Special offer

Don't submit that offer - yet!

By
Real Estate Agent with Andrew Arroyo Real Estate - Lic#01187872 CALBRE#01187872

I recently got a call from a client who wanted to see a newly listed bank owned property; PRONTO - THAT DAY!  Since it was bank owned and vacant, that wasn't a problem.  They were so excited by the MLS photos and description, they even brought up the "O" word (offer) even before seeing the property.

Once we got there, the buyer's quickly knew that they wanted to submit an offer right away!  It was Friday and the first day in the MLS.  While I was quite fine writing the offer, I advised them that I would wait until late Sunday or early Monday to submit.  "Why" they asked, seemingly puzzled.Wait Jpg.

When I explained that the banks would not be able to review offers until Monday, but, could be used by the listing agent to leverage other offers once they received theirs, they understood.

It's a good idea to check with the listing agent before submitting any offer, asking as many questions as they will divulge before writing and submitting your clients'.  Especially, if it's an REO on a Friday! I say wait until late Sunday or early Monday before you submit it.  And never, never assume they received it! 

My clients closed escrow on that property and had this to say, "Robert did a great job in making the buying experience enjoyable for my wife and I. He definitely understands and offers "platinum level service" to his clients."

If you desire "Platinum Level Service" from a savvy exprienced real esate agent/advisor in the San Diego County area, I welcome your call and/or questions.  Robert Sizer, Turnkey Homes & Loans, 760-519-8436 or email: robert@robertsizer.com

Posted by

Robert Sizer, REALTOR®

Real Estate investments, Marketing & Sales

Andrew Arroyo Real Estate

1020 Prospect Ave Ste. 350

La Jolla, CA 92037

Cell: (760) 519.8436

Fax: (760) 494.5304

Search All San Diego Homes FOR SALE

CA DRE LIC # 01187872

Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

I sent in an offer last night at 9 PM on a REO.  The price had just dropped on Friday and I knew the intrest would be peaked.  Just as you suggest there was no way I want to tip our hand until the agent was ready to upload files to the bank on Monday morning.

Jul 18, 2011 09:10 AM
Robert Sizer
Andrew Arroyo Real Estate - Lic#01187872 - Encinitas, CA
Associate Broker

Sounds like you're serving your clients well.  Hope your client's offer get's accepted.  Good luck Cindy!

Jul 18, 2011 09:15 AM
Jean Singleton
Capital Realty Experts - Rexford, NY
Specializing in Your Special Needs

Excellent strategizing, Robert!

Jul 18, 2011 09:18 AM
Jessica Holtzman
Keller Williams Realty, Inc. - Moorestown, NJ
Real Estate Agent in Southern New Jersey

Thats a really good idea....

Jul 18, 2011 09:22 AM
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, ACI Home Inspector,San Diego

Good advice, Robert! Congratulations on the sale and the satisfied client!

Jul 18, 2011 09:27 AM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Robert:

You advised your client of the best approach to take.  Good for you and your clients.  Happy to hear that they closed on the sale.

Jul 18, 2011 10:04 AM
Digital Digital
Alachua, FL
full service

Hi Robert,

Thanks for sharing.

That's a good idea, we have to know when to hold them and when to fold them.

Congrats on the close sale.

Have an amazing week!

Jul 18, 2011 05:56 PM
Kathleen Vetrano
RE/MAX Gateway - Falls Church, VA
Helping YOU Achieve YOUR Dreams

Robert,  Agreed.  Great strategy.  Better to know as much as possible and proceed at that point.  Congrats on a job well done!

Jul 18, 2011 06:10 PM