Should I make a offer on a property before even looking inside the house?

K

Knife Catcher_IHB

New member
It's a short sell and I drove by the house but they will not let my agent view it.





Also, I can always pull the offer without any legal penalty correct?
 
[quote author="Knife Catcher" date=1238729742]It's a short sell and I drove by the house but they will not let my agent view it.





Also, I can always pull the offer without any legal penalty correct?</blockquote>


Yes. Best idea I've heard so far on this forum, especially if you can get it cheap!
 
[quote author="Knife Catcher" date=1238729742]It's a short sell and I drove by the house but they will not let my agent view it.





Also, I can always pull the offer without any legal penalty correct?</blockquote>


so youre going to put an offer then see it later? this sounds like an investment, so for all intents and purposes, you should assume everything inside is destroyed. In other words, since you cannot see inside, leave enough of an offer buffer so that if the inside is worst case senerio, youve accounted for it.
 
[quote author="Knife Catcher" date=1238730441]Can't I inspect the property at a later date and ask them to make the necessary repairs on whatever my inspector finds?</blockquote>


Good luck getting seller to make any repairs. its a short sale. if you buy the house, you make all the repairs. no one else is gonna pay a dime. its possible, just not probable.
 
[quote author="LoudRoar" date=1238730932][quote author="Knife Catcher" date=1238730441]Can't I inspect the property at a later date and ask them to make the necessary repairs on whatever my inspector finds?</blockquote>


i could be wrong, so dont take my word for it, but if you sign an offer/contract and win, you get the property as it is. its a buyer beware system, and you are on notice. Inquiry notice, record notice, and actual notice. But again i might be wrong. Do you have an RE agent?



Good luck getting seller to make any repairs. its a short sale. if you buy the house, you make all the repairs. no one else is gonna pay a dime. its possible, just not probable.</blockquote>


I have a agent but it seems like he is more interested in me making a offer. I'm new to home buying so I want to have a basic knowledge of my legal rights in case something goes wrong. Is there anyway I can make the offer contingent upon a inspection?



I think California laws favor the consumer.
 
[quote author="Knife Catcher" date=1238731465][quote author="LoudRoar" date=1238730932][quote author="Knife Catcher" date=1238730441]Can't I inspect the property at a later date and ask them to make the necessary repairs on whatever my inspector finds?</blockquote>


i could be wrong, so dont take my word for it, but if you sign an offer/contract and win, you get the property as it is. its a buyer beware system, and you are on notice. Inquiry notice, record notice, and actual notice. But again i might be wrong. Do you have an RE agent?



Good luck getting seller to make any repairs. its a short sale. if you buy the house, you make all the repairs. no one else is gonna pay a dime. its possible, just not probable.</blockquote>


I have a agent but it seems like he is more interested in me making a offer. I'm new to home buying so I want to have a basic knowledge of my legal rights in case something goes wrong. Is there anyway I can make the offer contingent upon a inspection?



I think California laws favor the consumer.</blockquote>
Make sure your offer has a property inspection contingency and you should be OK.
 
[quote author="Knife Catcher" date=1238731465][quote author="LoudRoar" date=1238730932][quote author="Knife Catcher" date=1238730441]Can't I inspect the property at a later date and ask them to make the necessary repairs on whatever my inspector finds?</blockquote>


i could be wrong, so dont take my word for it, but if you sign an offer/contract and win, you get the property as it is. its a buyer beware system, and you are on notice. Inquiry notice, record notice, and actual notice. But again i might be wrong. Do you have an RE agent?



Good luck getting seller to make any repairs. its a short sale. if you buy the house, you make all the repairs. no one else is gonna pay a dime. its possible, just not probable.</blockquote>


I have a agent but it seems like he is more interested in me making a offer. I'm new to home buying so I want to have a basic knowledge of my legal rights in case something goes wrong. Is there anyway I can make the offer contingent upon a inspection?



I think California laws favor the consumer.</blockquote>


Does not sound like the agent is looking out for your best interest.

