All Forum Posts by: Kelly Payne

Okay. That's what I was thinking I should do.

I've had way too many issues with "agreeing" to something without having it in writing, only to have someone "misunderstand" or "forget" or claim we never said that.

Thanks, James!

Thanks, James! That's what I was wondering.

Do I need to add the negotiating requirement into the contract, or make it verbal? I'm worried about it being verbal, since it'd have to pass from me, to my agent, to the listing agent and then to the seller!

Thanks, James, Ted.

But doesn't the homeowner have to accept my offer first? Or once it goes short sale, do all offers go straight to the lender?

I can see why you must have your own negotiator - that makes a lot of sense.

How can I tell what has already happened in the process? All my agent knows is that it's "started" - what about a BPO? I don't know want to miss that...

So do I submit my offer like a regular contract to the listing agent, and THEN get my short sale package ready to send to the lender? I'm still confused about the steps to take.

If I'm making an offer on an MLS property, and my buyer's agent found out that it's short sale pending, what's the best way to present my offer?

I want to offer $82,000. It has an ARV of $100-105k and it's already been completely remodeled. It's been sitting on the market for a while, and the price has just been reduced to 115k, but they're trying to do a short sale.

So when I submit my offer, how can I communicate to the seller that he can accept my offer and allow me (well, our short sale investor friend) to do the negotiations and paperwork on his behalf? I thought about including a typed explanation and attaching it to the contract.

Thanks, Tom and Steve.

I read the threads and it's good info. I'll need to think about what to do, considering it's been hard for me to find an agent who'll present my offers.

I might sign a 30-day agreement with her (which is what she suggested in the first place) to see how it works out.

So far, my experience has confirmed the theory that you only get mediocre listings from agents you don't have an agreement with. So this might help in the long run...

Thanks again!

She'd emailed me back as soon as I finished posting above.

She said that I need to put a time limit on our agreement and that I may not work with anyone else during that time limit.

She also said that generally people work with one realtor, since there could be a problem if two realtors sent me the same property. She said if we were going to work with more than one realtor she'd rather opt out of working with us.

Does she have a point?

Thanks, Mark!

That's what I was hoping to do. I asked her if we could do something like that, and I'm waiting to hear back from her.

What would new investors do without bp?!

Hi Carla! Thanks for commenting.

The other realtor I'm using to submit offers emailed me the docs, and I have to fax them back. (She said she would save my contract for future use.) That sounds different from an e-signature template that you described. Am I right?

Also, what kind of buyer's agreement should I use? I don't want to sign exclusively with her (since other realtors are sending me properties as well). I really wanted to sign a transaction-specific type of agreement. Anyone know what that's called?

Thanks so much for your help!

Haha! Chris, I guess you don't think verbals are taken seriously either, huh? Well, it's good to know my hesitations weren't off.

I have another two properties I wanted to submit offers on with a different realtor and this time I said "I do NOT want to put in a verbal offer - can you do electronic contracts?" And she said she could!

She emailed me the docs, I'll print, sign and fax them back tomorrow.

Thanks for the input! I'll also have more courage to tell the agents what I want. I was shocked that when I told her what I wanted, wala! There it was.

So is it a waste of time for me to send letters of intent for now?

Is this a good way to go? Or are written contracts the only way to get a seller's attention?