Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
What consideration ($) is needed when making offers?
I've bought a number of houses over time for my personal use so am familiar with how the transactions work in general. Also, my wife has her MLS license so we have access to MLS, State forms, etc.
My question is, I've heard on here from many that making a couple of dozen (or more) offers/month is a viable strategy with the hopes of getting 0-1 deals accepted. Correct me if I'm wrong but don't you need to pay an application fee with the offer document of say $50 or so? If this the case, wouldn't the fees be quite large over a month/quarter period if dozens of offers are going out? This fee is non-refundable too so is just a flat cost of doing business that can get high.
Also, what about earnest money pending inspection, etc? How much money would you put out on a SFD in the $250k - $300k range? Again, with all of the offers being made in a month - that can be a lot of cash required to be tied up until you know you have a deal!
Am I missing something here?
Thanks!!!!
Sean