OfflineNot that I have a buuch of time behind me doing this, but I saw something this week I had not noticed before. In the description of a real estate listing on a web site, they stated this home was in "pre-foreclosure." My question is who might have listed the home...the bank or the owner? I looked up the property in the county records and there has been no change of ownership and it certainly does not show a bank as owner. Is this a common practice and would it be a good time or even legal??? to contact the owner?
(After I sent this I had one of those V-8 moments.) The bank doesn't own it yet so they could not have listed it. Obviously the owner is trying to sell the home via an agent before foreclose hits so there is a contract and fees. I guess I could call the owner, but now that it is listed, that would not do much for me.) Correct??
The seller pays the agents commission. Make your offer lowered by amount of fees.
jrgnsn
jrgnsn
The seller pays the agents commission. Make your offer lowered by amount of fees.
jrgnsn
jrgnsn
It's common practice now when the property is in preforeclosure for the owner to TRY and get it sold before auction. The property does belong to the owner until the day before auction to do with it what they want (within reason, of course). They will list it with an agent. I would suggest that you always have your own buyers agent to work with and be in your corner. If the owner is upside down, meaning they owe more than the comps, go in for a short sale.
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