Since I have a few short sale listings in the lower low, lowest price range for the area of the city they are in, I receive quite a few calls and emails about the properties. Recently, I have started receiving offers on these homes as well.
I like receiving offers on my listings! Actually, it ranks up there as “one of my favorites” about my business. Lately though, I’ve been receiving offers on these lower end properties where it appears the client wrote the offer and the agent just forwarded it.
I’m not new to this game and know many investors like to operate in this manner. Is is right? Is it ethical? I’m not going to answer these questions, everyone has a different opinion. Let’s just say, I don’t personally write offers on homes I haven’t seen.
If you are going to allow your investors to write the offers, I have a few suggestions:
- Make sure it is the most current contract available – or plan on sending me a new offer
- Please send the short sale addendum as requested
- Have your clients sign the correct page of the contract
- Send me the signed contract on the correct property
- Give my clients enough time to respond
- Educate yourself and your client about short sales
I understand investors like to throw contracts at the wall and see what sticks, but this is my seller’s time. The short sale process is not going to change just because your client has cash. I owe it to my seller to submit a valid contract and when any of the details are missing (especially a signature) or the correct address, I just can’t submit your offer.
If your client wants to see what sticks, send me a valid offer. I look forward to working with you and closing the transaction for both of our clients.