Blind offers

By
Real Estate Agent with Atlanta Communities 303302

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.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (6)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Peter - different strategies can be more accepted as times(and conditions) shift.  And then there are those times when they will be entirely dismissed.  Real estate is nothing if not something where change is a constant.   

Nov 02, 2021 06:04 AM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Simply buying on speculation.  Where they see the housing market in a year or two. . Have a great Taco Tuesday, make it a productive one.  Thanks again for the post. bill

Nov 02, 2021 06:10 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Peter - some of these blind offers are unsolited when not even looking to sell.

Nov 02, 2021 06:17 AM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Peter den Boer I've never heard the term, but we see some of that here - usually from a non-institutional buyer!

Nov 02, 2021 10:16 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Blind offers are scary for both sides of the transaction for a number of reasons, unless it is purely an investment purchase.

Nov 03, 2021 06:15 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Peter, for sharing your observations and your advice.

Nov 10, 2021 04:52 AM