OfflineOkay, this question is addressed to experienced investors.....
With your REO offers submitted through RE Agts, are you also including an Accept / Decline time or date limit? In one of my courses I had heard that you always want to create a sense of urgency and to set a date/time limit specific; say 5 PM of the 3rd day after submission. Any thoughts??
--Walter
If it is to be, it is up to me. -unk
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It depends I guess if Owner is "out of town" or local. Twenty-four to forty-eight hours puts a sense of "urgency" to the deal. It can make the owner feel that if they really want to "sell" the property they have to make a decision quickly. If they want to think about it.....well they might not be ready to sell. Guess it depends on the situation. But if they don't accept the offer then....next! Don't dwell on it...they may come back to you later.
For offers I've submitted on REO's, I do always put a deadline of 48-72 hours. However, most REO's will ignore it. That's been my experience.
Tom