Looking for an agent to walk through the foreclosure buying process
First time homebuyers, and we're looking at foreclosure properties. We're aware of the risks and upside and think we are ready for it; we've done our homework (or so I think). I definitely think we need an agent to help walk us through and be our advocate, especially as we are now preapproved and are starting to identify properties we are interested in. I just don't know where to get a good referral. Is geography important, as in, the agent's location? We haven't got any close friends or family who are able to refer anyone, so we're going at it cold. And we haven't been hearing from the websites usually referred to from here, so we'd like to venture out and find someone. But there's a lot of choice, and I'm not sure what I ought to be looking for in an agent for this kind of situation.
Tue Jun 24 2008, 08:25 - Brooklyn - Home Buying - 3 answers
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BEST ANSWER
Yeah, maybe it seems unlikely - but we're the first of our friends to start looking for a house, and our family isn't in the area, so we're pretty much starting from scratch. Good idea about our attorney, except that we've steered clear of them, too. If I was just going to look at a list compiled from Google Maps, for example, and then checking out agent's websites that I find there, what should I look for? What's a sign that I should put them on my 'call and ask' list, as opposed to my 'don't bother' list?
Wed Jun 25 2008, 07:29
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Now I've heard it all. You do not have any friendor family memeber that can refer you a realtor. Just some realtor humor for you lol. it's just that the other day I got pulled over & the officer asked me to see my real estate license. I replied, don't you mean driver's license. The office replied, No, not everyone has a driver's license. Hahaha. Back to your question, you may want to ask your attorney or accountant for a good buyer's agent who specialized in forclosures. If you are working with a Mortgage professional already they may have some friends in the business.
Tue Jun 24 2008, 20:37
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FIRST ANSWER
Wow, this is a tough one Afs. Only because you are right -you need an expert really to buy a foreclosure. There are lists avialable - free from the government, of FHA approved brokers, I placed the link below. This is the official government HUD/FHA site, these are real foreclosures that are bought on a bidding process, specifically for first time homebuyers, these are also approved for special financing like 3-5 % down. Hope this helps.
Tue Jun 24 2008, 08:50 Web Reference: http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?&webList...
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