Posted by Stacy (AZ) on June 08, 1999 at 12:22:08:
You can discuss price and terms verbally, but as soon as there’s agreement, you must get it in writing, including signatures. Another thing to be sure of…make sure everyone who has an ownership interest in the property is present when negotiating and signing a contract.
Stacy
Making Offers… - Posted by Debbie Mac
Posted by Debbie Mac on June 08, 1999 at 10:59:56:
I’m new to investing and have been looking for motivated sellers. Recently, I talked to a seller who seemed motivated (divorced, owns the home, wants to sell and move on). He just reduced his price. My question is regarding making an offer. Does the offer have to be in writing or can you just verbally discuss the offer with the seller and if he accepts then you move on to purchase agreement? Or does the offer have to be in the form of a purchase agreement?
I also have a question regarding vacant properties. I got names and addresses for three vacant houses. If it is the vacant property address, do you take a chance and send a letter there and hope for a forwarding address, or is there a better way? One of them owes taxes from last year so this may be a motivated seller. How should the letter be worded so as not to offend?
Thank you for your help.
Debbie MacEachern
Re: Making Offers… - Posted by SCook85
Posted by SCook85 on June 08, 1999 at 13:06:26:
Typically an offer is made in writing to show you are serious. Verbal negotiations are quicker and easier but like Stacy said once you come to an agreement you must put it in writing.
Not all sellers, in fact most sellers are not open to verbal negotiations, but when the opportunity arises you should take advantage of it.
SCook85