Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
First-Time Home Buyer
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 7 months ago on . Most recent reply

User Stats

11
Posts
3
Votes
Daniel Vroman Rusteen
  • Investor
  • Global
3
Votes |
11
Posts

Verbal offer lower than other rejected offer but agent asked for a formal offer anywa

Daniel Vroman Rusteen
  • Investor
  • Global
Posted

Price: $1.2M

Offer: $900k

I had my agent call to see if the seller would accept this price because it's been on the market for a year.

The seller's agent said the owner had rejected a $1M offer in the past, but it's been awhile so maybe and asked for a formal offer with proof of funds and pre-approval.

Why?

Why not just ask the seller since they'd already declined a $1M offer instead of having us do more work.

From my perspective, if they want to sell, they have a verbal offer they can accept, and if they don't want to present a verbal offer, the seller probably isn't very motivated.

What would be the point of sending a formal offer in this scenario?

Most Popular Reply

User Stats

11
Posts
6
Votes
Replied

Because until it's in writing it's not a real offer.

Loading replies...