It is your personal choice. Some people like to use the listing agent because they feel they can get an inside deal. Others prefer to use a buyer's agent because they feel they get better representation by having an agent that is not connected to the seller.
In my experience, the listing agent can help you get the deal closed. However there is a very high probability that you may end up paying more than you could. Remember that his first responsibility is to the seller.
If you go with a buyer's agent, you will have the assurance that you are working with someone that is putting your interests first. He will probably be able to negotiate a better deal for you.
Whatever you do, make sure you work with an agent you feel comfortable with and that you can trust.
Jose Dias, REALTOR
Realty One Scottsdale
You can use any agent you like, just go with one who has plenty of REO buyer-side transactions under their belt. That way you can avoid many of the pitfalls of buying a foreclosed home. A good agent can save you money on the price of the home, give you the best chance of getting the one you want, and help you minimize risks (financial, emotional and long-term) throughout the transaction.
There's some info on buying a foreclosure which I put together here: http://www.yosthomes.com/Buying-a-Foreclosure-Property
One thing I'd add to this, is that many times your REO inspection period begins the day following 'verbal agreement' or 'acknowledgment' from the seller - not when you receive the executed contract. Be sure you know when yours starts and ends.
Hope this helps. Let me know if there is anything else I could do to assist.
RE/MAX Casa Grande Yost Realty
No definitely not. You want to have a buyer's Realtor that represents you and your best interests. A buyer's Realtor will typically not cost you anything as the seller with pay the commission through their Realtor. The seller's Realtor is working for the seller. You need a Realtor that is working for you and will guide you through the steps you need to take to buy a bank owned property. There are often incentives to a buyer and many banks will pay your buyer's closing costs.
Give me a call for additional information.
Always bring your own agent to the table. All good Realtors a very familiar with distressed sales so interview a few agents as you normally would and choose your Pro.
All the Best!
You may however the listing agent represent the seller or bank. I have worked several of these transactions if you would like further guidance.
Feel free to contact me direct.
I would strongly recommend not using the banks agent, the banks agent represents the bank. By selecting a Buyers agent you will have an advocate for your interests at no charge to you in most cases.
Select a buyers agent that is full time, has long term experience and also current experience dealing with purchasing bank properties. Bank properties are unique in many ways and require knowledge to navigate correctly.
The best news is that we have some well priced homes in the Phoenix market!
Arizona Homes for Sale by a Guy from Iowa