Is it ethical to submit 6 letters of intent when the buyer can afford only one home? This link will show you the original posting to my blog in November 2007. I received a letter of intent from an agent, who told me they had submitted six of these in the same day.
I learned, through many resources, including the friends here on Active|Rain, that indeed it is ethical to do what was done here.
Actually, they only asked, through the letter of intent, if my seller was willing to accept a low ball offer on this property, which is pictured below.
This is a listing of mine that I have for well over a year. Originally priced according to the market, the price fell from 269,000 all the way to $229,000. Now, we received a lowball offer from this client, who worked out the deal to be $200,000. It closed today HOOORAY!
This price also was much lower than the client paid for it about four years ago. My job was to resent the offer to the Seller. In doing so, we were able to negotiate the deal, which to my surprise, worked out for everyone. The seller is happy to have unloaded this 3 floor townhome, and the buyer got a great deal.
SHortly after I had the property under contract, the agent with the Buyer, listed it for Rent. I came up with the tennant. The tennant from Western New York, found me on my blog from here in Active Rain. They saw I had this listing now for rent, and came here to Southeastern Pennsylbania, and signed the lease to rent this property.
So I sold my listing after over a year on the market, and turned around and rented it out for the Buyer, for a two year lease! Active Rain is a wonderful place. This rental is my fourth deal I have done now, as a direct result of Active Rain. Thanks A|R!