"Shy" seller (no response to offer)

[Account Closed]

Hi there.

New, aspiring investor here. Just getting started. I'm working with some family money, trying to find a place in Los Angeles, but I work in China (grew up in LA, family still all there).

As an investment, we are trying for our second property. 

Cut to the chase, we've put in offers on 2 properties so far and nothing back, but the properties are both still showing on the MLS as active listings (Been about 2 weeks since the offers). One is a probate sale so does that explain their lack of enthusiasm? The other is just a big sprawling multi-family with a fair bit of clearly unlicensed work on it and that one just never gets back with a yes or a no. We had one counter-offer stipulating a shorter inspection period, which we agreed to, and then nothing.

Any tips as to how to figure out what's going on? Like the place with the unlicensed work, maybe hiding something? Feels like they need to sell only to someone they really trust? Or the probate piece...do banks just move super slow? All I head from the realtor is that the seller "rarely takes offers" (still waiting for clarification).

FWIW, we got our eyes on another 3 places that might be worth making an offer but I'm just sort of mystified by how these two have gone. Seller is super slow to respond...some stuff about probate that I don't understand I think.

Apologies for rambling a bit. Not even sure yet which bits of information are the most relevant.

Omar

[Charlie MacPherson]

@Account Closed  Your offers should always include an expiration date, otherwise the seller could accept your offer at any time - and that could be a problem if you've moved on to another property.

Also, the way you worded your post makes it sound like you had two active offers at the same time.  Again, that could be a problem if you're not able to complete both sales.

If that is the case, you should notify one or both IN WRITING that you are withdrawing your offer.

Presumably you have a financing contingency in both offers, so if one was under contract and the other then accepts your offer, you could get out based on that contingency.

If you're not working with a good buyer's agent, these are a couple of reasons why you should.

On probate properties, see if the listing includes a statement like "subject to seller obtaining a license to sell".  That could mean that probate isn't complete yet, and that's a reason for slow responses.

On the multi, that counter offer you accepted with the shorter inspection period could actually be under contract with you, based on your response to the counter.  It depends on the wording of the contract and the counter, but I'd do whatever it takes to figure that out TODAY.  

You could already be in - or PAST - your due diligence period.