Don't Submit That Offer Quite Yet

I recently got a call from a new client who wanted to see a newly listed bank owned property right away! Since it was bank owned, vacant, on lock box, it wasn’t a problem.  They were so excited by the MLS photos and description they were ready to make an offer sight unseen.

It was late Friday, and the first day on the MLS. Once they saw this old world, single level ranch-style home on an acre with a pool in a gated community, they wanted to submit their offer right away!

While I was quite fine writing the offer, I advised them – with their approval – to wait until late Sunday or early Monday before submitting it.

“But why?” They anxiously asked, having previously lost out on a bank owned property with another agent.    

Once I explained that the bank would not be able to review offers until Monday, and their offer could possibly be used to leverage other offers, they understood and agreed.

It’s always a good idea to check with the listing agent before submitting any offer, asking as many questions as they can or will divulge before writing and submitting yours, especially if it’s bank owned on a Friday!

My advice is to wait until late Sunday or early Monday before submitting your offer, but never ever assume they received it! Your agent must always have confirmation that it was received.

After my clients successfully closed escrow on their dream home in Olivenhain they had this to say about their experience: “Robert did a great job in making our buying experience enjoyable for my wife and I. He definitely understands and offers “platinum level service” to his clients.”   

If you’re in the market to buy or sell a home, you deserve “platinum level service.”

Please feel free to call me, Robert Sizer, at 760-519-8436 or email robert@andrewarroyo.com. “Delivering platinum level service since 1994!”