Updated 4 days ago on . Most recent reply
Multiple Offers - Full offers or verbal
Hello, everyone. I have done a flip two years ago, and focused on my mechanical business since. I am now looking to get a flip or two started before the end of the year... I am focusing on daily/weekly goals to achieve this goal and I often hear people say "you have to make a lot of offers". But to be honest, when I work with realtors they usually don't even want to put in my first (lowest) offer... My question is, when you make multiple offers and start low, are you making official offers and getting paperwork in or are you just having your agent reach out to the seller/seller's agent verbally to see if there's a chance it could get done. Let me know, thank you in advance!!
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- Rental Property Investor
- Durham / Raleigh (Triangle), NC
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@Nick Sarangoulis - As an investor myself, I well know the need to "make a lot of offers". But as a Realtor who works almost exclusively with investors, I'm not trying to spend an hour of my time preparing an official written contract with all disclosures to make a half-price offer on a property that just hit the market yesterday. So even your "lowest" offer should have some semblance of reasonableness to the property condition, comps, DOM, etc... And I would normally reach out to the listing agent to let them know I have a client seeking to make an offer, and share some of the aspects, along with the "story" of why that amount is the amount - to help sell it. Some will then discuss the verbal offer, but many listing agents won't bite and will say "write it up" - knowing full well it will just be rejected. But what's good is when they counter.
- Jonathan Taylor Smith
