Posted by HankM on April 06, 1999 at 21:26:29:
I rarely run any offer past my lawyer, but most sellers run EVERYTHING past the lawyer … I’m just being considerate and expediant … a lawyer has fun with one of my contracts, I don’t want to give him three!!!
What is Carlton Sheet’s Multiple Offer Technique? - Posted by Erich
Posted by Erich on April 06, 1999 at 09:11:14:
Can anyone tell me about Carlton Sheet’s Multiple Offers Technique? Where can I find the technique on line?
Re: Carlton says the realetor is legally required to present an offer made thru a letter of intent - Posted by Ruth
Posted by Ruth on April 06, 1999 at 20:28:34:
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Re: What is Carlton Sheet’s Multiple Offer Technique? - Posted by Bert G
Posted by Bert G on April 06, 1999 at 09:54:39:
Basically, you present two or three offers at the same time, any of which will work for you, and let the seller choose one. Sheets suggests doing this in a “letter of intent” if you’re not face-to-face, rather than making up 3 separate contracts.
BG
Re: What is Carlton Sheet’s Multiple Offer Technique? - Posted by HankM
Posted by HankM on April 06, 1999 at 18:26:23:
I must disagree with the letter of intent part … in fact, I’ve found my market very accepting of them … especially in the multiple offer mode … who wants to pay to have an attorney review 2 or three whole contracts when the basics fit on one page???
I understand that this will vary by market, but it works for me.
HankM
One REALLY important point though… - Posted by Jim IL
Posted by Jim IL on April 06, 1999 at 15:55:51:
BG,
CS also says that you need to make clear that each offer is stand alone. Do not let the seller choose terms from each offer and combine them to their liking.
Can you imagine if you offer to pay higher price if the seller carry’s paper, and then offer low price for ALL cash.
Now, your seller says, “I’ll take all cash at the higher price!”
NOT!
Go for it, and skip the “letter of intent” unless your dealing with FSBO’s.
Banks and other institutional sellers will not even consider a “letter of intent”.
PLUS, with the contract in hand, the seller can sign right away, and it is legally binding. A signed “letter of intent” is easily backed out of.
Some Lenders/Sellers (REO’s mostly) I’ve delt with will not even look at my offer until I sign the “as is” addendum they require.
Good luck to you, and I hope this helps,
Jim IL
Re: What is Carlton Sheet’s Multiple Offer Technique? - Posted by JohnK(CA)
Posted by JohnK(CA) on April 06, 1999 at 20:01:56:
Hank,
Maybe I am Misunderstanding your post, but you don’t have an attorney review every offer you write do you ???
JohnK(CA)