Table Of Contents
- 1 Who Delivers Your Offer to the Seller?
- 2 Two Standard Methods Are:
- 3 Who Delivers Your Offer to the Seller? (Cont.)
- 4 How to Present an Offer to a Seller?
- 5 The Following Steps Apply If You’re Not Able To Deliver An Offer In Person:
- 6 Will Your Offer Be Accepted?
- 7 What Happens After a Buyer Makes an Offer?
- 8 When Can I Get the Seller to Answer My Questions?
- 9 Is a Seller Required to Respond to an Offer?
- 10 So, Who Delivers Your Offer To The Seller?
Who Delivers Your Offer to the Seller?
First, the buyer’s agent is always responsible for delivering a written offer to a seller. The specific circumstances must be considered to determine the best strategy for presenting an offer to a seller.
Two Standard Methods Are:
* Sending fax with a fully signed contract through electronic signature services.
* Hand-delivering the signed original documents. This method may require overnight delivery from the courier service if the contract must be delivered quickly.
If they have time, some sellers will reject offers that don’t officially arrive on their desks.
Who Delivers Your Offer to the Seller? (Cont.)
How to Present an Offer to a Seller?
Some real estate brokers suggest that the way you present an offer is important. It directly affects how likely it is for a seller to accept your offer.
The following suggestions are made regarding how to submit an offer:
* Present the offer in person with a complete original set of contract documents (no photocopies, faxes, or emails).
* If more than one broker is involved in representing the buyer, make sure they all attend this meeting together.
* Have your broker bring along qualified staff who can answer questions about financing and inspections.
* Bring along any attachments such as addendums, disclosure statements, or other supporting documentation which would be helpful for the seller to have.
* If the buyer has their qualified staff on hand, they can bring their secretaries or administrative assistants into this meeting.
* A successful offer presentation follows the 80/20 rule: 80% of your presentation should be on why you are a good buyer and 20% of it on why you want to make an offer on this property only.
* Each broker is responsible for giving the seller certain information about themselves and their company. This includes providing educational credentials such as licenses, memberships in professional organizations.
They also should include years of experience at both brokerage firms where they used to work, and any awards orations they’ve received within that period.
* If the broker has a website, they may want to provide that as well – it can contain important information about their experience and accomplishments.
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The Following Steps Apply If You’re Not Able To Deliver An Offer In Person:
1. Use your best judgment when preparing the offer package. Ensure all pages are appropriately numbered and bound with the seller contract at the front of the stack to be easily located during the signing.
The cover letter should be stapled behind this document to avoid getting lost somewhere in the stack.
Separate all addenda from other documentation since sellers rarely read through a large amount of material unless something catches their interest first. Include a brief letter explaining each attachment along with the pages where they’re referenced.
The buyer’s agent should bring multiple sets of each addendum if a different signature is required from a party other than the seller.
2. Include a printout of any electronic signatures used on your side to save time. Include a copy of the executed contract with a sticky note on top reminding everyone involved why this particular offer is being submitted.
3. Make sure all conditions are clearly marked as either waived or not waived on both copies of the offer. It’s also imperative that you attach proof that certain conditions have been fulfilled, such as inspections or appraisal results, which you can get from your real estate professional before going into an offer presentation meeting with a seller.
4. Include your credit report or proof that you have pre-qualified for a loan with the seller’s preferred lender. Your broker may also offer proof of funding, so the seller does not need to contact third parties to verify this information.
5. Make sure all copies of the offer are marked as “Plain Copy,” which means no redlines or comments were made on them by anyone after they’re printed out, including the buyer’s agent or lawyer.
6. Place each document in an envelope based on its contents:
* Credit Report
* Loan Contingency & Property Condition Addendum
* Proof Funds (only if the seller required proof of funds)
* Earnest Money Deposit or Wire Transfer
8. Make sure to include the contact information of everyone involved in the transaction, including yourself and your broker.
9. Prepare a cover letter explaining why you are making this offer on this particular property. It should be brief but persuasive.
10. Send the documents to your broker for review by hand or courier so they can attend an offer presentation meeting with you. If they are unable to come along, have them deliver it directly to the listing agent for submission on your behalf at least one day before the scheduled appointment with the seller.
Will Your Offer Be Accepted?
Do not worry if you cannot attend a seller’s open house or any other meeting. Your broker will use the package that you have prepared and delivered to them.
An offer may be accepted in person by the listing agent, so contact your broker before seeing the seller if time is an issue. It may take up to three days from when an offer is presented until a decision is made.
If no contract negotiations ensue after the presentation of an offer, a counteroffer may be issued immediately.
Your real estate professional should advise you about what should happen next based on market conditions. Also how many offers are already pending for that property. They know the business well and should keep you informed throughout this process!
What Happens After a Buyer Makes an Offer?
Your real estate professional will call you to discuss how negotiations went with the listing agent. If no counteroffer is issued within three days (72 hours), then your offer may be accepted!
It would be best to ask for written confirmation when this happens. Without it, no one can know what transpired between you and the seller until they see a record of acceptance.
When Can I Get the Seller to Answer My Questions?
After submitting an offer, getting answers to questions about a property or negotiating contract terms with the seller may take several days.
Your real estate professional will let you know if the property is under any contingency. Whether it’s being sold by the owner or being sold through a brokerage. You’ll have to wait until that situation changes before proceeding with negotiations.
Is a Seller Required to Respond to an Offer?
No matter what time an offer is submitted, there are no guarantees that you will hear back from the seller right away. Even if they want your business, many properties receive multiple offers at once, or their situation prohibits them from taking action immediately.
This can be frustrating for buyers, but remember this: patience and persistence pay off in the end! We hope this helps to explain how offers are made and accepted in the real estate market.
So, Who Delivers Your Offer To The Seller?
As you can see, there are a few agents or different people who delivers your offer to the seller. It all depends on your situation.
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End Article: Who delivers your offer to the seller?
Disclaimer: This article is meant for educational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.