Home Buying in Los Angeles>Question Details

Henry, Other/Just Looking in Los Angeles, CA

A house that I'm interested in is in Escrow right now....

Asked by Henry, Los Angeles, CA Tue Jan 1, 2008

- however, according to the agent selling the house, the escrow closes on the 4th of January and the loan still hasn't been approved. How do I go about putting an offer on the house (I know nothing about buying - sorry!!!)

Thanks - and a Happy New Year!

Help the community by answering this question:

Answers

8
Hi Henry,

Well, January 4th has passed by, however, I just wanted to give my advice on the topic incase other people like yourself are in the same situation. First, it is always wise to have a Real Estate agent represent you. There are many laws/regulations that must be followed. Having said that, unless the seller has instructed his agent otherwise, all offers must be submitted to the seller as soon as the sellers agent is aware of them. If for some reason escrow does not close, the backup offers are reviewed by the seller. Depending on various points, the seller will then decide which backup offer he/she/they will choose. If you are still looking for a house and are not being represented by a agent, you are more than welcome to contact me so that I may assist you with your search.

http://www.homefindster.com
Web Reference: http://www.homefindster.com
1 vote Thank Flag Link Tue Jan 15, 2008
Hopefully you were able to find an agent (why not...it's the seller than pays the fees anyways). As a buyer's agent, there is a required amount of fiduciary trust. As Karoline says, you don;t (and shouldn't) have to go it alone!
0 votes Thank Flag Link Thu Jan 10, 2008
Hello Henry, By speaking with a Realtor, you can best find out your options at this point, and what you would need to do to submit an offer. Please don't hesitate to call me at 562-896-2609.
0 votes Thank Flag Link Wed Jan 2, 2008
Henry,

Make sure you have loan approval going into the offer as this will make you more appealling to the seller and give you an edge in negotiating price. Call me @ 646-519-7521 or e-mail me @ jturnquist@guardhill.com.
Web Reference: http://www.guardhill.com
0 votes Thank Flag Link Wed Jan 2, 2008
I'm offering my advice as a fellow buyer - and I agree that you should get yourself an agent! I know I wouldn't want to navigate these pesky, ever-changing waters of the real estate market by myself. Follow Jim's advice and find someone to work with first thing in the morning. If you're truly interested you don't want this opportunity to pass you by. Good luck!
0 votes Thank Flag Link Tue Jan 1, 2008
Great suggestion, Jim.

Hi Henry:

Definitely get a Realtor to represent you in this case - one that is not the listing agent to handle this delicate matter. You want the backup offer to represent you instead of an ammunition for the seller to get the first buyer to perform.

Sylvia
0 votes Thank Flag Link Tue Jan 1, 2008
Sylvia Barry,…, Real Estate Pro in Marin County, CA
MVP'08
Contact
There is a member search button (in blue, second row on the page, fourth button in blue script )
Click on that button or the link below. Then read the profiles of the LA area Realtors and perhaps some of their posts to get an idea of how they think. Call or email one of them, or one of the California Realtors that post a helpful answer to this question about placing a "back-up" offer on a property.

http://www.trulia.com/real-estate-community/Los-Angeles-2263…
0 votes Thank Flag Link Tue Jan 1, 2008
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Hi Harry,

Happy New Year!

You can always put a back up offer on the house. Feel free to email me and we can discuss further. I can be reached at Irina@Irina4RealEstate.com.

Irina
0 votes Thank Flag Link Tue Jan 1, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer