do your underwriting on each property, name your price/offer for the property and tell your agent to send it out. Your agent should have no problem sending out lots of offers.
Hi Kyle - I'm an investor friendly agent who could help take the stress of an offer and papework off your hands. If you're in the atlanta area I'd like to chat!
I have been searching for my first investment property to fix-and-flip in Georgia but feel completely stuck when it comes to understanding how to give a formal offer once I'm ready. The forms used in Georgia are copyrighted and only to be used by licensed agents. How would I get around that as an investor?
Kyle - not sure if you're still having this issue. If so, reach out to a title company and ask if you can buy a copy of their purchase and sale agreement off of them.
I'm sure you can find a discount broker that will write offers for you on GAR forms that is purely transactional.
Buyer's rep fees are pretty low for investment property acquisition in Atlanta ($4-$6k assuming your staying under $200k). Good buyer's rep should be able to save you or make you more than their fee at that price point.
Het Kyle,
Totally get where you’re coming from — I was in that same spot when I first started. In Georgia, you're right — the GAR forms are copyrighted and legally can only be used by licensed agents or attorneys. Since I'm licensed now, I use them regularly, but before that, I had to partner with an investor-friendly Realtor who could draft offers on my behalf.
If you’re not licensed, your best bet is to either build a relationship with a Realtor who understands investment deals or work with a closing attorney who can help draft contracts. Some investors also use their own custom contracts, but most sellers — especially agents — prefer GAR forms, so it helps to go the more official route when possible.
Happy to chat more if you need a connection or want help walking through the process!
OP always use a Buyer agent.
The seller pays the commission for them.
Even if this is an off market deal still use a buyers agent and you pay part of the commission.
For your type of REI pick the best realtor in your market as your buyer agent and stick with them. Always have them be the original point of contact, not you.
Never penny pench them.
They are now part of your team.
You will get more deals out of the blue from them and they will also know your business model and the rest of your team.
Our realtors have brought or helped initiate over a $1mm of value add to our deals without us asking.
Later the realtor form to your needs