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I understand with an all cash buyer they can be easy, I thought the problems arise with someone trying to finance, which I assume the OP will?
Ty for the correction on fees.
I haven't had any issues getting them financed. The banks have done the FHA/VA required repairs for my clients out here if the appraiser calls something out. Maybe that isn't true for other areas.
They are also more work than a traditional sale.
If you don't have a large downpayment, competing with cash buyers can be difficult.
I've never found that to be the case. Every FC I've purchased or sold was fairly simple. If anything, negotiations were easier since it's a bank and not a home owner.
To the OP, in the end you have to think about what is best for you. Your agent may be fantastic but if she can't overcome disdain for another agent (we've all been there) then she is not really serving your interests.
Think about it like this, you go to the same mechanic for years with the same car. You buy a new car and the mechanic tells you he hates working on these cars. They are a PITA and he hates the color that you chose. Do you buy a different car or do you go to another mechanic?
When you sign the Broker Representation agreement with a Realtor you are basicly hiring them and their brokerage to act as a consultant to work FOR you. If you do not feel she is doing her best for you, then you can FIRE her by giving her broker notice. Sometimes personalities do not mesh between realtor and client and it's better to move on. Yes The more hours a realtor takes to get you to a closing the less they make per hour, so the less time she spends getting you to the closing table the more she makes. Working with a client who wants to buy a forclosure is the least profitable transaction a realtor can have. That being said, you can if you choose pay her an additional bonus or tip if you choose when you go to closing. So people may think well, shes already getting a commission. I have found, that there is nothing wrong with tipping any service provider for good service. As a realtor she also has the right to choose wether to work with you or not, IF she is offering good advice on offer prices for a property and you consistantly low ball the price to the point where your offers are allways rejected, the she should fire YOU as a client and move on to a more reasonable client. We are purchasing our first forclosure, and plan on tipping our realtor even though we have had a few minor issues, he has provided good service and we will use him again.
Thanks for the advice. I'm open to all types of sales, not just foreclosures.
I've never found that to be the case. Every FC I've purchased or sold was fairly simple. If anything, negotiations were easier since it's a bank and not a home owner.
To the OP, in the end you have to think about what is best for you. Your agent may be fantastic but if she can't overcome disdain for another agent (we've all been there) then she is not really serving your interests.
Think about it like this, you go to the same mechanic for years with the same car. You buy a new car and the mechanic tells you he hates working on these cars. They are a PITA and he hates the color that you chose. Do you buy a different car or do you go to another mechanic?
Great point! My realtor and I are going to look at 3 properties this aftermoon, one of which is a foreclosure. I will be paying close attention to how she handles the foreclosure. If i see things starting to go the way that they did before, her and I will just have to part ways. Maybe we just aren't the right fit for each other...... Stay tuned!
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