Submitting Offer - Can We Do This?
There is a home that I have submitted an offer on through my RE agent. My RE agent isn't moving too quickly, so my buddy decided to call the listing agent directly. Can he submit an offer through the listing agent a little lower than mine in the hopes that one of our bids will make them bite? Assuming one of us gets the bid, our funds are going to be coming from the same place and we will be working together to rehab the home.
Thanks in advance,
Junoti
I would say yes you can do that. I did that once and it back fired on me. The realtor said that he had 3 offers in 2 days on the house( 2 were mine and my partner). He said that he wanted to wait for a couple of more offers since he had 3 so fast. Then he started calling us back playing the numbers game between us. Like your offer was lower than another I got, would you like to raise it. Come to find out there were 3 investors bidding on the property and we were all real close. Just trying to jack up the price.
If your RE agent isn't moving fast enough than tell him he's not or go to his boss and tell them. My offers are usually submitted in less than 20 minutes and then I call or my agent calls to make sure that they got it and fully understand the offer. We then ask when is it going to be given to the home owner. I have even threatened to call the homeowner to make sure he got the offer.
Some agents are slack and some are good. Find a good one if yours isn't doing the job you think he should be doing.
It is my understanding of Ca. RE law that all offers must be submitted by the agent to the owner w/in 24hrs.- Am I mistaken?