offer writing

[Zira]

If I want to make an offer on a house do I have to contact the listing agent and sit down with them to write it up? Or can I get a offer form and do it myself? If I can do it myself, can the offer be sent straight to the seller? Or, does it have to be sent to the listing agent?

Thank you.

[Codythebest]

You can do it yourself and you can send it directly to the owner. The owner will have to pay the listing agent no matter what.
However, lots of listing agreement stipulate that everything need to go through the agent.
It's a good idea to go to the owner since some agents won't present the offer if their commission is "not high enough"

[Zira]

That was my concern that the agent would't present it to the sellers. The agent told us the sellers already turned down $XXX,XXX.XX two times but how are we suppose to know if that is true or not. I would like to get a buyers agent to work with us on it but I heard once a listing agent shows you the house you have to deal with them.

[IggysListing]

In NC all offers have to be given to the seller in a timely fashion.

[Hannigan]

It's a good idea to go to the owner since some agents won't present the offer if their commission is "not high enough" Failure by a listing agent to submit a written offer to the seller is a clear violation of fiduciary, and will result in de-licensing by the State of Calif. Also, a listing agent's commission is typically predetermined. An accepted offer from a buyer who writes up his own offer and refuse representation by a cooperating agent will likely insure the highest possible commission for the listing agent. So your response to the question is misleading, in my opinion.

[Codythebest]

I agree. However, the highest possible commision can be $5000 or $10,000. The difference is right there.
It happens every day that agents receive a low ball offer in their office and think: "What? that low? I'm not working for that low...".
We all know that an agent MUST present all offers, as we all MUST stop at the red lights while driving...
Your answer is very theorical, no offense. Are you a newer agent?

[Hannigan]

I agree. However, the highest possible commision can be $5000 or $10,000. The difference is right there.
It happens every day that agents receive a low ball offer in their office and think: "What? that low? I'm not working for that low...".
We all know that an agent MUST present all offers, as we all MUST stop at the red lights while driving...
Your answer is very theorical, no offense. Are you a newer agent?
I'm not sure what you are saying. Do you get a lot of 250k offers on 500k listings? Do listing agents typically pigeonhole half-price offers and risk their licensure rather than dutifully submit a easiy rejected or counter-able offer?

[Codythebest]

I'm not sure what you are saying. Do you get a lot of 250k offers on 500k listings? Do listing agents typically pigeonhole half-price offers and risk their licensure rather than dutifully submit a easiy rejected or counter-able offer?

Not typically. Nobody typically pass a red light...
There are a bunch of reasons why an agent won't present an offer (and never say to the other party: "I didn't present the offer..." of course - they come with any excuses you can imagine included " I presented it but he said no") but all of them have a money background.

Let me give you the last problem I had about 4 months ago.
I invest in cabins rental in the smokies. There are these 6 cabins for sale by the same owner. They are listed individually but I made an offer for the 6 at full price but with terms: owner financing at 6% with balloon in 7 years AND $0 DOWN. The listing agent called me 3minutes and 30 second later saying owner says no. period. No more. 45 days later, the 6 cabins deeds were recorded under the agent's name. Did he understand and 'steal' the deal from me? possibly. I think so...

[Hannigan]

Not typically. Nobody typically pass a red light...
There are a bunch of reasons why an agent won't present an offer (and never say to the other party: "I didn't present the offer..." of course - they come with any excuses you can imagine included " I presented it but he said no") but all of them have a money background.

Let me give you the last problem I had about 4 months ago.
I invest in cabins rental in the smokies. There are these 6 cabins for sale by the same owner. They are listed individually but I made an offer for the 6 at full price but with terms: owner financing at 6% with balloon in 7 years AND $0 DOWN. The listing agent called me 3minutes and 30 second later saying owner says no. period. No more. 45 days later, the 6 cabins deeds were recorded under the agent's name. Did he understand and 'steal' the deal from me? possibly. I think so... I think I've had one agent fail to submit a rather lowball offer we wrote on behalf of a buyer, but I'm not sure. I didn't double-check because I suspected the agent and the seller were relatives or close friends. Otherwise I would have called the seller directly to confirm. Listing agents are allowed to act as principles here too, but the Dept of Real Estate takes a hard line on failure to submit all offers. Doing a lousy job of presenting or characterizing a cooperating broker's offer is another matter, which happens all the time.

[Codythebest]

I'm licensed in TN and FL. You cannot act as principal for the seller unless stated otherwise in writing. Unless I have in writing that I don't have to present an offer (to low for example), I MUST present all offers even if they are ridiculous and/or I know in advance the seller will not accept it...
FL or TN, there are agents out there that do not present all offers...
And I'm sure there are some in every state...

[Hannigan]

I'm licensed in TN and FL. You cannot act as principal for the seller unless stated otherwise in writing. Unless I have in writing that I don't have to present an offer (to low for example), I MUST present all offers even if they are ridiculous and/or I know in advance the seller will not accept it...
FL or TN, there are agents out there that do not present all offers...
And I'm sure there are some in every state... Sure, but in Zira's case she is simply presenting an offer on a listed property. She didn't say it was lowball, and she's not cutting the commission of the listing agent by seeking a exclusive buyers agent, so I don't see any obvious economic incentive for the listing agent to bury Zira's offer.

[TahoeResource]

You may contact the listing agent directly to make an offer on a property, but remember that this agent already has a duty to represent the seller. When they represent you as a buyer, there may be a conflict of interest.

The seller will pay the listing broker a commission when the property is sold, but the buyer is not obligated to pay a commission unless separately agreed upon in writing. You may want to find your own real estate agent to represent your interests since it doens't cost you anything. If you go directly to the listing agent, you can ask them to reduce their broker fee since they are earning "both sides" (seller's side and buyer's side) of the commission rather than splitting the commission with another agent.

[Codythebest]

Sure, but in Zira's case she is simply presenting an offer on a listed property. She didn't say it was lowball, and she's not cutting the commission of the listing agent by seeking a exclusive buyers agent, so I don't see any obvious economic incentive for the listing agent to bury Zira's offer.

I'm refering #9, not #1...

[Thesa]

Just by needing to ask this question shows you need representation for this purchase - most listing agreements will require the same commission be paid if you have representation or not so - get an agent - I now remember why I quit frequenting this forum - it is people like Cody -

[Codythebest]

I now remember why I quit frequenting this forum - it is people like Cody -

Ooh...May I ask why exactly? Did I offense in anyway?