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Updated about 3 years ago on . Most recent reply

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Ryan Badowski
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Making offers - newbie help!

Ryan Badowski
Posted

Hi y’all!  I have a question regarding making offers. 

What does this process look like? 

Say I see a listing on realtor.com that I want to make an offer on. I am preapproved, but do not have an agent.

How do i make an offer and will it “cost” me anything up front if accepted? Isn’t there money that’s needed to be put down for due diligence on top of escrow etc?

Seeking clarity. Apologies if I’m all over the place😅.


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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Whatever you are thinking about doing, don't do it. You are not ready from what you posted. Who do you know in these areas who can go look at the property for you? Why don't you have a real estate agent already who can do the looking for you so you don't have to look on realtor.com? What types of properties are you hoping to bid on? If you are looking at flips, you will get beaten by cash most everywhere. If you are looking to hold a multi with 20 pct down, you really need someone who can run rental comps. How did you pick your target area?

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