108: Rookie Reply: How to Make an Offer on a House (Even If It’s Off-Market)

This week’s question comes from Steven on the Real Estate Rookie Facebook Group . Steven is asking: I’m about to try to make an offer on a house but the property is on market, so I’m talking with the agent. When I make the offer, is there any official document I need to submit, or do I just give them the price I want to offer? Many rookies have this question, especially when trying to purchase their first rental property . You have a few options when trying to make an offer , and they will differ based on whether the property is on market, off-market, commercial, or residential. Here are some suggestions: Call the listing agent and ask if they will represent you (this is called a dual agent ) If a listing agent can’t represent you, ask if anyone on their team can You don’t need to submit any documents , just tell your agent your offer and they’ll take it from there If you’re working on an off-market deal, you may be able to negotiate directly with the seller and sign a purchase agreement For bigger properties and commercial properties, you can submit an LOI (letter of intent) If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group ! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BPCON2021 Rookie Podcast 98: Rookie Reply: Lessons Learned from Our First Real Estate Deals MLS Check the full show notes here: https://biggerpockets.com/rookie108 Learn more about your ad choices. Visit megaphone.fm/adchoices