OfflineWell I have been at this for a little over a year and still have yet to complete my first deal. I know it will happen though it is only a matter of time.
Does any one have a form they use to submit offers via Email. My thought is the more offers I make the more oppertunity I have to get them accepted. If anyone out there has a format that has worked for them and would like to share I would love to see what is working. I would be using the Email format to submit as many offers as possible, and once accepted would follow up with a legal document. My over all goal is to lock up and assign as many deals as I can.
Any help or advice is much appreciated.
Bill.
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Bill, you could use letters of intent. These are not legal binding documents but only state the intentions that you have along with standard contingencies. At the bottom of the page you will have instructions for the homeowner to contact you if they are interested in your proposal. At this point if someone is interested, you could enter into a valid contract. This could generate alot of activity for you in your area. I am happy to see that you are still trying! Persistance does pay huge dividends! I hope that this information helps!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Anyone have any advice on how I would make offers on these properties? USDA PROPERTIES.
Do I need special paperwork, meaning a different from the standard
assignment paperwork. I read You needed to submit offers on certain
paperwork.
Thank-You
Does any one have a form they use to submit offers via Email. My thought is the more offers I make the more oppertunity I have to get them accepted. If anyone out there has a format that has worked for them and would like to share I would love to see what is working. I would be using the Email format to submit as many offers as possible, and once accepted would follow up with a legal document. My over all goal is to lock up and assign as many deals as I can.
Any help or advice is much appreciated.
Bill.
Use an official Purchase & Sale Agreement and e-mail it. Nothing wrong per se with a letter of intent, but thats exactly what it is; an unofficial letter saying you 'intend' to purchase the property,......if you're interested.
Why do the same thing twice when you can just put in the offer once and be taken much more seriously??? Think of it like this;
A house is going for $450k and 10 offers come in, the most for $425k all with P&S Agreements. You send in your LOI with an offer of $440k.
I or my client would look at you very skeptically because we would wonder why you just didn't make an official offer.
You only one chance to make a first impression
That is a fantastic point, most people who are getting started in real estate just need a push, they find that this is a fantastic way of making an offer - to just get the ball rolling if nothing else. A legitimate Purchase and sale agreement would be great, but must most realtors are forced to use their own board approved contracts in the first place so in the event you fired off an email on your own P and S agreement and the other offers were already on the contracts that were approved by the board of realtors, your offer wouldn't hold water anyway! Your right, and a legitmate offer takes the cake, but usually only with proper representation! To help someone get started LOI is a great way to go. A good listing agent will explore and present any and all offers and in your example where the LOI was 15k higher the homeowner would be foolish not to make a return call to see if the bidder was competent.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
There is a great letter in the realtor section that you can give to your agent to follow when presenting offers. You can tweek it if it is you presenting the offers. If you can't find it, let me know and I will try to locate and forward it to you.