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Updated over 9 years ago,
Why do I have to view a property before agent will submit my offer?
So, I recently started making many more offer direct off the MLS than I have before (I am an agent submitting for an investor client). I am getting a lot of "resistance" from listing agents saying they will not submit my offer until both I and my client have seen the property.
I am only submitting offers based on ARV (after repair value) taking into account an estimated rehab cost, based on pictures and/or description, and assuming I will do a "normal" rehab. So, I know on average what my costs will be, for a 3/2 in a certain area.
I really don't care what the property looks like, until I know I have an accepted or at least close to accepted offer.
Once we have an accepted offer and open escrow, we then inspect the property in detail. A very high percentage of the time, we do not "adjust" our price. The only time we do, is if we see any foundation or other major structural issues, that would not have been seen without walking through.
I made over 100 offers in the past few weeks, these were all "fixer" properties. I could not possibly go see all these properties.
BP Nation - Help me out, what is a good response to those agents that want me to go see property. I want to be courteous, but also tell them my client doesn't really care about the paint color, carpet, etc, because he is going to rip it all out anyway. All he cares is the area, and the property has a solid structure.
Thanks,
Brian