Angel,
Well I am not going to tell you more of the same that has already been answered. Anyway to answer your question a realtor acting as a buyers agent should do their job and research the total situation. A) We look into the financials, how much did the bank pay for the foreclosure, how much did the last owner pay for the home, what is the present market value of this home. Then we begin to work backwards and determine first what to send in as an initial offer. Now first of all the commission that is listed in the MLS is already negotiated by the listing agent. So if you do not use a buyer's agent then the listing agent will get the full commission. He also represents the bank so his/her job is to get the highest price possible for the property. So why not have someone on your side trying to get you the "lowest" price possible.

If you are not already working with an agent feel free to contact me through my profile here on Trulia or one of my websites listed below.

Hope this helps,

Hi Angel,

When you are looking to purchase a home, whether it is a foreclosure, a pre-foreclosure, or an owner sale, the rewards are spread around to everyone! Yes, as a REALTOR, I receive a commission just like with anu other home. But I personally look at it as a way to meet new nice and interesting people who I will form lifelong relationships with. That is where the greater reward lies for me.

For you the buyer, the rewards are that you benefit from the experience in dealing with a seller, whether be a mortgage lender or an individual. There are different ways to approach homes from different types of sales. Having handles many successful foreclosure sales, from both the seller side and the buyer side, I can assist in making sure you get the very best deal possible with the least amount of headaches.

If you do not have an agent to work with at this time, please consider me before you speak to anyone about purchasing a specific foreclosed property. The seller will pay my fees, and you will definitely benefit from having someone experienced with foreclosures in your corner!

In my area the main bulk of forclosures are very low priced. the comissions being paid and split sometimes is about enough to buy gas and pay desk fees. The buyers are getting incredible deals. But I have met some great people who would never have been able to buy in any other market. These market conditions as bad as they are in one respect, are a blessing to some. I guess it depends on where you started. If you were high you are probably low. If you were low you have either stayed the same or you have moved up a peg or two.
I have made a few new friends thu this down time that I might not have met otherwise. These buyers are now home owners, and they will, with care, get their money back many times over when things improve. If I have done right by them, they will be back, along with their friends, and their friends.... So ultimatly it is rewarding. very rewarding!

Angel - is it financially rewarding for you or the Realtor? For the Realtor, yes, usually the income we gain from helping a buyer purchase a foreclosure covers any extra work that maybe required. Is it financially rewarding for you? Yes, usually it is, as the Realtor can assist you in determining a value for the property based on it's condition and location, and help you thru the process. Also, don't think you are going to save money by not using a Realtor, as the bank has set the commission paid out ahead of time, and if you don't use a Realtor, than the listing agent will receive all the commission, rather than splitting it with your buyer's agent. Good luck, but be sure to have a buyer's agent help you if you decide to purchase a foreclosure.