Offer open until... - Posted by Tom B (GA)

Real Estate Investing
1

Posted by InfoNet on July 08, 2001 at 14:18:51:

Include this line in your offer paperwork…

“Buyer reserves the right to present offer” – this means the RE agent has no choice but to have you present the offer in person yourself, with the agent also there of course.

Now, if you don’t want to bother going to the potential buyer yourself to present the offer, that’s fine too, but it’s just an idea if you’re worried the agent isn’t being “thourough” enough.

Also, it’s my understanding that agents are required to present ANY AND ALL OFFERS, with the exception of verbal offers. If they do not, they are in violation of law.

Of course, how do you prove that they “accidentally lost” your offer? That would be difficult, so again, consider presenting the offer in person yourself.

Just an idea… :slight_smile:

2

Offer open until… - Posted by Tom B (GA)

Posted by Tom B (GA) on July 08, 2001 at 09:24:37:

Are you submitting your offers without a deadline for acceptance, or are you giving a 2 or 3 days timeframe?

Seems that when I don’t put a timeframe for the “time limit of offer”, especially when offering 70% or lower of the ARV price, I get a response (mostly “too low to counter”). When I do put a 2-3 day timeframe, I have yet to get a response (not that I’ve made hundreds of offers).

Is setting a timeframe for acceptance on low offers an easy out for realtors to not even forward it on to the seller?

Thanks,

Tom