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I am about to make an offer to buy a home. There is no real estate agent involved, the home is for sale by the owner. I am wondering if it would be proper etiquette to let him know over the phone what I intend to offer then, if it is ok with the buyer, to go ahead and put it in writing.

thanks.

6 Thoughts on Verbal home offer before written?
  1. Reply
    SM
    November 12, 2011 at 4:41 pm

    Of course it’s acceptable, but you should still put it in writing and send it to him…….even if he says no.

  2. Reply
    Glennroid
    November 12, 2011 at 4:51 pm

    Your verbal offer means nothing. If it’s not in writing, it’s not an offer in real estate.

    You’re probably just trying to be polite, but this is a business proposition, nothing more. Put the offer in writing and then you can negotiate.

  3. Reply
    Ross
    November 12, 2011 at 5:26 pm

    Put it in writing and list all your contingencies. Price is not the only point you should be negotiating, what about if the inspection or appraisal go bad, what happens if you can’t get financed or the bank won’t finance that particularly home, what if something comes up when you check the deed, etc. Make sure you each have a copy signed by both sides. This way there will be no misunderstandings. I would even involve an attorney if you are not using an agent. This is a big invest and you should take more seriously than just a hello and a phone call. This is not about proper etiquette buy taking care of yourself and your family.

  4. Reply
    Amanda B
    November 12, 2011 at 5:39 pm

    You can tell them verbally and make negotiations that way but once both of you have agreed then give it to them in writing ASAP. Also, even though you do not have a buyers agent, it would be good idea, it will not cost you anything. I have noticed that offer to purchase contracts have gotten very specific and you could easily get screwed because of a date or you didn’t check a box. I have seen this a lot at our office (real estate office, I’m a coordinator) and I feel really bad for these buyers that missed getting an appraisal or inspection and the offer falls through and they can potentially lose the earnst money. That sucks. If you choose not to get an agent, at least have a RE attorney look over it and make sure everything is good and read, read, read that contract so you know what to do. Hope this helps. Mander B.

  5. Reply
    donfletcheryh
    November 12, 2011 at 6:25 pm

    It is bad policy to make an incomplete offer, a verbal offer. Verbal contracts recorded and witnessed can be enforced against you.

    What an incomplete offer involves is describing a price without a complete description of the property changing hands, with no caveats, or conditions that may be implicit in a formal offer.

    If you will be using a standard offer to purchase form with no changes, you have cut out a lot of areas of disagreement. But knowing that the person selling to you can deliver a clear title, free of liens, etc. and on a specific date. all has to be nailed down.

    You should prefer to do your negotiations in the presence of your attorney or in Quebec. le Notaire Publique.

  6. Reply
    N
    November 12, 2011 at 6:35 pm

    Personally, I wouldn’t go into an offer verbally… just get the owner’s fax number and fax over your offer. Written offers carry more weight than verbal and makes you look more serious. If the owner wants details verbally when you ask for the fax number, just say that you prefer to submit it in written form to make sure that everything is complete…

    http://reitoolreviews.shoutpost.com

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