I need some advice on how to make more offers then my agent is capable of making.

Currently my agent cannot send more than one offer at a time due to ethical or contractual reasons. So what I'm stuck with is one offer per month. Well for an invester trying to buy a duplex how can I make 10 or 20 offers at one time? I usually offer an amount that will allow me to at least break even at 10% down which isn't asking a whole lot so it may take 10 or 20 offers or way more to actually get someone to bite but this is how it's done. Now if an agent did this it could take all year to make ten or 20 offers.

It was suggested to me to hire multiple real estate agents but I think thats rude.

My question is if I could simply go to www.legalzoom.com and download the same offer letters that real estate agents use and send them myself and then hand it back over to the RE to help with the transaction?

I don't understand why your agent can't make multiple offers for you unless they are all on the same property (for different amounts to be used in succession as they become out bid).

If they are all on different properties there shouldn't be an issue (just make sure you can cover them if all get accepted).

I have had Customers (Not Clients) make multiple Offers on different properties knowing that they could only purchase one; but they were prepared to lose the Deposits they left on the others. They also understood that they were opening themselves up to suits for Breach of Contract IF their Offers were accepted and they did not/could not perform.

If "Your Agent" is under Contract and representing You; then as Mr. F. suggested above, perhaps Your Agent is looking out for your best interests.

The fact that you even mention "Financing" would imply that you are not in a position to absorb multiple properties into your portfolio simultaneously.

This is ridiculous... Your broker/agent CAN send multiple offers.

As said before if all accept you would be SOL. If you make the earnest money small then it wouldn't matter. Also I put a small time period in there for acceptance usually 24hrs. This way with multiple offers out there if I have already accepted some but they come back after the 24hrs with an acceptance I don't have to accept but can if I want to.

Why just a DUPLEX??? I will PM you some more info..

Thanks folks for the comments.

Well I have been able to accept two houses at one time but currently I'm just looking for one duplex before re evaluating Austin's market.

THe problem is the agent acting as the middle man tossing around offers and counter offers. This takes weeks just to find out that he denies my final request.

BTW every request I make takes me printing a ton of forms, prequal changes, signing and scanning back in and then all over again with a counter offer due to changes to the paperwork exc. All for one house.

If I could simply make multiple offers before printing, singing and scanning forms then I could get much more done. I find it frusterating how long it takes to buy a house in Austin when there is thousands on the market especially when a lot of them have been sitting for 6 months. I just want to send a bunch of offer letters (NOT HUGE PACKAGES) and see if they accept. Even if I don't make multiple offers maybe I can just call them and say "hey I saw your place and was wondering if you will accept this offer?" I mean wouldn't that save both of us time? Why print out all that paperwork just for the seller to see that I'm interested? My agent said it makes the offer more serious to the seller but I'd rather save ourselfs a huge headache.

There is a one page form you can create outlining basic terms,kind of like an LOI(letter of intent) in commercial.

It's to basically gauge interest of th eparty in basic term sin a one page form. Then if there is interest you proceed further and get into negotiations.

I know an REO broker that does this all the time for his buyers. It's a one page from and saves a ton of time. Why in the world would you spend 20 pages of ink and paper and time when there is NO interest from the seller?

If I did that I would spend hundreds of dollars of month in ink and paper. I usually e-mail a verbal offer or call on the phone to gauge interest for my investing.

Awsome thts what I will start doing.

Thanks a bunch I knew their was an easier. way.

I really doubt that most sellers would even respond to a letter. Most sellers want to see something more concrete, such as a written offer. Your agent should have no problem submitting multiple offers on multiple properties for you. Tell your agent that you will sign a "Hold Harmless" agreement stating that you will hold him harmless if you get into trouble with multiple offers or that you won't sue him. The best way to write multiple offers has already been stated in the thread. Make sure the timeframe expiration on the offer is short, like 24 hours. Like already stated, if the sellers all come back accepting after the expiration, it would be YOUR option to move forward or not.

Great idea 007 I will notify my agent

I agree with Vermont. You open yourself up to law suits when you get three acceptances and you only can accept one.

Merkaba,

What 007 said above...have offers expire so I can get onto more offers.

I am glad I could help...

Letters of intent will be simplest approach.

Or sequential expiration dates on offers.

Or put in your offers that acceptance by a seller is expressly not binding on buyer unless following seller's acceptance the buyer subsequently signs off on the acceptance and acknowledges the seller's acceptance in writing.

Make sure all your offers have contingency clauses so you can get out if need be.

Good luck.

You can get out with the inspection contingency, as long as you meet the requirements of the contingency (e.g., in Florida, you must have the inspection performed by certain defined licensed professionals).

You also can make one offer after the other expires, e.g., one offer today to expire in 24 hours, the next offer 24 hours from now (typically, especially on REO listings, you will not have heard a response to the first in 24 hours), then if you get a counter-offer and want to counter, you make another offer (also waiting 24 hours in between), then you are never in danger of having more than one outstanding offer at a time, yet you can make multiple offers.

Some MLS rules prohibit agents from writing multiple offers for buyers whom they know cannot complete all deals. It is part of our duty to make sure offers are presented from truly qualified buyer (obviously they are not qualified to close on multiple deals).

Additionally, some agents (not all) will refuse to consider anything but the many pages that constitute a *real* offer. I grew tired of making offers for one investor recently, so I emailed an agent the basic terms to see if her seller had any interest. She then proceeded to call and give me a twenty minute lecture about my "lack of training" and "don't you know that it isn't a real deal until it's in writing?"

No, I had no idea. I thought that we could just close the entire transaction without writing the first thing on a contract. URRRRRGHHHHHHHHHHH!!!

Verbal is usually a LEGAL contract but is UNENFORCEABLE in a court of law hence they want it in writing.

You just simply explain to the listing agent that your buyer is an investor who makes many offers and wants to get general terms down before locking in an offer.If you want you can make a 1 page form that lists the property,the buyer,earnest money and conditions,closing date,inspections,and purchase price and reply by date.

Send that in and if interested the seller or agent will call you back and then everything will be submitted in a full contract.