Yet another rookie question about offers.

[Scott Hughes]

Here goes another rookie question. It's about making offers on MLS listed properties.

Let me preface this by saying, Please don't give me a 100 word essay about why I should be looking off-market. I am, and I know. But with over 60% of properties still trading on the MLS, this is a problem I want to fix, or at least mitigate.

Here goes: Is there any best practice, philosophy, thought, advice that any experienced people have about when to offer on a deal they find on the MLS?

I work with a Buyer's Agent, as one would/should want to do with on-market deals. However, imagine this, I AM NOT her only client! On top of me asking her to pull comps and set up showings, she has to deal with her own goals from the Broker of her office, her family life, etc., etc., etc.

Needless to say, some of these requests have gotten behind. I was of the opinion not to have offers written before seeing the property and getting the comps (I find them more reliable on value/ARV than me guessing at this point).

Now I am starting to be of the mindset to write the offer (or have her write it) when I identify a good candidate property. At least for flips and Brrrrs. (Maybe not so much with rental ready properties).My thinking is, at least I get there first. I'm likely going to have the property inspected anyways, for major foundation/roof/structural, etc.  problems and have a contractor look at it too. Having a due diligence should give me enough time to back out if it looks like a trojan horse house.

Any thoughts, or advice, or what you would do (besides look off-market) would be appreciated. Thanks in advance.