2007-07-01 15:23:55 · 7 answers · asked by chulis 1 in Business & Finance ➔ Renting & Real Estate
Yes you can buy houses without an Agent, you can also do taxes without the help of an accountant, and you can even represent yourself in most courts without an attorney.
But why would you want to? and when you approach the listing agent yourself unrepresented as recommended above, your not going to be saving the seller any commission in most cases, it just means that the listing agent will get a FULL commission instead of having to split the commission with your Agent, and whose best interest is the listing agent looking out for? The seller of course.
So my advice is, use an agent! and if your in a state that allows Buyer Rebates, then look for an agent that will be willing to split his or her commission with you. I work in Florida and have Buyer Rebate programs available for my customers if they request them.
Hope this helps
SELL2K
2007-07-01 23:40:00 · answer #1 · answered by SELL2K_com 3 · 0⤊ 0⤋
It depends on what sort of foreclosure you are looking at. HUD homes are government forclosures and require an agent to submit a bid for you. However if you are looking at a bank owned property or something, it depends on how the bank handles the transaction. Some banks handle it in an auction format, some banks list it with a real estate agent. Due to the fact that Realtors have somewhat of a monopoly on the real estate market, sometimes you wont be able to buy a property from a listing agent just because they discriminate against non-agents.
If you have to work with another agent the best thing you can do is get a decent knowledge of the real estate market, act like you know what your doing and approach the selling agent. Ask them what the procedure is for submitting offers, ect.
I Hate Real Estate Agents! Contact me with questions.
2007-07-01 15:35:12 · answer #2 · answered by itsmetibbs 2 · 0⤊ 0⤋
Although they dont lie, take what they said and add this. Here is the best way and listen closely. Target a bank, preferably your bank. The one you use for all your transactions. Buy some stock (Only one is needed. Yes I said ONE STOCK) Now your a stockholder. Go to vistaprint.com and get some free business cards that say your a REO Liquidator. (Put that under your name as your title). Go to onebox.com and get a toll free number to be official and link it to your cell. Make sure you program your onebox for 9-5pm m-f. Go to godaddy.com and buy a website name for $3.99. If your name is Jane Doe your email address is JDoe@mrsreo.com. (Something catchy with reo in it. Official bizcard in hand and a stockholder they are required to give you the REO list. Banks trust different people with this list so call ahead of time to find out THAT persons name and when they work, are off, and take lunch. Might want to take them to lunch. Hey $20 lunch go far. They dont have to now, remember, there is always someone trying NOT to help you. Be nice, polite, and patient. Although not required, in case they ask for WHO is going to be purchasing have your current credit report (680 or higher is best for a good interest rate) Have some assets ($10K - $20K is better) but not really really needed. Have nothing on your credit report thats 30, 60, or 90 days behind in the last year, and any credit cards on your file ( 2-3 is nice) make sure you dont owe OVER 50% of your credit limit. One extra step if you want to write things off for tax purposes. GO to corporate.com and start a company. i.e. MrsREO Inc. (Jane Doe CEO of Mrs REO Inc and MrsREO.com, jdoe@mrsreo.com and toll free at etc etc. Follow me?) Good Luck...Now all you have to do is buy one stock in citi, boa, wamu, etc etc go go go gooo! Get rich...become a flipper. the world is yours..Nah it will take some time for your confidence to grow but you will get it..
2007-07-09 14:58:41 · answer #3 · answered by sircarpediem 3 · 0⤊ 0⤋
im a licensed real estate broker, lucky me. so when it was our time to buy a property,i already knew that buying foreclosed ones are much much of a betr deal than buying a new one..on ur case,u can simply ask d bank nearest you for a copy of their foreclosed properties..also ask the govt that handles foreclosed prop.u know what?sumtyms if ul ask directly from any of these banks n govt agencies,u might be able to get the commission thru discounted price.jaz ask them if they do give commissions for referrals first,n then if they do..ul be asked to sign a referral form.jaz use any one who u trust hul get the comm.or if possible, get it urself.gudluck..happy hunting
2007-07-08 06:33:39 · answer #4 · answered by cindy blue 1 · 0⤊ 0⤋
AM a real estate investor and i have wholesaled a dozen and it not easy but its nice to look at the money in the bank.
2007-07-07 23:51:41 · answer #5 · answered by endgame1915 3 · 0⤊ 0⤋
If you know what you are doing it is OK but you better start with an agent. Do you want to loose everything? that is the risk.pp
2007-07-01 15:36:17 · answer #6 · answered by ttpawpaw 7 · 0⤊ 0⤋
Try http://flippersonline.biz has some free information for you. Hope it helps.
2007-07-09 05:04:41 · answer #7 · answered by Anonymous · 0⤊ 0⤋