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Tracey, Home Buyer in Wausau, WI

do you need a realiter to make an offer to banks?

Asked by Tracey, Wausau, WI Sat Jan 17, 2009

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Tracey If you do not have your own agent one will be appointed for you. The Realtor® that will be appointed will normally be the agent representing the best interests of the bank! If you are comfortable with that you do not need your own Realtor® to represent you and your best interests.
0 votes Thank Flag Link Sun Jan 18, 2009
Tracey,

If I understand your question correctly..........

Banks do not deal directly with the public on their foreclosures. They contract the services of a real estate professional to act in their behalf.

If you make the offer directly to the individual representing the bank, where do you think that leaves you. Who is taking care of your interests? ANSWER...The same person that the bank contracted to list the property.

Good luck
0 votes Thank Flag Link Sat Jan 17, 2009
Unless you have years of experience, I wouldn't rcoommend it. You have nothing to lose by using an experienced agent. The seller will pay the commission and you reap all the benefits.
0 votes Thank Flag Link Sat Jan 17, 2009
RULE TO THUMB in real estate: Never purchase a home from any seller /bank /listing agent /builder UNLESS you have your own buyers agent. Therefore they protect you ,provide accurate numbers value of home, represent you thru close.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Jan 17, 2009
My experience has been that you will need a Realtor to make an offer, because the banks will hire a Realtor to list the home or will hire an asset management company who will hire a Realtor to market the home. Your best bet is to find a Buyer Agent who can work on your behalf to make an offer for you.
Web Reference: http://www.VassiSaviano.com
0 votes Thank Flag Link Sat Jan 17, 2009
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