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Updated 6 months ago on . Most recent reply
![Daniel Vroman Rusteen's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2977930/1711721127-avatar-danielvroman.jpg?twic=v1/output=image/crop=1080x1080@0x0/cover=128x128&v=2)
Verbal offer lower than other rejected offer but agent asked for a formal offer anywa
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
![David Uriarte's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/368/1621345438-avatar-deu12000.jpg?twic=v1/output=image/cover=128x128&v=2)
Because until it's in writing it's not a real offer.