Wholesale (Hot Market) - Posted by amanda (NY)

Posted by william (CA) on September 18, 2004 at 19:19:57:

Dwayne is right. She HAS to submit the offer tot he buyer. Even if it was $1. Unless instructed by the seller, It is not her/his job to reject or accepts offers, only to take and submit them.

Wholesale (Hot Market) - Posted by amanda (NY)

Posted by amanda (NY) on September 18, 2004 at 09:31:21:

Hi, everybody.

I have learning REI and trying to wholesale. I learned manythings from Ron Legrand’s materials (find junkers and flip to investors) and looking for ugly houses. Where I live (Westchester County, NY) RE is crazy. Well, I guess, it’s crazy everywhere… I have several questions about wholesale.

I have came across several houses which is listed by realtor and asking prices are around $600,000. Houses are very ugly and looks like no one wants to live there. Anyway, when I did my math, my offer was somewhere around $400,000. When I asked to reltor to make an offer, she said she can’t accept the offer because it’s $200,000 lower than asking price. Since she is the listing agent, she is the only person I can submit offer. I don’t want to find out owner to make an offer directly to him/her. Should I pass this property and move on next?

When you are dealing with so called “Hot Market” and if realtors are involved (especially s/he is not corporative), how to deal with them?

I also found some houses on web. There are listed as “handyman special” and " sold as is". However, I haven’t seen the house yet since is’t about an hour drive to get there. I have talked the owners of the houses (this is FSBO) and received some pictures. Does anyone make an offer without looking at the properties? Or is it’ risky?

Thank you,

Re: Wholesale (Hot Market) - Posted by Paul - FL

Posted by Paul - FL on September 19, 2004 at 09:40:55:

She does not have to present your offer if the seller specified the min price in writing. If there is no written agreement specifying the min price, then the agent must present the offer. This is the law in FL NY maight be different

Re: Wholesale (Hot Market) - Posted by dwayne

Posted by dwayne on September 18, 2004 at 18:47:49:

She has to submit the offer by law. You can put in the offer you want to be there when the offer is given to the seller. So the realtor want say anyting bad about your offer.

Re: Wholesale (Hot Market) - Posted by Bob

Posted by Bob on September 18, 2004 at 14:28:23:

I believe Ron said something about starting in the 80 thousand dollar range. Heck! even in california they can find houses a heck of alot cheaper than 600 thousand. Why mess with those high price houses until roll the dice a few times. Another thing, You can submit an offer through “ANY” realtor. No matter what company they work for. No matter what company has the house listed. Remember you can’t work with “all” realtors cause they think you’re crazy. You’ll find one that likes to make money sooner or later.