Making A Written Offer!

thanks jon

i didnt mean like a silly low offer sorry if this sounded that way i meant a reasonable low offer than what the asking price is.

for example im not going to make a 300K offer on a 400K asking price.

but thankyou for your thoughts

I have just bougt another IP and as I generally buy interstate going into the agents office is out of the question most of the time. After discussing the property over the phone and I want to put in an offer. I fax or email a signed one page document which outlines the following :

– The price for the property offered
– Names and contact details
– Finance and the terms
– Building, pest inspections
– The deposit amount
– I usually add a time-frame (24-48 hours) for a reply from the vendor or agent with an acceptance, rejection or counter offer

To me this shows the agent and the vendor that I am serious and in return I get taken seriously. When we agree on price and terms them the agent can arrange for contracts to be signed. We have a fax machine at home, so this speeds things up.

We have quite a few IP's and if we haven't bought in person then this system has worked very well for us. In fact, once we have made the initial offer in writing then any counter offers are usually done verbally. This is obviously because the agent sees you as a serious business person and let's face it … property investing is a business.

I agree with Jon here, …. If you are serious about buying a property then I see no reason why you wouldn't be prepared to make a written offer. If you want the best chance of your offer being accepted then why wouldn't you take the time to put the offer in writing, I'm sure it gives the vendor confidence that they are dealing with a genuine buyer.

Martin