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That's not lowball. I'm sure the OP is speaking of prices considerably lower than asking.
That's what I'm talking about, too.
What's the harm? The seller might reject or, if they are motivated, they might take it, or counter.
I've had ridiculously low offers on property several times but it certainly didn't make me mad. If I didn't feel like responding I didn't. One time, however, I was glad to get some discussion going and we eventually wound up striking a deal.
What's the harm? The seller might reject or, if they are motivated, they might take it, or counter.
I've had ridiculously low offers on property several times but it certainly didn't make me mad. If I didn't feel like responding I didn't. One time, however, I was glad to get some discussion going and we eventually wound up striking a deal.
Seller might not be offended at all.
I think the issue here is being courteous to the Realtor not wasting their time playing messenger with offers that aren't going to get bites.
I think the issue is qhoc finding a Realtor who gets him and wants to do this kind of business.
There are LOTS of realtors out there who work for investor clients and help them find and purchase investment properties.
They will be familiar with strategies like this, they will be used to writing a lot of offers. They might have some advice for qhoc to help, but they won't be expecting him to act like a typical home buyer.
Compatibility and communication are the key.
It sure beats "make the f___'n offer or you're fired"... At least in long lasting business relationships!
It sure beats "make the f___'n offer or you're fired"... At least in long lasting business relationships!
Yo, I didn't say that. adjusterjack said that.
Anyhow the property I was trying to make him to put in the offer is still on market. I told him to wait until Friday and send in my offer anyways. He didn't say "Yes" or "OK" but just text'ed back with a "thumb up" emoticon. I guess it's a millennial version of "Sure, whatever, I'll do it"... LOL
Just pulling the legal description can take 5 or 10 minutes.
I didn’t give a number of minutes. I just said it’s not a quick thing and a lot goes into it. There are dates to calculate, financing details to add, conveyances to double check, and in my state we have like 100 different things we can attach to amend the offer in some way. We also have various disclosures to provide and have the buyer sign off one (lead paint is one, seller’s disclosures are another, flood zone, etc.), some of it is a CYA and others are mandated by law or required due to the nature of the property or contract itself. And like Diana mentioned, it takes time to do it RIGHT. It’s not something to do absentmindedly, it’s a legally binding document. Mistakes can be disastrous for everyone involved. And most of it will different based on the property itself, so to the OP’s question, it can take time to do all the research necessary to make offers on different properties.
I’m simply telling you how long it took him to get a written offer to me to sign (e-sign) from the point I called to the time I opened my email was maybe 15 minutes. He may have a quick fill ready to go and all was needed was to change a few things. We can argue all day long. It did not take him long to get the offer written. In fact none of the agents I used took a long time to get a written offer ready for me.
Quote:
Originally Posted by qhoc
They were wrong because I lost 2 houses based on 2% differences. But they were years ago so situation might be different then.
Anyways, I am the seller before and I saw low-ball offers all the times. I was happy because at least someone has money and has interest. It wasn't a fit, that's all. Now as a buyer, I am seeing the same behavior with this new agent that I just started to work with. Frankly, it's getting from annoying to p!ssing me off because my offer is always all cash (how about that!).
I simply wouldn’t waste my time. If the comps are xyz and you’re offering xy I would simply ignore your offer. If my agent even brings it to me as I stated previously I would simply cut out low ballers from the start.
As far as a cash offer it’s all cash to me in the end.
Quote:
Originally Posted by adjusterjack
Here's what you say to your buyer agent:
"Make the f--k--g offer or you're fired."
The Pr--k works for you. He does what you tell him or he hits the bricks.
I've written offers on my own three times in the past several months. The first time I was outbid. Fine, was an OK house but not worth going higher. The second time I cancelled and got my money back due to unfavorable deed restrictions. The third time (last month) got me the house.
For the life of me, I can't understand why people let these uppity realtors lead them around by the nose. Jeez, they are the equivalent of used car salesmen.
Sure you can do that. I doubt you’ll get many agents to work for you. They can fire you as a client also.
Just don't expect your agent to submit a document that they didn't draft, and that doesn't use their template. Dismiss the language as boilerplate or what have you, but I imagine the process is for an agent to collect the information and submit it formatted according to not just industry standard, but according to their employer's format.
You're either full DIY, or you operate under the rules of your representation.
Full DIY was my suggestion. Albeit, not clarified as well as it should have.
OP has no willingness to listen to professional advice, why pay for it?
What happened to the day when agent "B" called agent "S" and said "I have a client who is willing to offer $368,500; can you run it past your client and if we're in the ballpark, we'll write it up?" Is everybody too busy standing on formalities or playing CYA to actually get the job done?
What happened to the day when agent "B" called agent "S" and said "I have a client who is willing to offer $368,500; can you run it past your client and if we're in the ballpark, we'll write it up?" Is everybody too busy standing on formalities or playing CYA to actually get the job done?
Terms are often as important to buyers and sellers as price.
"$368,500?"
"Yup."
What kind of financing?
Preapproval from what lender?
Do they have a preapproval letter or a prequal?
How much down payment?
When do they want to close?
How long do they want for inspections?
Do they have a property to sell before they can buy?
Are they asking for personal property?
Do they want early possession?
There are many other material questions that are addressed in a written offer, that are not clarified by a mere "$368,500," or by hopeful assumptions by both parties.
Written offers are not just some goofy "CYA."
They are what professionals do, as they become the governing document and foundation for the transaction.
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At least in long lasting business relationships!
