Equity Outpost - Buyer FAQ's

FAQ’s for Buyers

Does Equity Outpost confirm the competition's prices on every property?

No. It would be impossible to confirm that on every property. We look at each property prior to being activated on the site to determine (1) if it appears to be a motivated seller and worthy of posting and (2) that the seller / or agent for the seller has completed the appropriate information so a potential buyer can obtain a clear understanding of the opportunity. To confirm the strength of the seller's discount vs. the comparable competition we always would suggest speaking to the listing agent directly / or request that your agent pull a report for similar homes for listed for sale in the area to confirm.

How do I confirm the motivation of a seller on a property I am interested in?

The easiest way is to make contact with them. In the event you do not have an agent representing you, you should contact the listing agent by requesting more information regarding the competition, home, seller's level of motivation, etc. It is important that all buyers do their due diligence as we cannot guarantee the information is correct, only that it is deemed to be accurate. To protect yourself we always suggest you contact a Realtor®.

How does the "motivation meter" work?

Each agent / seller is asked a series of strategic questions at the time they upload their listing. Depending on the answers a proprietary formula calculates a finding and will dictate the level of motivation that shows. In the next few months you will see the answers to the questions and a more cosmetically descriptive reading of the meter as to provide a more informative picture of how much the seller is willing to do to get a deal done. As a buyer these questions are what you and your agent are starving to ask a seller to obtain a clear future of what to expect. I'm sure you will agree this information will save both parties time when deciding to proceed.

Can I make an offer on a property I see on Equity Outpost?

Interested parties may contact the listing agent directly using the EO platform or by calling them directly. This is always a good idea in order to inform the agent of your intent to submit an offer to purchase. You may write an offer with your agent or, if you do not have an agent, you may contact the listing agent to assist in writing one.

What should I do if I get an offer of intent?

Contact the buyer or buyer’s agent immediately. Depending on what they submit, you will need to have direct dialogue with them to answer any questions and facilitate the necessary steps to receive an executed purchase agreement.

Why is there a charge to the buyer to make an “offer of intent”?

We charge a fifty dollar ($50) fee online to the person submitting the offer of intent as an attempt

to confirm the validity of buyer’s seriousness. The last thing a Seller needs is an inundation of bogus

offers of intent being sent to them. Once we receive notification of the offer of intent, we will be

contacting the agent and the buyer to make sure contact has been made between the parties.

If a buyer doesn't want to use the offer of intent option we do encourage them to contact you directly

to discuss their potential offer.

So we can offer less than the asking price?

There are no restrictions on what an interested party may offer a seller. However, the seller may reject or counter any offer if they feel it is in their best interest to do so.

Do I have to pay Equity Outpost a finders fees if I buy one of the properties on the site?

No...Never. There are no special transaction or commission fees paid to Equity Outpost for a successful closing. That’s just one of the many great things about this site for Buyers and Sellers!