All Forum Posts by: Account Closed

Still waiting to get a copy of the offer. But it looks like both were officially rejected. On the bigger multi, even my agent told me it didn't feel right ( squirrely owner, non responsiveness ) but the probate sale seems like the sellers are stalling on purpose for some reason.

I'm already moving on to other properties, but I still feel like I don't really understand what happened. 

Gonna bid on another probate sale this week I think. I guess there's a lot of secret bidding or something with probate?

Appreciate the concern.

I'll print out the offer and give my agent a call. This is actually our second time buying something through this agent. I just didn't take an active role in the last deal

Wow. Quick response. And thanks all.

@Roy: We actually offered 10k above list on one and, I'd have to look it up but slightly above list on the other too. Heard there were were multiple offers on both. Yes. Two offers but my agent arranged all that, with explicit communication on the financing side making it clear I was pre-approved on either one but not both. I trust my agent to have worked that part out. But I will follow up with my agent. 

@Charlie: Thanks for explaining that part about the expiration dates. Again, working with an agent, who I trust to keep me out of any "two dates to the prom" issues. But I'm also just trying to figure out how to do this mostly remotely. I'm still in China, trying to buy my first property back home. But interesting. I haven't really dug into the actual document describing the offer. I have just discussed the details with my agent and assumed that's what was in the document from the financing side. Not even sure how to wade into that thing. 

Thanks again.

Hi there.

New, aspiring investor here. Just getting started. I'm working with some family money, trying to find a place in Los Angeles, but I work in China (grew up in LA, family still all there).

As an investment, we are trying for our second property. 

Cut to the chase, we've put in offers on 2 properties so far and nothing back, but the properties are both still showing on the MLS as active listings (Been about 2 weeks since the offers). One is a probate sale so does that explain their lack of enthusiasm? The other is just a big sprawling multi-family with a fair bit of clearly unlicensed work on it and that one just never gets back with a yes or a no. We had one counter-offer stipulating a shorter inspection period, which we agreed to, and then nothing.

Any tips as to how to figure out what's going on? Like the place with the unlicensed work, maybe hiding something? Feels like they need to sell only to someone they really trust? Or the probate piece...do banks just move super slow? All I head from the realtor is that the seller "rarely takes offers" (still waiting for clarification).

FWIW, we got our eyes on another 3 places that might be worth making an offer but I'm just sort of mystified by how these two have gone. Seller is super slow to respond...some stuff about probate that I don't understand I think.

Apologies for rambling a bit. Not even sure yet which bits of information are the most relevant.

Omar