Foreclosure in Potrero Hill>Question Details

jspy777, Home Buyer in San Francisco, CA

I am interested in Foreclosures. Do I contact a Real Estate Agent or a Broker?

Asked by jspy777, San Francisco, CA Mon Sep 3, 2012

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Peter T. Chin’s answer
It really doesn't matter if it's a Real Estate Agent or Broker.

What matters is whether that person has the experience and or know how to help you navigate foreclosures which includes many agents and brokers.

A word of caution about foreclosures: Many foreclosures are in disrepair and need a lot of work; it's best to work with a broker who knows about construction work.

My broker and myself have experience in construction and real estate management; the broker is a licensed contractor and used to build or repair homes; I used to manage and repair multi family properties in san francisco.

I wish you the best of luck in getting a home that you are comfortable with.

Peter T. Chin Realtor #01866332
415-863-7500 office
1 vote Thank Flag Link Wed Sep 5, 2012
Either one will be able to help you. The best thing to do is ask the agent/broker on their experience with foreclosures. If they don't have experience working with foreclosures it would be more beneficial for you to find an agent/broker who does have that experience. There is a lot to look out for when purchasing a foreclosure and that agent needs to be able to know how to look for that and have the right contacts to help you when even doing your inspections prior to purchasing.
0 votes Thank Flag Link Thu Mar 20, 2014
A real estate agent can help you find the home you want and make the process simple for you. I can recommend one in your area. When you need a mortgage, call or email for a free pre-approval and free credit report.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
NMLS# 948036
0 votes Thank Flag Link Sat Oct 26, 2013
A broker is an agent who has taken the time to complete additional schooling and put in a min, number of years and then passed the Broker test. You should look for a local agent who is WELL experienced with listing and selling bank owned homes to help.
0 votes Thank Flag Link Fri Aug 2, 2013
What state? I have hundreds of properties to buy as REO's or Non performing loans in foreclosure. Give me a call and we can talk about your needs as an investor or agent.

Rodolfo de Hoyos
Agent/Investor/Asset Manager
HomeSolutions.SC LLC
0 votes Thank Flag Link Fri Aug 2, 2013
Hi JSPY777,
A broker or agent can provide quite a bit of assistance with buying a foreclosure. Banks are especially picky with the process and can reject offers for the most sensitive of errors. A lot of the REO and Short Sales sales move through the sales process using the Equator program which is for agents and brokers to use. Also, you want a broker or agent who has access to the lenders who hold the properties.

I'm a short sale/reo specialist and I have access to the equator process and to the lenders through a special program for elite brokers in the industry. I also provide a 50% rebate of any fees that I receive from the bank.

Let me know if you're interested in speaking. Best of luck and happy house hunting!
Teresa Grobecker
0 votes Thank Flag Link Fri Sep 28, 2012
Hello JSPY777,

Working with a Real Estate Agent or a Broker does not make a difference. The Broker hires a Real Estate Agent and gives him all the same powers that he has as a Real Estate Broker. You want to find some one who has been working in the current real-estate market and has lots of experience. When purchasing a foreclosures there are allot of papers that need to be explained and inspections done on the house to fully understand what you are buying. Because all of these homes in foreclosure are going to need some kind of repair. You should also work with some one who has been around construction sights and understand how to rehabilitate a home.

My broker and I have been involved in helping our clients purchase short sales, bank owned homes and foreclosures. Also we have been involved in several rehabilitation of homes in Marin and San Francisco counties.

You can reach me for further information:

Arshak 415 871 6022 and
0 votes Thank Flag Link Thu Sep 6, 2012

I have experienced with many foreclosure/reo/short sale properties. I can help you out what you are looking for. Please contact me at 415 420 3526.
0 votes Thank Flag Link Tue Sep 4, 2012

You should work with the person that will be able to work diligently to meet your goals. Our market is not inundated with distressed sales as other areas of the state. As such SF does not have a large number of foreclosures. What type of property are you looking for-SFH, Condo, Multi family?
There are currently 2 TIC units for sale in Potrero Hill that are foreclosures.

Web Reference:
0 votes Thank Flag Link Mon Sep 3, 2012
Hi Julie

Beware of RealtyTrac foreclosure ads or any listings that do not display MLS ID numbers. I'll be happy to provide more info when you are ready.

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference:
0 votes Thank Flag Link Mon Sep 3, 2012
Hi jspy777,
Either an agent or a Broker but select the one to work with that has a lot of experience with the foreclosure process as it is different from a normal sale.

I suggest that you interview a few agent/Brokers to determine their market experience and then choose the one who knows the foreclosure market well, is readily available during your time frames, and who you feel most comfortable with.

Good luck to you!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Mon Sep 3, 2012
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