multiple offers through a realtor - Posted by tampasteph

Posted by tampasteph on July 04, 2002 at 07:56:22:

Maybe I would offer on something that had been sitting on the market VACANT for 5 months because I might find someone who can’t afford to make double payments anymore.
There’s only so long most people can afford to make 2 mortgage payments.
I made 2 offers yesterday to people in this exact situation.
I’m new to this, and I might not have all the answers (which is why I ask questions here), but I do have a “semblance of intelligence”.
Thanks for your advice, it was very helpful.

multiple offers through a realtor - Posted by tampasteph

Posted by tampasteph on July 03, 2002 at 08:31:56:

Can I make multiple offers on the same property through my realtor?
Say, one very low cash offer, and one near full price lease option offer?
Anyone tried this?
I will be making offers on homes that are vacant, and have been on the market at least 5 months, so there is a good possibility of motivation.
Also, anyone who offers lease options through a realtor, how and when do they get their commision?
Any input appreciated!!
Thanks,
tampasteph

Re: multiple offers through a realtor - Posted by Al - So Cal

Posted by Al - So Cal on July 03, 2002 at 17:31:16:

Why would anybody want to offer on a property that
had been sitting on the market for 5 months or so
when youre in a big RE Bull Market? Duh? Go find something that anybody with a semblance of intelligence hasnt passed on and go find a DEAL?
I know. It`s pretty harsh advice!

Re: multiple offers through a realtor - Posted by waynepdx

Posted by waynepdx on July 03, 2002 at 10:58:31:

If you do a lease option through a realtor, they would not get their commision until you exercise your option to buy (I may be wrong-someone will correct me if I am).

You can offer to pay the realtor a “brokerage fee, or a negotiations fee” for the deal. This should satisfy the realtor, but make sure you get in writing from the realtor that they forfeit their commision agreement for sale or they could come after your seller when you do exercise your option to buy.