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Making on Offer- Investment Property
Making on Offer- Investment Property

How a buyer can make and offer on an investment property

Updated over 2 months ago

Step 1: Viewing Property Details from the Search Map

  1. Tap on a Property: From the search results on the map, tap on a property listing to view more details.

  2. View Photos and Virtual Tour: Browse through the property photos. If available, a virtual tour video may also be included.

  3. Review the Asking Price: Check the asking price for the property, visible on this screen.

Step 2: Exploring Further Property Details

  1. Tap to Explore Further: Tap on the property again to access more detailed information.

  2. Save the Property: If you want to save this property for future reference, tap the "Save" button.

  3. Request a Tour: To request a tour, refer to the video tutorial available in the help center.

  4. Make an Offer: You can make an offer on the property by tapping the "Make Offer" button.

Step 3: Reviewing Key Investment Property Details

  1. View Key Investment Details: For investment properties, you’ll first see essential information such as:

    • Property Status

    • NOI (Net Operating Income)

    • Gross Income

    • Types of Financing Accepted

Step 4: Checking Recent Comparables

  1. Tap on "View Recent Sold Comparables": Check similar properties that have sold in the area by selecting this option.

Step 5: Exploring Additional Property Information

  1. Scroll for More Info: Continue scrolling to find further information about the property.

  2. Tap "See More Details": Access specifics about the interior, exterior, utilities, and more.

  3. View the Property Description: Scroll to the property description and income and expense details.

Step 6: Viewing Property Condition and Renovations

  1. Tap "See More Details": In the property condition section, view any renovations the seller has completed by selecting this option.

Step 7: Reviewing Financing Information

  1. Tap "See More Details": Check information about any existing loans or loan assumptions if applicable.

Step 8: Viewing Uploaded Documents

  1. Check for Uploaded Documents: Scroll to the documents section to see any appraisals, surveys, or additional files uploaded by the seller.

Step 9: Making an Offer

  1. Tap "Make Offer": After reviewing the property details, tap "Make Offer" to begin submitting your offer.

  2. Review Property Info: You’ll still have access to the property’s address, photos, asking price, gross income, net income, and cap rate while making your offer.

Step 10: Inputting Offer Details

  1. Enter Offer Price and Earnest Money: Input your offer price and earnest money deposit.

  2. Investor Disclosure: Indicate whether you are an investor.

  3. Verify Contact Information: Your contact details (name, phone number, email) will be pre-filled if you are logged in—double-check for accuracy.

    • Note: if you contact information is incorrect or outdated, you will need to edit your profile to make any updates before putting in the offer.

  4. Choose Financing Type: Select the type of financing accepted by the seller.

  5. Indicate Entity Purchase: If buying through an entity such as an LLC or corporation, indicate that here.

  6. Select Closing Date: Choose a closing date, typically 45 to 60 days, based on your financing and due diligence.

Step 11: Setting Contingencies and Seller Credits

  1. List Contingencies: Add any contingencies, such as inspections, appraisals, or financing, or skip if not needed.

  2. Request Seller Credits (Optional): Enter any requested seller credits in the designated section.

Step 12: Adding Remarks and Uploading Documents

  1. Add Remarks: Enter notes for the seller, such as "We love the property and are pre-approved, so we hope to close quickly."

  2. Upload Proof of Funds: Tap "Upload" to add proof of funds from your device or by taking a new photo.

Step 13: Submitting or Saving the Offer

  1. Review Terms and Conditions: After reviewing the terms and conditions, check them off.

  2. Submit Offer: Tap "Submit" to send your offer to the seller. If not ready, you can save it under the “Offers Made” tab, where it will appear in the “Draft Offers” section for further editing.

Step 14: Editing and Resubmitting Offers

  1. Edit Draft Offers: To make changes to a draft offer, tap the edit button, make your updates, and resubmit the offer.

  2. Track Offers: Once submitted, track your offer under “Offers Made,” where it will show as “Pending Seller Response.”

Step 15: Withdrawing or Modifying Offers

  1. Withdraw an Offer: If you need to withdraw your offer, tap "View" on the offer and scroll to the bottom to find the "Withdraw" button.

Step 16: Managing Seller Responses

  1. Seller Response: The seller will either accept, reject, or counter your offer. The status will update accordingly.

  2. Counteroffer: If a counteroffer is made, you can either accept or reject it.

  3. Accepted Offer: If accepted, you’re now under contract, and the offer becomes binding.

  4. Rejected Offer: If rejected, you can submit a new offer or negotiate further.

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