Home Buying in Tampa>Question Details

jhwells08, Renter in Palmdale, CA

Why are Realtors selling only to investors the better properties like St. Tropaz Place...

Asked by jhwells08, Palmdale, CA Thu Jan 24, 2013

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8
Liane Jamason’s answer
I agree with what the others have stated. It's not up to a Realtor to decide who buys a property - its up to the Seller. But when investors come in with all cash, no contingencies - if you were a Seller, what would you do? Accept, right? Make your offer as competitive as possible with fewer contingencies and you will be able to buy a place too.

Liane Jamason, REALTOR
Smith & Associates Real Estate
813-486-4997
2 votes Thank Flag Link Sun Jan 27, 2013
St. Tropez Place is a condo complex. since FHA has removed its' approval of all condo complexes, the only financing left is conventional with 20+ percent down payment or all cash. Investors, for the most part, pay cash and close quickly. Banks love this. Conventional lenders want ownership in development less than 50% and they want the deficiencies in HOA fees to be less than 15%. If you can get conventional financing, you will be able to outbid the investors. It just has to appraise out. This is the last reason why banks like cash. there is no appraisal required.

I hope this anwers your questions.

Bill Szydlowski
813-323-4443
2 votes Thank Flag Link Thu Jan 24, 2013
jhwells08, by licensing regulations, realtors can not sell to one group at the exclusion of another.

Most investors pay cash and frequently beat out financed offers. With property values on the rise, investors have become more selective with regard to their buying and evaluating their ultimate outcome of cash throw off. Cash gives the investor their best cash throw off as the property is unencumbered by a mortgage and other ancillary costs.

Best regards,

Lynn Brock
Brock Realty Inc.
941.313.1234
http://www.brockrealty-inc.com

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0 votes Thank Flag Link Sun Jun 9, 2013
Realtors do not sell the properties, they simply represent the owner of the property who is the actual seller.

Realtors are to present ALL offers to the seller. The seller decide which offer to open an escrow with..

In some cases investors may be more attractive than owner occupants, because they often pay cash, and are less likely to back out of the deal.


Do to loose heart. Get yourself a good buyers agent and stay engaged in the process. You will be in your new home before you know it.


Much Success to Yo.

Best Regards,
Kawain Payne, Realtor
0 votes Thank Flag Link Thu Feb 14, 2013
Unless you can pay ALL CASH and offer well above recent comparable sales you will have difficulty buying almost any property in Tampa Bay under $200k. Some sales are restricted to owner-occupant buyers only so you may want to wait until one of those Fannie Mae, Freddie Mac or HUD owned properties come on the market. Even on those we're finding a lot of all cash owner occupant buyers.

Good luck!

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
http://www.SoldOnTampa.com
0 votes Thank Flag Link Fri Jan 25, 2013
I as a Realtor sell mostly to owner occupants. Recently major hedge fund investor have come into the market and are buying up almost anything they can get there hands on. The will be holding the properties for about 5 years and during that time renting them out. So as a Realtor I work mostly as a buyers agent to help my buyers find either their primary resident or an investment. As along as my buyer is loyal to me and has been preappoved for a mortgage or is paying cash with a proof of funds I will will work with any buyer. The sellers may be excepting more investor offers because as others stated below they can pay cash and close quick so there is less risk to the seller. Also like Bill said if it is a condo (which the big hedge fund investor I know of isn't really focused on condos but single family homes) You can only do coventional financing or cash and even conventional financing may have issues with the rental percentages of the complex and if the condo fees and or esrow accounts are low. Also with condos you can have special assesments that could be in in the thousands of dollars that the new owner would have to consider. If you need any assistance in purchasing a condo or anyother type of property feel free to call or email us anytime. Natasha McCormick/Team RN with Century 21 List with Beggins, 8136107884 email TeamRN2@gmail.com.
0 votes Thank Flag Link Fri Jan 25, 2013
Bill 'nailed it!"
Often investor are preferred because:
1. they are decisive
2. do not require financing
3. contingency free
4. quick close

If a citizen can compete with similar criteria. let you real estate agent know. You WILL be able to get into the game.

Many agents share in network of inventory called 'FIRST LOOK" that allows SERIOUS, QUALIFIED buyers the opportunity to purchase real estate before it is published. You bet, the good stuff is gone before you will EVER see it on Trulia. If you are a real buyer, connect with a "FIRST LOOK' agent.

However, by the time most end user buyer make up their mind regarding making a purchase offer only vapors remain. If you are ready to buy, you know what to do, pick up the phone and connect with an agent.
No, don't use that 'contact' button.
No, don't use Trulia email.
Call, but only if you are serious.

Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Fri Jan 25, 2013
Hi,

Realtors are selling to anyone who wants to make a reasonable offer on the property.

There are many investors buying properties to hold for the long term, and they are collecting rent for the time in between. The sales prices for condos have gone up over the last few years, and these condos make a good investment.

If you would like to purchase something in S. Florida, please contact me directly.

Nadine Mauro
Highlight Realty
561-414-0864
NadineSellsHouses@gmail.com
0 votes Thank Flag Link Thu Jan 24, 2013
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