Can I submit my own offer?

[Jonathan H.]

Hello,

Ive been seeing a few properties where the numbers come close to working at listing price. I would like to submit offers where the numbers would work in my favor.

Since I am in direct contact with the listing agents, I was curious to know how do I submit offers to him/her? Do I need someone with more expertise to do this for me?

Or do I just write out a letter as to what I want?
Is there a form?
Do I provide and excel sheet showing why I want the price lower?
List the repairs?
etc?

I feel like I know what I want to pay for this property and why, but do not know what information I should give the agent.

Thanks

[J Scott]

A few things:

- The listing agent (the one who is advertising the deal) probably not represent you as a buyer. The agent can do things like help you prepare an offer and submit it to the seller, but when it comes to negotiation and anything financial, the listing agent will be representing the seller. Even so far that the listing agent has a legal responsibility to tell the seller anything they know about you to get the seller a better deal and also a legal responsibility NOT to tell you anything about the seller to help you get a better deal.

- A buyer's agent is someone who has a legal obligation to represent YOU. The person legally has to help you get the best deal, and would never disclose any information that might hurt you. They will write up the offer, talk to the other agent, etc.

- To find a good buyer's agent, try asking a few investors in your area who they use. Or go to a local REIA meeting and do some networking; there are sure to be plenty of licensed agents there.

- You shouldn't have to pay the buyer's agent anything. Both agents (the listing agent and your agent) will generally get paid by the seller.