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Updated almost 15 years ago on . Most recent reply

User Stats

32
Posts
12
Votes
Christopher Um
  • Real Estate Investor
  • Los Angeles, CA
12
Votes |
32
Posts

Question on Making Offers on REOs

Christopher Um
  • Real Estate Investor
  • Los Angeles, CA
Posted

REOs is one arena I really want to step into to increase my inventory for my buyers.

With that in mind,
I am not a licensed broker or anything, but in a couple of days I am going to get direct associate access to the MLS through a friend who is licensed.

I was wondering about the process of how I make my offers on the MLS from my own Personal Computer.

Admittedly, I have only worked with an agent to get comps and have them search for recent sales for me. I never really used them directly for wholesaling.

I don't really want to use a buyer's agent in this case.

Do I:

1. Contact the listing agent and send my offer to the listing agent with my own purchase agreement?

2. Send a letter of intent to the listing agent with POF?

3. Should I just call the listing agent and have them write up the offer for me?

4. I go by investor comps, meaning my comps are based off cheap all cash sales in my area. Will the listing agent be insulted that I make an offer based off investor comps and not arv?

Anyways

:mrgreen: I am really looking to move forward with my business. I have a lot of hungry buyers, but not enough inventory to provide them with deals.

Any help would be appreciated.

Thanks
Chris

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