Investors You Need to Write Clean Offers to Banks!

I recently listed one of the houses we purchased on the MLS with no repairs, asking for a cash-only investor. Trying to wholesale real quick via the MLS.  Sure enough, I got a ton of phone calls the first couple days and some interesting things happened.

The lock-box combo is not in the agent remarks, they have to call or email to get it.  In the first 3 days I got 4 or 5 offers, only one of them had looked at the property.

• One was for exactly 50% of the purchase price, and was very template offer looking… hmm… I wonder how well this strategy works.
• One was 20% down, the Seller carrying the rest at 4% for 30 yrs.
• Another one was for $30,000 under list price, again they didn’t even look at it.

I also got a bunch of interesting emails.

Investors, if you are presenting this stuff to the bank you will never get any of these accepted.

Be sure to read all the notes and write very clean offers.  Include your proof of funds, articles of incorporation, copy of the earnest money deposit check and anything else the listing agent asks for.  You need to make a good impression on them to get the offer presented!

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