Foreclosures and Real Estate Agents - Posted by Roger

Posted by edward dieguez on November 18, 2001 at 18:28:25:

looking to purchase property immediately.

Foreclosures and Real Estate Agents - Posted by Roger

Posted by Roger on October 09, 2000 at 08:43:08:


I’m looking to invest in foreclosures in my town and came across a real estate agent in the paper that is a “foreclosure REO specialist”. My question is, is there any advantage by going through an Agent vs. somehow finding the distressed propety’s in my area by myself? She’s provided me a list and she showed me two of them, one of which looked like an incredible deal but already sold. I’m assuming she got this list from the courthouse public records section. If I bid on the property w/o the agent’s help, do I save on a commission? Would I have to bid on the property at the courhouse steps if I don’t use an agent?


Re: Foreclosures and Real Estate Agents - Posted by Rob FL

Posted by Rob FL on October 10, 2000 at 10:11:08:

REO’s are ones that the lender has already reposessed. Most banks now-a-days list directly with brokers. All HUD and VA houses are sold through brokers. The list you saw was probably the list from HUD and VA or something out of the Multiple Listing Service, not from the courthouse.

Courthouse auctions don’t involve brokers or commissions but normally require all cash within a short period of time after the auction.