I have some business experience and have committed to building my real estate business for long term success.

If you give the agent what they want (and don't try to usurp their commission), they have the ability to work in your favor.The listing agent could easily take your verbal offer and relay it to the seller (there is nothing legally stopping them from doing so), but that would be poor negotiation on the part of the agent, and the agent is apparently smart enough to know that having you write up and sign an offer will emotionally commit you to the property more so than you just throwing out a number over the phone.If you want the property, submit a written offer (on a contract) and let the listing agent do their thing.

If it were a Sub-2 without a significant financial commitment by the buyer, I think it would be more risky.I will be assigning and not double-closing, andI will avoid being in the chain of title as well.

The key to having a successful marketing campaign is to set your budget, no matter how large or small, and commit to mailing every month rain sleet or snow, calls or no calls.

Also, I try to establish trust with my sellers so they are committed to working with me through the end and less inclined to cut me out of the deal once we start that process.That said, you just never know.

If the fee is pre-paid to him without a solid commitment, then I would tend to agree with others.

This is a critical bit of information you should have known before committing to buying the property.This is an extremely important issue to real estate ownership that can continue to bit you in the backside for the entire time you own the property.I am a third generation developer with a lifetime of experience with creating owner associations, CC&Rs, By-Laws, etc.It would be extremely wise if you seek the advice of a real estate attorney where the property is located that specializes in property owner associations, CC&Rs, and By-Laws.I know of a community resident that sued a neighbor because the neighbor put a light bulb greater than 60 watts in the front porch light.I know of different association that sued a homeowner because the color of the few new roof shingles to patch damages did not exactly match the faded color of the older shingles.Consulting with a lawyer may be the wisest and cheapest money you have ever invested.

Especially with a seller in such a hurry to get you to commit to buying the property at $75,000 when you think it is worth $130,000.If it were me, I would not spend another second considering this property ... that is unless you want to take the time to learn why this may be a bad investment opportunity.There is no such thing as "mint condition".

Calculate the return on your committed cash.Next, calculate your cash on cash return on a retail rehab.

Always defer to experiential wisdom.REI can indeed produce those glorious successes you've heard about, but not without commitment!