They probably have not had a sale in a while and just want to push you into something so they can get paid.

If your a first time home buyer don't make an offer that you will later regret. Get a good agent... they make a world of difference.
 
[quote author="halfnote19" date=1238735742]



Does not sound like the agent is looking out for your best interest.

They probably have not had a sale in a while and just want to push you into something so they can get paid.

If your a first time home buyer don't make an offer that you will later regret. Get a good agent... they make a world of difference.</blockquote>




I'll third this recommendation.



Get a new agent, one who is interested in educating you, and will actually earn their commission.





There are a number of good ones, so if you let us know the area, we can suggest a few to consider.



and then you should "interview" them, and make sure that they are committed to making it work *for you*. you are hiring them for that purpose!
 
No.











No.









No.











As in, no, you should not make an offer on a home before you look inside the house. Are you trolling, or is this thread for real? If you are for real, get rid of your agent and contact IrvineRealtor immediately. Any agent who would allow you to make an offer on a property you have not seen the inside of, should be put in jail.
 
[quote author="cherry14" date=1238740112]Just wondering, is the property in question in Irvine or another city?</blockquote>


its on the border line of OC and LA on a golfing community.
 
[quote author="Knife Catcher" date=1238742649][quote author="cherry14" date=1238740112]Just wondering, is the property in question in Irvine or another city?</blockquote>


its on the border line of OC and LA on a golfing community.</blockquote>


Ok, never mind. I thought it might be one in Laguna Niguel. They want buyers to write offers sight unseen. Ridiculous.
 
Often on an investment property with a tenant in it an investor will write an offer and negotiate terms "subject to walkthru upon acceptance." It does keep the tenant from being bothered by people who aren't serious. I have purchased several times using those terms. But that is an investment property being purchased as such and I consider myself to be pretty experienced.



As far a a short sale or REO goes I would not recommend a buyer proceeding down that road especially if it is for their primary residence.



Unless it is a deal that is "too good to be true", and they usually are, then the agent should either get the buyer in to see the property or move on down the road to protect his client. If you are truly a qualified buyer then there are many options for you at this time.



awgee may be correct as to OP being a troll.
 
Making offers site on unseen is standard operating procedures. Have you already written your letter to the prior owners thanking them for deigning to sell to you and promising to worship their asthetic taste and maintain their vision of the property after they allow you to take possession?
 
I've personally put a number of offers on short sale homes. Lucky for me none of them materialized. Either I could never get the price down to my level or I came to my senses and backed out at the last minute.



I personally did not even bother viewing a house if it was a short sale until I had negotiations going with the bank. The short sale process is very different from regular sales. If you submit an offer, I'd be shocked if the bank got back to you before your offer expired. Most short sales take months. Every short sale I did the initial offer meant nothing. Every time we would have to submit our real offer months later after the bank had done all their leg work.



****My Best Advice****it pays to have an agent that has relationships inside the banks/loan servicers.
 
[quote author="Knife Catcher" date=1238742649][quote author="cherry14" date=1238740112]Just wondering, is the property in question in Irvine or another city?</blockquote>


its on the border line of OC and LA on a golfing community.</blockquote>


I'm guessing this is Los Alamitos, South Long Beach, or Seal Beach.





Regarding your original question, your sixth sense kicked in and you know something isn't right, so you already know this is not a house you want to make an offer on.



But your emotions are overriding it. You might think if you pass on this property that you're going to regret a good deal later, and you really want to pull the trigger just to have the whole process completed. There's already been some great advice here on this thread, and yes, your agent wants you to buy it just so he can make a commission. Walk away and find a new agent who will work for you.



Would you buy a car without test driving it? Probably not. I remember being set on buying a particular car, but then finding out once inside, it had a terrible blind spot and I hated it. I won't even buy clothes without trying them on first. A house is the biggest financial decision and purchase you will make in your entire life. So take your time, because it's a buyers market, and don't jump into something you aren't comfortable with.



Good luck
 
You must log in or register to reply here.
Back
Top