I have a motivated seller that is interested in moving his rental fast, he has it listed at near market value on the mls but through our phone conversation (he saw my bandit sign and called me) I know he is ready to accept much less. Should I put an offer in through his Realtor(I’m a Realtor too) or can I negotiate directly with the seller, get him to sign a simple one page purchase contract and pay his Realtor her commission after we close? I would like to avoid putting a large earnest money deposit down. Any advice would be appreciated, thx.
Wow, it sounds like it cud be messy. I’ve only wholesaled one property that was listed, the Realtor contacted me. It was a 2 story ranch house on a big lot out in the country. It was trashed, completle gutted on the inside, outside looked good. He wanted $59,900 He wanted me to fill out a 30 page contract just to make an offer. I told him just call the seller and see if they will take 45K. I thought that wud be the end of it.
I was quite surprised when he calls back and says they accept. The Realtor emailed me the 30 page contract and I printed every one and signed and scanned and emailed them back to him. I was really shocked when my buyer wanted it at 57K
The Realtor insisted we use his Title company & after some back and forth he agreed.
It took about 3 weeks and I was picking up my check for $12,000 friking dollars.
They never even asked for an earnest deposit. But yea, you shud probably go thru his Realtor to make your offers, there shud be enuf profit for everybody depending on your purchase price.
I’m going to work with Realtors more often now.
Oh yea, my buyer is a Realtor and he wholesaled it to the end buyer.