OfflineI've got my list of REO's and the prices in which I intend to bid on each. My question is exactly how do I make my bid? Would I e-mail my agent the MLS# along with my bid and P.O.F letter? I know that I had this question answered for my somewhere on here, but I can't remember where and the excitement is confusing me(lol). Any help would be greatly appreciated. Thanks!
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Bryant Slade
You can use your agent or you can call the listing agent and put your bid in with them.
I would suggest using your agent since you will be using him / her on a daily basis. This way they get a piece of the pie if your deal goes through.
If your not going with a particular agent as part of your team then option 2 is the way to go.
I would suggest using your agent since you will be using him / her on a daily basis. This way they get a piece of the pie if your deal goes through.
If your not going with a particular agent as part of your team then option 2 is the way to go.
Yes, I will be using my agent, but my question was "How would I go about submitting my bids with funding to him"? Would I submit my bids along with my own proof of funds letter from Coastal Funding,or just submit my bids and have him use his proof of funds letter?
Bryant Slade
Contact your agent. Tell him/her what you want to do. Your agent will tell you what is needed to submit the offers.
Al
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
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Frank Outlaw
I contacted my agent and he told me that the best first thing to do was to send him over my bid with POF letter and he's got to send me over the contract of contingencies which I've stipulated certain terms into so as not to get myself all tied up into something that I can't get out of if I can't get a buyer for the property(ies). So once he's submitted that over to me to look at and sign, then I guess he'll submit my first offer. I've got 12 more offers to submit also, just waiting on this contract to submit the rest. Then I have 17 more submittals that I need to get over to him as well. Well, wish me luck everyone!
Bryant Slade
I agreed with the superstars giving you the advice because they have more experience in the background of this business. Good luck !
Warm Regards,
Paul T. La Moy
Good luck with your offers on the properties you discussed. Way to take action! You may be in a position to choose your best properties if you get multiple offers accepted. So be sure to know the after repaired value (ARV) of each deal (profit potential) and your exit strategy for each property. You will then be off and running with some great deals. Good luck with your REI. Believe and Achieve!
- Joe
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