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Written Offers - http://www.dealmakerscafe.com Forums

Original message

Ka$hflow King

"Written Offers" , Mon 22 Jan 11:51:

Hello there. Newbie trying to get into the game here guys :)

Joe Arlt and John Burley state that it is essential to submit lots and lots of written offers to be successful. They have more property than most people I know so what works for them is a thing that is worth checking out.

My question is what exactly does submitting a written offer accomplish? Is it just a means of sending lowball offers in bulk to a realtor for getting expired MLS listings to come your way? Is it part of their VA strategy as well? Would you send a written offer to a FSBO too? Basically I do not understand the difference between sending in a written offer as opposed to phoning a person and arranging an appointment for filling out the paperwork in person with both of you there to sign.

Assume that I am clueless. This may be common sense to most of you but not to me. Thank you now.

-KK

[this message was edited by Ka$hflow King on Mon 22 Jan 12:07]

Replies:

Dealmaker
Moderator

"Re(1):Written Offers" , Tue 23 Jan 07:57

Hello:
Regarding FSBOs or as I've stated before a lot of the houses I buy are NOT even on the market, I propose the offer while I'm in front of the homeowner. If we agree, I complete a contract based on our agreement and have them sign then. I do not leave any contract or written offers with them. I have sent over a couple of blank Land Contracts for them or their attorney to read..however, I always tell them that's a generic LC. Our LC will be based on our agreement so there may be things that apply & some items may not.

With properties that are Listed (MLS) your offers will more than likely have to be written. I have one Broker that will take my verbal offers; everyone else wants a completed and signed agreement. Also, you'll need to front them earnest money of at least around $500.00.

Dealmaker

RobertNM

"Re(2):Written Offers" , Tue 23 Jan 22:15

Either I am lucky , persistent or just a pain in the butt. But, I make written offers with a check for no more that 10.00! A realtor countered one of my offers with diff terms including 500 earnest. I recountered with 15.00 earnest and she accepted. we had 6 counter offers by the time we were done. Agents are used to 1 counter 2 max. I made her work for her 2%. Yea, she gave the other 4% to me. hehe. That was weird! but oh well, you never know what will happen until you ask. Confidence came after my first deal. I just faked it until I made it! I am getting lots of calls off my paper ad, and I should have my 18X24 signs this Friday. Then it is rock and roll time.

Robert in NM

Dealmaker
Moderator

"Re(3):Written Offers" , Tue 23 Jan 22:36

Hey GUY!
That's the way to push the envelope and stay in CONTROL. Got your e-mail. Drop me a line around 12:00 Noon CST on Wed.

Great job!!!

Dealmaker

Steve

"Re(1):Written Offers" , Mon 22 Jan 14:05

Hey KKing, you can learn a lot from these guys. their ideas and philosophy is different that the ones you mentioned. we attract sellers to come to us. very few houses I get calls about are listed or for sale. we attract really motivated sellers. shotgun written offers is a technique usually reserved for listings within the MLS system. I never submit written offers to my sellers. they call me, i meet with them and then we agree on the deal at that time we sign an agreement. i never leave an agreement with them.

i highly recommend, as Dealmaker always does, you read the archives. there a lot of great information about their system there..look at the bottom right-hand corner of the main screen for the forum, you'll see Open {1}{2}{3}{4}{5} etc.. click on them and you can read the previous post. read them all! I cannot stress that enuff! i don't post alot on here but i read everything.

i really think working both strategies (Burleys, Arlts' and dealmakerscafe.com) is the best. i still learning about Burleys' but getting the deed from a motivated seller is king! - Steve