All Forum Posts by: Benjamin Cowles

Since you are talking about dealing directly with the seller, (not listed properties) then you need to come to some kind of verbal agreement before you write up your offer. Otherwise you wouldn't know what to write in the first place.

When dealing with listed properties offers are normally made on a full contract with all terms and conditions spelled out.

Thanks Ned.

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thanks @Gino Barbaro. Looks like the answer depends on the situation, agent or no agent, level of rapport etc..

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thanks @John Thedford and @Jim Pellerin! Very helpful answers.

John, does everyone get a contract or don't you initially present verbal offers when, and often I'd imagine, the likelihood of acceptance isn't so great?

And Jim, isn't a letter of intent leave you at more a risk the seller backs out while you're working to bring buyers aboard whether by the seller losing their nerve or encountering another more favorable offer? Not that you wouldn't want to discourage a change of mind absolutely but before setting out to find a buyer to secure a deal wouldn't you want a certain level of commitment from your seller? Or is this a comfortable balance you afford the seller you feel in the long run gains better relationships(?).

Thanks!

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Originally posted by @Doug W.:

Ask him to submit the offers verbally. If a seller is interested then you guys can write it up on paper.

I make a lot of offers and even with the e-signatures in software like docusign I don't want to have to "sign" every line for every offer I make and, more so, I don't want to have to check the document to make sure everything is accurate insofar as how it binds me to the offer. So I think the verbal offer scenario makes sense for me as much as my agent.

Most of my offers are declined at the point of the verbal offer. My current flip's verbal offer was "accepted" so we wrote it up and officially submitted it.

FWIW, after you do a deal with this guy I think he will come around and see that it can be profitable to him to be your go-to agent. That assumes that you then do deal 2, deal 3, deal 4, etc. with him.

Yeah, send like the verbal method is more sensible when throwing out offers. And yes, it may take a couple deals to get an agent really on your team so that's why I'm not really going to be relying on using an agent in the beginning, or ever really.

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When presenting an offer do you typically do so within a contract ready to be signed or could it just be on something less formal ('napkin') needing more or less a verbal agreement soon after which you provide seller with a contract to sufficiently look over, possibly with some attorney/consultant then officially sign?

I'm thinking the former might seem pushy and as a habit time consuming and paper wasting, yet efficient and effective at getting acceptance. Is it a matter of preference? How do you normally do it? Thanks!

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@Anthony Davis yeah, I'm thinking we're just not on the same page. Fortunately using an agent isn't my main intended method starting out here but II connected with him via a CL ad and he offered so...

@Percy N.

@Percy N., an SFR just hitting the market needing substantial rehab. He mentioned being fresh that a low ball offer shouldn't go far but he sent it my way.

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I'm curious about this also. But I'm wondering if, as I've heard/read elsewhere suggested, using a title company or your attorney to provide that for you is a smarter/safer option if you're starting out. Or maybe I'm looking too much into it. Comments?

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thanks everyone!

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not that I disagree, but he's offered to work with me so I'm making offers. So I'm just curious how much "paper" is involved in making an offer? I figured none necessarily, that one could verbally communicate it. Is there much "paper" involved or is he just being totally figurative and it's just not worth his time/embarrassment?

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Originally posted by @Brian Davis:

Awesome mike..you print that directly onto the envelope in house? You find a better response rate or just doing it out of boredom..haha

I also hear that some people view a fish as good luck..maybe I'll split test that with the elephant and see what happens :)

I like these ideas. I like animals in general. I don't know if this symbolizes luck or anything significant but I might try a monkey. But I think the theme is avoid any kind of predator like a lion or shark. Anything cuddly -or delicious (fruit?). Monkey & banana? Elephant & peanut? Fish and... chips?

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All Forum Posts by: Benjamin Cowles

Benjamin Cowles has started 92 posts and replied 441 times.

Post: When presenting offers, use a contract or napkin?

Post: When presenting offers, use a contract or napkin?

Post: When presenting offers, use a contract or napkin?

Post: Agent says my offer isn't "worth the paper"

Post: When presenting offers, use a contract or napkin?

Post: Agent says my offer isn't "worth the paper"

Post: Contract

Post: Agent says my offer isn't "worth the paper"

Post: Agent says my offer isn't "worth the paper"

Post: Print or write return address