Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 over 5 years ago on . Most recent reply

User Stats

48
Posts
8
Votes
JJ Mayer
  • Rental Property Investor
  • Bloomington, IL
8
Votes |
48
Posts

A Double Offer Strategy?

JJ Mayer
  • Rental Property Investor
  • Bloomington, IL
Posted

Here's the scenario - I've got my eye on 2 small properties (duplex + quad) in Northern IL .  Both represented by same company (Coldwell Banker), but different agents.  Prices are at $150k & $200K.  

Question - Can I approach one of the two agents, and make an offer of $320k for both properties - letting the agents work out a creative deal to make both sellers happy?  The agent I approached would potentially have a piece of two deals, and now have an aligned incentive to help me creatively close both properties.  Thoughts?

Most Popular Reply

User Stats

174
Posts
69
Votes
Cameron Price
  • Real Estate Broker
  • Hartsville, SC
69
Votes |
174
Posts
Cameron Price
  • Real Estate Broker
  • Hartsville, SC
Replied

That would be really complicated in my opinion. 

I wouldn't' advise my seller to accept such an offer unless they were desperate!

If you could somehow convince 2 separate sellers to accept an offer that ties them to each other, now there are 2 home inspections, 2 termite reports, 2 sets of title work, and a whole bunch of other extremely complicated issues. 

It's tough enough to get to closing on 1 property with all the variables that exist. 2 would be wild. Not saying it's impossible, though. I just closed 2 properties last week where one was contingent upon the other, and I represented 3 of the "sides". That's 2 deals that had to work out for either one to work. We made it happen. But that's a different scenario. 

Something else to consider. Coldwell Banker is a large company. There's one in my town. Doesn't really mean much that they are both represented by Coldwell Banker. If it's the same Agent or the same Broker supervising both Listing Agents, you MIGHT have a better chance, but I wouldn't bet on it. 

Hope that didn't come across as too negative. Just sharing my thoughts if I received an offer like you are describing. 

Loading replies...