Using Bulk Offers on Federa
How to use Bulk Offers on Federa
The world of real estate investing can be a competitive landscape. Being able to make multiple offers simultaneously can give you the edge over other buyers. That’s where Federa's Bulk Offers feature comes in. The Bulk Offers feature lets you select multiple properties and submit offers for all of them at once. This powerful tool can save you time and give you a better chance of securing a property in a competitive market. In this article, we will walk you through how to use the Bulk Offers feature on Federa.
Why Use Bulk Offers?
Using the Bulk Offers feature can give you several advantages:
- Competitive Advantage: Multiple offers increase your chances of securing a property.
- Maximize Reach: In markets with limited inventory, Bulk Offers help you cover more ground and secure the ideal property.
- Negotiate Stronger: Multiple offers fortify your negotiating stance, enabling more favorable terms.
- Save Time: Expedite the home-finding process by boosting the number of offers you make.
- Diverse Options: You can explore different properties simultaneously.
- Smarter Investments: Real estate investors can diversify their portfolio and increase opportunities with multiple simultaneous offers.
- Flexible Pricing: Negotiate diverse purchase prices based on each property's unique appeal.
Accessing Bulk Offers
To access the Bulk Offers feature:
Sign Up or Sign In to Federa
Click here to either Sign In or Sign Up. If you already have an account, proceed with signing in. If you're new to Federa, select "Sign Up" and simply follow the instructions to establish a new account.
Go to your Account menu
- Navigate to the menu on the left-hand side of your screen.
- Select "Account".
- In the Account page, click on "Bulk Offers".
Adding Properties
To add properties to your Bulk Offers:
1. Click on "Add Properties"
2. Click the search icon to use various filters to search for properties. One of the filters is "Full Address" (zip code, address, state, city). Once done click "Search".
3. Select the properties you're interested in. Once done click "Create Bulk Offers".
4. A disclaimer will appear. Click "Yes" to continue and create draft offers for your chosen properties.
Adjusting Your Bulk Offers
Update Individually
You can update most fields individually, instead of using the “Bulk Adjustments” function.
Bulk Adjustments
Make adjustments to all of your bulk offers by clicking on the "Bulk Adjustments" button. Fill in the following fields:
- Transaction ID: This dropdown field allows you to link your offer to a specific transaction. If you can't find a suitable transaction ID, you can create a new one.
- Discount from List: Here you can specify a discount from the list price of the property. For example, if a property is listed for $100,000 and you want to offer 5% less, you would enter 5 in this field. The system will calculate your offer price as $95,000.
- Offer Amount: Here you to state the total amount you're offering for the property. This field is independent of the "Discount from List" field. It allows you to set a specific offer amount regardless of the list price.
- Deposit as Percent of Offer: This field lets you set a deposit as a percentage of the offer. This is the amount you are willing to put down upfront to secure the property once the offer is accepted.
- Deposit: Conversely, if you prefer to specify a deposit amount instead of a percentage, you can input the specific cash amount you'll put down if the seller accepts your offer.
- Financing: Here, select your financing option. You can select either “Cash” or “Pre-Approved Mortgage”, depending on your financial arrangement.
- Days to Close: Here, you can input the number of days you intend to close the transaction by. This can demonstrate your readiness to proceed with the deal.
- Days to Cancel: This field allows you to specify the number of days within which you can cancel the offer. This is an important part of your offer, as it gives you a specified amount of time to back out if you find something unsatisfactory.
- Title Company: Use this dropdown menu to select your preferred title company. The chosen company will manage the legal paperwork of transferring ownership of the property from the seller to you.
- Deposit Held By: Here you select the entity that will hold the deposit in an escrow account until the transaction is finalized. This could be the title company, a lawyer, or a real estate broker.
Remember, you need to fill in all these fields before you can submit your bulk offers. Be sure to review them carefully to ensure all the information is accurate.
Reviewing and Submitting Your Offers
It's time to submit your offers:
- If the status is "Missing information", fill in the missing fields and click the “save” icon before submitting.
- If the bulk offers status is "Ready to send", select the bulk offers you want to submit and click "Submit Offers".
- Click “Yes” on the disclosure pop-up to confirm the submission of your bulk offers.
Accessing and Managing an Offer
After you have successfully submitted your offers, you can view and manage them by going to the "Offers" tab and selecting the offer you want to manage
Once the offer has been submitted, the counterparty will receive a notification. They will have the option to either Accept, Counter, Decline, or Void the offer. After they have chosen an action, you will receive a notification and can respond accordingly from the "Offers" page. For instance, if the counterparty has chosen to counter the offer, you now have the option to "Accept, Counter, Decline, Void, or Amend" in response.
That's it! Convenient and efficient.
With the Bulk Offers feature on Federa, you can expedite your property acquisition process, negotiate better terms, and secure profitable opportunities. Whether you're a seasoned investor or a first-time homebuyer, this feature provides a convenient way to manage and submit multiple offers.
FAQ
How do I know if my offer was sent?
Once an offer has been submitted, it is classified as "Open" and can be accessed and managed on the "Offers" page.
Can I select all the bulk offers at once?
Yes, use the "Submit Offers" button at the top of the page to submit all the bulk offers at once.
How do I save a change on a bulk offer?
Once you make an edit to an offer, click the save button at the top of the list.
What is a Bulk Offer Limit?
Each user is assigned a limit on the number of offers they can send to prevent abuse of the platform. Your limit can be seen at the top right corner of the Bulk Offers page.
How can I increase my Bulk Offer Limit?
Contact a Success Manager, send an email to Support@federa.com, or create a ticket through our Knowledge Base. Be sure to include reasons for your request.
Is the Bulk Offers feature available on mobile?
Yes, the Bulk Offers feature is available on mobile, but it's best experienced on a desktop.
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