Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

4
Posts
1
Votes
Jonathan Chai
  • Rental Property Investor
  • Los Angeles, Ca
1
Votes |
4
Posts

Offer Related Question - Am I being fooled? Or just a newb?

Jonathan Chai
  • Rental Property Investor
  • Los Angeles, Ca
Posted

Hello folks of BP,

I'm a newbie trying to get my first investment property here in southern California. I have been working with a realtor and for every property that is somewhat promising the realtor is suggesting to put an offer in close to asking to get it accepted. Her goal is to "lock it up" so that the seller can't accept other offers and we can then view the property inside and negotiate for any changes if needed.  Does this sound appropriate?  I asked if there were any penalties or down payment that would be forfeit if the seller and I were unable to successfully negotiate costs for repairs and whatnot after the offer is accepted. The realtor was pretty firm that I wouldn't have to pay anything unless we opened escrow, and that the initial deposit would be refundable 17 days from the opening of escrow. 

It just doesn't seem right because if an offer was made and accepted I feel that both parties are committed or am I just a newbie and these things are normal in which offers which are accepted can be rescinded if needed without issue.

Thanks in advance for the advice!

Loading replies...