Special offer

Thinking of buying my house? Let ME make Me an offer!!

By
Real Estate Agent with NorthGroup Real Estate/www.TonyORealtor.com 218572

How's this for a new innovative way to get your listing sold?!!!

REVERSE PURCHASE AGREEMENTS

I recently read, in the Charlotte Observer, an article about how an agent and his clients decided to take matters into their own hands.

After showing the house a few times to a cash buyer who genuinely expressed interest but made no offer, the owners requested the agent draw up a purchase agreement containing:

> a hefty price reduction

> closing date

> sellers' signatures 

 

This was presented to the buyer who has been "on the fence".

Stock Photo - gardener sitting  on wooden fence.  fotosearch - search  stock photos,  pictures, images,  and photo clipart Drawing - thinking outside  the box. fotosearch  - search clipart,  illustration,  drawings and vector  eps graphics images

 

Talk about thinking outside the box...you can't get much more out than this!

 

 

 

 

At the printing of this article, the buyer still hadn't made a decision but at least she knows the sellers are serious about selling and are willing to work with her.

There's a house that I've taken clients to 3 times now. They want to continue looking but put it at the top of their list.

I wonder if we'll receive a Reverse Purchase Agreement.

 

Pale Dull Yellow Oh, gotta go, there's the fax machine...could it be?...

 

The Suddreth Group

980-254-7263

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Broker/Realtor     NorthGroup Real Estate     Cabarrus County, NC

980-254-7263     TOrefice628@gmail.com    

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Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Wow, that's a pretty aggressive way of doing things and something I have never though of.  I would be interested to see the outcome.  Actually, I would have loved to see the face the buyer made when presented with the purchase agreement.  Please let us know what happens...

Jan 14, 2009 01:37 AM
Gail Szeluga & JoAnna Siminerio
Coldwell Banker Realty - Manalapan/Marlboro - Manalapan, NJ
Fostering Community Spirit Through Real Estate

I love this idea.

Shows motivation on the part of the seller, without seeming desperate.

If for nothing else it will open up dialog between buyer and seller and their agents.  It will certainly make them think about it more than they might have!

Thanks for giving me another weapon in my arsenal!

Jan 14, 2009 02:00 AM
Gail MacMillan
Titusville, FL

Hi Tony - A few months ago, I read about this and even suggested it to the listing agent who had a house my buyer was interested in.  We kicked it around, but the seller didn't like the idea...not sure why.  In this market....whatever it takes.  Did you get your fax ;-)

Jan 14, 2009 04:31 AM
Team Honeycutt
Allen Tate - Concord, NC

Out of the box and ready to make a deal.  We should take this in and think about it. 

Shelton

Jan 14, 2009 05:01 AM
Tony Orefice
NorthGroup Real Estate/www.TonyORealtor.com - Concord, NC
Realtor- Cabarrus County, NC

Jared- I agree, this is a somewhat agressive way to get business! I will keep my eyes open for any more on this article. Thanks for commenting.

JoAnna- Yes, this will certainly give people something to talk about. Arsenal, eh? Watch out world!!

Jan 14, 2009 10:55 AM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Tony,  I hope it is, I hope it is. That's a great idea! Hope it works.

Jan 14, 2009 02:39 PM
Tony Orefice
NorthGroup Real Estate/www.TonyORealtor.com - Concord, NC
Realtor- Cabarrus County, NC

Gail- Really?, this was the first I have read about it. You are right, a seller HAS to consider all avenues to get his/her house sold. Nah, that fax wasn't an offer... : (

Shelton- Amen brother! : )

Jan 15, 2009 02:57 AM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

what a unique and creative idea!  you have got to let us know what happens!

Jan 15, 2009 09:21 AM
James Wexler
wexzilla.com - Scottsdale, AZ

this is the first I have heard the term ' reverse purchase agreement'  , what a great and innovative idea for todays market conditions

Jan 16, 2009 01:33 AM
Caren Wallace
Premier Property Group LLC - Tualatin, OR
Portland Caren Real Estate

I like this idea and would employ it if given the right opportunity!

Jan 16, 2009 02:16 AM
April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

Tony,

I've suggested this strategy to a few agents in my office.  The ones that have gotten multiple showings --- they look at me like I am out of my mind!!  We need to do things differently in this market!  Good luck with the fence sitters.

Jan 16, 2009 10:41 AM
Tony Orefice
NorthGroup Real Estate/www.TonyORealtor.com - Concord, NC
Realtor- Cabarrus County, NC

Maria- I think it's a great idea too!

Leesa- Hi, I agree, it is very unique and creative! I'll keep ya posted if I read any more about it.

Jan 16, 2009 01:25 PM
Gail Szeluga & JoAnna Siminerio
Coldwell Banker Realty - Manalapan/Marlboro - Manalapan, NJ
Fostering Community Spirit Through Real Estate

I have 3 potential buyers coming back for 2nd visits on my listing this weekend.

Perhaps on Monday I will have my seller write them an offer!

Jan 17, 2009 12:43 AM
Ann Dail
Baton Rouge Area Homes, Louisiana, USA, 225-761-0551 - Baton Rouge, LA
Broker/Realtor,CRS, ePRO, SRS, B.A.Chem

Definitely a novel idea!  Let us know if it ever works out.

Jan 18, 2009 04:54 AM
Tony Orefice
NorthGroup Real Estate/www.TonyORealtor.com - Concord, NC
Realtor- Cabarrus County, NC

James- yes, it is a great idea. I'm curious to see if it goes thru!

Caren- So would I!

April- So, you've heard of this before. We do need to do things differently to respond to the today's market. 

Jan 18, 2009 10:50 AM
Tony Orefice
NorthGroup Real Estate/www.TonyORealtor.com - Concord, NC
Realtor- Cabarrus County, NC

JoAnna- GREAT!! Comment back and let us know how it went!!

Ann- I agree and if I hear anything, I will be sure to update the post.

Jan 19, 2009 02:23 AM
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Tony,

I am wsiting for the right time to try......I think it can open the door so to speak.

Jan 21, 2009 11:18 PM
Tony Orefice
NorthGroup Real Estate/www.TonyORealtor.com - Concord, NC
Realtor- Cabarrus County, NC

Dan- I hope that time comes for you soon! I think it can open some doors too...no pun intended. lol

Jan 22, 2009 12:51 AM