This takes time. It is frustrating to wait and have other offers from Multiple Buyers come in on the property while my client awaits a response from the Seller's Lender.
I turn the table and level the playing field. I use a clause in my offers that allowes the Buyer to control his own destiny.
While we have an offer on a home we continue to look for even better deals. They are coming on the market daily.
My clients do not risk obligating themselves to purchase more than one home as a second signature is required to ratify the offers they have out to Sellers. Here is the clause that I use:
"Any Counter offer or Acceptance of this Offer to Purchase will not be valid without the Buyer's second signature of a later date than this original offer; to validate this Purchase Agreement.
The Buyer is making offers on more than one home simultaneously and wishes to purchase only one home.
The Buyer's Validating Second Signature shall be above their original signature on this original Offer to Purchase and dated later than this original date.
A timely response from the Seller will be appreciated."
In our market here in Las Vegas there are multiple offers on most properties. I just make it more realistic for the Buyers to have multiple properties in play as well.
Without that second signature the offer is not Valid.
We have gotten multiple acceptances and chose one and Validated that offer and went to escrow. The other, less favorable Sellers are informed that this Buyer is not interested in Validating those offers.
I teach a down and dirty hands on Investment Analysis Course that is one hour long. The attendees walk away with tools to Automatically analyze their current investments and make better decisions on purchasing more investments in this Great Market.
If you are ever in Las Vegas, email or give me a call and you can set in. It is $25 for an hour that will give you much value for the $ and time spent.
The classes are not larger than 15 attendees and not smaller than 10. It is fast, clear information and moves quickly. I always stay after to answer questions.
I include the "Multiple Property Clause" in that course so you already gained that for free.
My Investors are coming back in droves. We are finding that the increasing rental rates and declining property values here are making our analysis pencil out quite nicely.
I hope this can work for you.
Let me know if I can help further.
Prudential Americana Group REALTORS
PS... Did you catch the term GREAT MARKET? It is a fabulous market for BUYERS.