Learn what do to as a real estate agent, or buyer, when it comes to submitting an offer on a multi-family property.
So you are an agent or a buyer looking to submit an offer on multi family property what do you do.
Eric take it away…so you’re a buyer or an agent coming into the market you’re going to write an offer on say one of our properties or somebody else’s properties.
Every single apartment offer needs to be subject to interior inspection.
Guys don’t call us don’t call up any commercial agent and say hey can I see the inside.
It’s not going to happen.
Offer subject to interior inspection first and foremost right there and then and I’m going to tell you another thing.
We’ve seen a lot recently is people trying to offer 50% of of the listing price.
It’s not going to happen.
Tell your clients on the front end it’s not going to happen. Don’t waste your time. Don’t waste our time.
The way that these properties are moving the velocity of them they don’t stay active very long we’re we’re in a very competitive market.
There’s tons of people looking to come into the Bakersfield market so I always tell everybody put your best foot forward and submit the offer that your client is going to purchase the building at.
A lot of the times we’re not even countering offers.
The owners either take that as an insult or they think the buyer’s not real because they came in at such a ridiculous price or ridiculous terms so put your best offer forward first it it’ll just save you time and energy in the long run.
Trying to negotiate? I know everybody wants to try to get a deal on these properties and I’m here to tell you you’re not going to get a deal.
You’re either playing playing the sellers game or you’re not playing the sellers game.
There’s very little reason for these guys to sell in exchange there’s not too many options out there so they’re pretty strict on these prices and that’s what we’ve been experiencing.
So once again if you guys are submitting an offer in the Bakersfield market on multi family make sure you’re putting your best foot forward submit the offer your client’s willing to pay.
Don’t come in expecting that you’re going to be able to negotiate very many things and subject to interior inspection because you’re not going to get inside.
All right guys if you have any questions or you have problems submitting offers or you’ve been working with a client and your offers haven’t been getting accepted and you just want some advice on you know why that might be reach out to us, send us a DM.
I’m more than happy to kind of help you through it and and see if I can I can help you guys get your offers accepted.
