Last Saturday while ‘driving for dollars’ I found this house located in an excellent sub-divsion where the values of the homes are around $150,000 currently. This particular house was the ONLY property that was in dis-repairs.
All windows broken
All cabinetry and appliances stripped
A/C unit gone
Flooring GONE
what are your typical cost for ‘hiring’ an Agent to be your “buyers agent”? Are there normally upfront fees? what percentage is normally given for the close?? Anyone has experience in this field??
Sorry sent that from my Smart (Stupid) phone… No upfront cost’s for hiring an Agent. Upfront fee’s to the Agent no! Up front fee’s as far as closing cost’s yes… Those fee’s will depend on your credit and relationships with your lender. Realtors Generally make right around 6% for the transaction 3% to the buyers Agent and 3% for the sellers Agent. And as far as the last question of anyone having experience in this field I could say YES personally I have been in the industry for almost 20 years. I wish I could say I started when I was 5 and that I am only 25 now, yet I would be lying!! Good luck and let us know if you have more questions.
The Smart phone generally has enough apps to do amazing things (I hear)… Personally I am ready to go back to the old flip phone… Or better yet a pager! Can you still get a pager that works?? Hmmmmm Google time! (Insert Pause) Yes I found them at http://www.pageplusaz.com/ Now all I need is a Delorean and a nice Flux Capacitor which I found for sale at http://www.scifigenre.com/itemDetail.aspx?nItemID=54122
Thats it Goodbye everyone I am going back in time to purchase Real Estate and then go to the future to sell everything… I guess I will need to stop every year to pay my property Taxes. If anyone wants to invest money here is your chance. First stop 1592 going to buy land!
Sorry to all the Moderators of this fine website that was Random… I will take my medication before I post from now on! :anon
When I go out looking for good deals I drive my 1940 studebaker. I don’t drive a Land rover trying to impress someone. It is the man behind the wheel that count not the type of auto he/she drive.
I still drive my 1987 4Runner I bought in 1992… When I bought it they said it would last FOREVER because its a Toyota… Now I have 697,000 miles on it and the engine has lost most of it’s compression! I wonder if they will cover that under the extended warranty?? All I know is if I get the Flux Capacitor I will need to buy a faster car this noway is this thing getting up to 88 m.p.h. right now… I also have a 2008 Mercedes I bought brand new… Now that car has less then 10,000 miles on it. Personally I just happen to love my 4Runner!
BPO agent, what is that your trying to ask. An agent that does a brokers price opinion which is a cheap appraisal ordered by the lender and generally info the asset manager does not hand out is a BPO agt. Who do you want to contact?
getsomeauthor=Figureditout link=topic=52471.msg257966#msg257966 date=1339691308]
Sorry sent that from my Smart (Stupid) phone… No upfront cost’s for hiring an Agent. Upfront fee’s to the Agent no! Up front fee’s as far as closing cost’s yes… Those fee’s will depend on your credit and relationships with your lender. Realtors Generally make right around 6% for the transaction 3% to the buyers Agent and 3% for the sellers Agent. And as far as the last question of anyone having experience in this field I could say YES personally I have been in the industry for almost 20 years. I wish I could say I started when I was 5 and that I am only 25 now, yet I would be lying!! Good luck and let us know if you have more questions.
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Thx ‘Figured’
I want to find out who is the agent that recieves the BPO that works for the bank. Do they work for the bank? Or a broker? Are they the broker?? Its a BoA property’ should I visit the BoAs in my area? I hear they get the BPO and contact a local realtor next. Is that true?
I contacted 3 Realtors about the property’ none are giving me details. Except for obvious info such as “its not listed”.
Anyone can share their experience / proceedure for buying UNLISTED REO properties?
Once you run a title search and find out who own it call them and ask who does their BPO and good luck the bank will tell you. (Why do you want to know who does the BPO). Be very careful on trying to get a BPO person to see it your way. If the realtor does not show it for sale then the bank have not release it. I don’t have any problem buying unlisted proprieties direct from the banks because I walk in to the bank with my bank statement in hand showing I have the money.
Thank you for the advice. I know to ‘tread carefully’ because what I am going to ask him/her to do-Is not ‘right’.
“(Why do you want to know who does the BPO).”
I am only looking for the person that is going to LIST the property-with an Agent who works for the bank. I believe the next step after the ‘BPO’ is produced is the Bank Worker, contacts a local Agent, who lists the property on the MLS.
Someone please correct me if I am making this process hard. I simply want to be the FIRST to bid on the property-hopefully BEFORE it hits the MLS.