Since the market has slowed down I have been asked much more often to make a verbal low ball offer.  Our state of Virginia like many others do not recognize verbal offers as offers that are enforceable.  Even if you are serious a verbal offer just does not sound serious.  A verbal offer just sounds - less than a real offer.  And I am not talking about price.Chess Game

I don't have a big problem presenting a low ball offer but I have a problem presenting an offer that is less than serious. I am just sayin' that a seller is very likely going to consider a low ball verbal offer as not a serious one because you are not serious enough to put it in writing.  Besides why wouldn't you want to put it in writing?  What if the offer was accepted would you want to get it in writing as soon as possible before someone else came a long and made the seller a better offer?

In an effort not to waste your time or anyone else's for that matter, be serious when making an offer no matter what it is and get it in writing.

If you or anyone you know is interested in buying or selling property in the Central Virginia, specifically Lynchburg area, please give me a call, email me or follow me @brokersaunders on Twitter.

 

Nannette Turner Saunders, Associate Broker

Short Sales Coordinator

Keller Williams Realty

1709 Laskin Road

Virginia Beach Va

 
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15 Comments on Serious Buyers Make Serious Offers

DEC
22
2008
113,132 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router

Hi Nannette, you are right on about verbal offers. If a buyer isn't willing to take a few minutes to put on offer in writing, then they are obviously not serious.

3:26pm • #1
262,024 Points 15 Featured Posts Outside Blog

I've been burned before by participating in verbal negotiations.  No way that's gonna happen again.  If it's not in writing, it's not real.  That's what I tell all of my clients, both buyers and sellers.

3:36pm • #2
114,129 Points 15 Featured Posts Outside Blog

Lisa that a value we can share with our clients.  It is our responsibility to help them position themselves for success.

3:48pm • #3
326,791 Points 5 Featured Posts Outside Blog

Nannette, I can not believe that a buyer would only make a verbal committment. I would have to tell them that when they got serious to let me know.

4:00pm • #4
114,129 Points 15 Featured Posts Outside Blog

Yeah Danny that would be like you accepting a verbal application.  It is not worth nothing

4:26pm • #5
460,204 Points 3 Featured Posts Outside Blog

People are looking to take a short cut on finding out if the seller will consider that kind of a price.  A verbal doesn't sound serious to  a seller either!

5:46pm • #6
114,129 Points 15 Featured Posts Outside Blog

Dan & Amy I don't think we should waste our clients time making verbal offers even if they are buyers

William verbal offers don't set an offer up for a successful negotiation

5:51pm • #7
DEC
23
2008
375,225 Points 95 Featured Posts Localism Sponsor Outside Blog

Verbal offers?????  NO way..now more than ever offers should be in writing..to me you are missing a huge opportunity with verbal offers vs. written offers...people I believe are more open to negotiate...and it brings life into the offer..I think verbal offers..often end...by just stating the first offer price...and then it ends...opportunity gained...opportunity lost!

6:55am • #8
396,371 Points 16 Featured Posts Outside Blog

Nannette - oh, just hearing verbal offer brings back memories - and not so good ones. Another agent insisted on bringing a verbal offer and the sellers when well nuts, it was a mess. ~Rita

9:41pm • #9
DEC
24
2008
2 Featured Posts Outside Blog

Good post.  Great point and you are absolutely right.  Putting it in writing does show you are serious.

7:29am • #10
DEC
28
2008
108,597 Points

That is all nice and right but how many low ball offers can you type up until you had enough. I was thinking like you but now I will do them verbally as well. Great post thank you

9:42pm • #11
DEC
29
2008
403,565 Points 3 Featured Posts Localism Sponsor Outside Blog

I think it's harder to take things seriously until they're in writing, especially since, generally, a contract to purchase land isn't valid unless it's in writing, at least in California.

11:26pm • #12
JAN
12
2009
346,896 Points 8 Featured Posts Outside Blog Hit Router

100% on the money. I WILL call the seller and tell him I have a verbal, but will also tell him this means nothing if it's not in writing and will let him decide how to respond.

9:47pm • #13
346,896 Points 8 Featured Posts Outside Blog Hit Router

PS--I've heard the debate that some agents won't even call seller if it's not in writing. I disagree. It's my job to keep seller informed every step of the way.

9:47pm • #14
JAN
13
2009
Localism Sponsor

It's not an offer until it is in writing.  The conditions that are outlined in the written offer are sometimes more important than price.

11:12am • #15

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Hampton Roads, Virginia Beach Nannette Turner Saunders

Virginia Beach, VA

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Associate Broker Keller Williams Realty

Address: 1709 Laskin Road, Va Beach, Va, 23456

Office Phone: (757) 818-1170

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