Daniel Reynolds, RealtorÂ®
Broker Executives, Inc
Broker Executives, Inc
Depending on the type deal you want to structure on the contract and addendums, being detailed and thorough is important when working with third parties to a real estate transaction. I have seen deals fall apart due to faulty, incomplete and modified contracts. I would suggest once you put in your first offer, give the seller a time frame by which to answer, say 5-8 hours. If not accepted, go to the next home of choice and do the same. This is a process of eliminations and you are moving aggressively forward.
Your comment, "My problem is that my realtor doesn't want to make an offer on any property we are interested in," is interesting. I assume you and your realtor have worked closely together during this time and shared many thoughts. Has your relator suggested reasons why writting a contract on a particular property would not be to your best interest?
You seem like an informed, confident and intelligent person, and I feel your choice of realtors would reflect the same. Perhaps, it is not an incompentence issue with your realtor but maybe a difference in style and opinion as to the approach of working in a shifting market?
Thanks for the post and I wish you much luck in the future.
Have you expressed your concerns to your Realtor? Making an offer of $410k on a home priced at $450k is a decent offer. However, if the home is a short sale and is already unrealistically priced at $450 it may not sell for anywhere in the $400s if they owe $900k. That's an exaggeration to make the point that we don't have enough information to judge your particular example. A client asked me about a short sale yesterday that has 3 loans from 3 different companies, the owner filed a bankruptcy and the seller doesn't want the hassle of a short sale. If that's the house you're asking about, it doesn't matter about the comps and how long it's been on the market - it's not really available at any price until it completes the foreclosure process and becomes bank owned. But, I'm going to write an offer on it today for my client just to be sure. Bottom line, your Realtor works for you and if you don't feel comfortable, confident, etc in their ability to represent you, that's the real issue. Good luck!
Diane Conaway, RE/MAX United, (760) 749-2888
You are doing it right by looking for more expensive properties and offering less. We are in a buyers market right now and this strategy works just fine.
As far as the amount of work is involved in writing and presenting an offer it is part of the job of being a real estate agent.
If you feel that you are misrepresented, you don't have trust for your realtor, then it's definitely time to find another one that will do the job for you.