What is a Reverse Offer?
OK Realtors you really want to get that listing some attention?
Maybe something the potential buyer will never forget?
this post by Greg Nino is one I absolutely LOVE! I love the out of the box thinking and know for a fact these types of things really do work. Top of mind and the non normalcy will likely help you get your sellers home sold if you read and try this great tip out...
It's rare, but reverse offers do happen. After a Realtor show's my listing I could simply discuss a strategy with my seller & present an offer to the buyers agent. Since it’s the holidays lets pretend the list price of the home is $10,000,000. After the home has shown I type up the offer with my sellers information and an offer of say $9,500,000.00.
The buyer has now been given an offer to consider, and hopefully proceed with. The seller won't sign off on the offer until earnest money has been delivered, parameters have been fully negotiated and of course pre-approval expectations have been met. It's important to understand that there is no one way to conduct a reverse offer. You could offer more attractive terms and conditions then what's considered usually and customary. You could toss in a 90 day closing, furniture, closing cost assistance, golf memberships, a riding lawn mower and much more. The idea is to stimulate interest, even if it's unconventional.
A regular offer is generated by the buyer’s agent to be presented to the seller. In all cases, it’s never a contract until the seller signs it!
The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.
Comments(1)