Steps to make an Offer

[Blake Reynolds]

I just finished sending out my first wave of direct mail postcards and my plan is to start out wholesaling properties to gain more experience to be able to venture into different areas of real estate. Since I have started receiving calls more and more questions come up as I go (which is of course a good thing to ask and learn what I do not know).

A couple questions I have now after talking to some of the leads pertain to actually making an offer on the property.

First: When trying to estimate the costs is it anywhere near possible to estimate without actually going into the property? I have a few leads who have tenants in the property and they do not want me going in to look over things and get a scope of the condition of the house. They do not want the tenants to know that they are selling the house.

Second: When constructing an offer what is the general process for that? Do you make them a verbal offer and then if they accept do you send them (email/mail/Esign) the purchase agreement? Or should you send the purchase agreement as your offer without disclosing verbally? Is there a way to put together an offer package with the reasons why you are making the offer in that amount?

Again thank you in advance for the help. BP and all of its members are such great resources to have when starting out!