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Updated over 15 years ago,
Tying up a property quickly
Hi all
I have just started buying SFRs, and have a buyer's broker who treats me very well. He's not always available though--I'm obvioulsy not his ONLY client--and as a result, I've found a good priced property only to have it sale pending by the time I can get a showing. Is there a "preliminary" way of tying up a property that I have a strong interest in -- I'm thinking simply faxing a simple "offer" to the listing agent, or owner if fsbo, or bank if reo, and then following up with viewing, THEN do an official purchase and offer from my broker. Seems I've read about this sort of thing. I want to be reasonable and moral here though, I don't want to needlessly tie up 5 properties, just so I can take my sweet time leisurely looking at them -- I wouldn't want that done to me and I won't do it to others. I'm just thinking it's a way to "jump" on a good looking deal when my broker might take a day or so ...