How do realtors get paid when assisting buyers in court house auctions?

Asked by Mac, Suwanee, GA Fri Jun 18, 2010

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8
Emelia Sanch…, , Ontario, CA
Fri Jun 18, 2010
Mac, purchasing at a court house auction is a lot of work, you need to really do your homework because there are no inspections. you need to make sure which lien holder is foreclosing and what types of liens are on the property that if you were the winning bidder needed to be cured. Court house sales are cash. If you obtain the services of realtor make sure they have done this before.
1 vote
Alex Rodrigu…, Agent,
Fri Jun 18, 2010
There has to be an agreement between the Buyer and Agent
1 vote
Andrea Solom…, Agent, Stone Mountain, GA
Mon Jun 11, 2012
Mac, I must informed you that buying a home at the the court house step is not a simple process. It has its rewards but it also has its woes also. I have done it for myself and it involves a lot of preparation. You MUST do a title search because not all leins ( mechanics and in some cases HOA, make sure you are bidding on the first and not the second mortgage, IRS leins require additonal paper work after the foreclosure etc) will fall off, there is no prior inspections and some homeowners/tenants are very savy and may use the system to stay in the property for much longer that you would want them to. When the attorney collects your money it is over. Good luck, I just want you to be very careful. I have had good luck and also bad luck.
0 votes
James Dudley, Agent, Suwanee, GA
Fri Jun 18, 2010
Mac,

These terms would be laid out in a buyer's brokerage agreement between you and your agent.

Any good agent will have this document signed and in place before working wtih a buyer in today's market. This document establishes trust and a solid working relationship between the two parties.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Jun 18, 2010
You will need to negotiate a commission with your agent beforehand--the buyer pays.
0 votes
Aaron Mtuanwi, Agent, Conyers, GA
Fri Jun 18, 2010
Most times, it is always better to go for a Flat Fee during the negotiation between buyer and Realtor.
0 votes
Mark Lackey, Agent, Norcross, GA
Fri Jun 18, 2010
By the buyer based on a renegotiated Buyers Brokerage Agreement.

Mark Lackey
Atlanta Housing Source at
Solid Source Realty, Inc.
Associate Broker
EcoBroker
404-886-8789

Services
Home Buyers & Sellers - http://www.AtlantaHousingSource.com
Property Management – http://www.SolidSourcePM.com
0 votes
Sue Smith, Agent, Buford, GA
Fri Jun 18, 2010
The realtor and buyer would negotiate the fee for this type of transaction prior to auction. A buyer cannot be too cautious when making this type of purchase and a realtor can supply the expertise needed to navigate the muddy waters.
0 votes
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