Blind offers are very common in the Atlanta market these days. These offers come from investors or from investment companies and are called blind because they offer to buy without seeing the home first. They plan is to own the home for rental.
Several years ago these type offers presented special problems to sellers. The buyer would often have a fairly long due diligence period, say 25 days as opposed to a more common 7-10 days. Towards the end of the due diligence period the buyer's agent would notify the listing agent that the price would need to be dropped substantially because of this, that or the other thing. After being off the market so long, many sellers would feel that they had to comply with this request, or had already made firm plans to move.
Recently, in the past year, with inventory being so low, these companies have found slim pickings to buy. They have been less focused on getting a great deal and more focused on just getting a home. Rental market prices are up substantially and these companies are looking to increase their rental homes as quickly as they can to participate in these high rental rates.
Blind offers can be tricky in that the buyers are often hard to contact and get paperwork done in a timely manner, but this year I have found they are making good offers and sellers are taking them.
If you would like to learn more about "Blind Offers" and how you might benefit from these in selling your home, give us a call at den Boer Homes and we will be happy to talk.
Comments(6)