🔥 Subtle & Indirect Impacts on Writing offers! 🔥

[Kyle Curtin]

Goooooood mornin’ FB!

This wonderful (and cold) morning, I wanted to chat a little about a few external and indirect aspects of walking properties to pay attention to, and when submitting offers how they can make an impact outside of the normal price, terms, dates, etc.

1.) Amount of folks at the open house/showing- This one can be a subtle or very noticeable indicator about the demand for a subject property in particular. There may be many factors for why this may be, such as a low asking price, more of a “turnkey” style with rents closer to market/at market, a more updated condition, or the complete opposite, etc. If there are many people walking through a particular property with their agents and there is a lot of attention on it, you may have to have a more aggressive offer to compete with some of the others that may come in. This is not always true, but if there is a ton of demand, it will likely serve you best to put up the best hand you have (as long as the numbers make sense) and put your best foot forward with your offer!

2.) Multiple offers in hand- This one ties directly back to #1, but is much more direct. If you (or your agent) talk to the listing agent and you are both told that there are multiple offers in hand, it will also likely be in your best interest to decide if you are shooting your shot and the number & terms that you are comfortable with at a faster pace. Being told that there are offers in hand might mean that there are 2x and one is 200k under ask in cash, or an 100% seller financing that does not fit the seller’s situation and either are not anything worth taking action on, but they are still offers. I can almost guarantee that you will get very little to no information about these offers because of confidentiality that us agents must follow.

The both of these are 100% case by case and indirect and speculative by nature, but keep them in mind while walking properties in addition to everything that you are supposed to be looking for such as potential value add, conditions of units & ages of Capex items in the basement, lease/tenant situations, etc.

What are indirect aspects that you guys pay attention to out there that will most likely impact how you structure your offer?

Happy Thursday y’all! 😁

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