Having said this --IF the agent explains the pros and cons of the different categories of sale types (Standard, REO, Short Sales, etc) and the client/buyer still wants to be sent those listings (as long as the financing supports it) the buyer should have the option of seeing all the inventory that fits his/her buying/financing criteria.
The answers to all of your questions is YES!. This is a fantastic market for a buyer. If you want to close fast usually the foreclosure property is your best choice. You can use FHA financing to purchase your home provided that the home meets their standards. Get pre-approved with the lender of your choice to find out how much home you can afford, then contact an agent and find that perfect home. If that agent does not work out find another agent and start making offers. (make sure you are not under contact with any agent prior to working with another agent)
All the best,
Absolutely you should be presented with any opportunities in the current market that may ultimately be matches in helping you meet your housing goals. There are tremendous opportunities in REO's and short sales but you should have the process for each fully explained to you so you are set up to win. There should be no reason for an agent to discourage you from contemplating an opportunity if you feel it meets your needs.
I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
Although most listings are in the MLS, agents who specialize in bank owned properties and foreclosures may have access to what is "coming on the market" before it gets posted in the MLS. Other agents, may subscribe to that information from various sources for a fee.
Agents can search the MLS for short sales as it is required to enter "yes" or "no" at least in RMLS which is the governing MLS for 33418. Bank owned and foreclosures require more time and skill to search in the MLS.
A few years ago, short sales were very slow and foreclosures faster but as banks have more streamlined methods today can be the opposite.
Some agents may avoid this because on short sales, for example, the commission is often offered as a "split" on what the bank approves which may be much less than the regular 2.5-3% offered to a buyer's agent. Also, time... it may very well take more time to negotiate, re-negotaite, wait and hopefully -close...
You have choosen a great area!! I highly recommend Jupiter and Palm Beach Gardens (between Northlake Blvd and Donald Ross Rd.). Please let me know if I can assist in your search.
There is nothing to discourage an agent from showing the client all possibilities that meet their criteria. Keep in mind that a foreclosure is not for the feint of heart - usually gets into highest and best...a short sale is not good for a buyer with a timeline to be in the house, etc.
You just have to look at the buyers criteria and show everything that meets their needs!
Debbie Albert, PA
Keller Williams Treasure Coast