Has anyone else run into this?
My client expressed an interest in a property which we haven't seen yet because it just came up. The only viewing opportunity was during the first and only open house.
At the open house, the out-of-area agent asked buyers and their agents if they're interested in submiting an offer. And if such, the agent handed out a simple WORD document which had short questions, and asked the buyer/agent to complete.
- Contact info for buyer
- Contact info for seller
- Offer price
The buyers and their agents were told that the deadline to submit "offers" was at the end of that open house, and that the offers will be discussed with the sellers immediately after the open house
At the end of that meeting with the seller, the agent then called the agents to let them know what the top offer was.
Remember...neither a formal offer nor a preapproval letter was submitted. Just a WORD document with basic information.
I suppose whoever comes out on top will then be instructed to submit a formal offer using the requisite purchase agreement. But for now, this is how the agent wanted to compare "offers".
What's wrong with this picture?