I am about to get involved with a SS with Wells Fargo. My intention is to buy, rehab and unload it. I do not need a realtor so with that said, what is the best way to get around the listing agreement with WF?
Thank you.
L.Souza-GA
At some point in your real estate business you are going to need a realtor. If you have one on your team, you can easily ask them to do a favor in a situation like this and list a property.
If you don’t have one on your team who will list for you for nothing, then I don’t have a real solution. Lots of people get a RE license themselves for this stuff. Flat fee Realtor?
Hi,
I think what your saying is you found a property currently listed as a short sale you would like to buy and potentially do the hardship package and negotiations yourself however since it's listed you want to know how you could go around the listing?
The chances that the current listing will expire and the property will not have foreclosed is pretty small as real estate agents prefer 6 month listing agreements and once the bank is working with an agent, the bank tends to want to go the distance.
If you like the property, make an offer and work with the agent to procure an approval, after all bank pays the real estate commissions!
Good luck,
GR
Eric…I do have good relationship with a couple of good agents but the problem is the broker.
Gold…No the house is listed, in fact I should start the SS process this week and will ask the homeowner to write a letter to WF saying they dont need the house to be listed because they can’t afford to pay commission and also because they already have a buyer… Lets see if this works!!
Any other ideas??
Thank you
A little confused. The house is already listed so it is complying with the requirement to be listed.
You probably can’t claim seller can’t afford the commission because they don’t pay the commission in a short sale. The lender essentially does. The seller pays nothing/gets nothing.
If the issue is that the listing agent does not want to give you freedom to negotiate with the lender, then you can:
-Sweet talk the listing agent
-Suggest the agent hire a pro negotiator
-Do an end around on the agent and go to the homeowner and explain that you want to buy the house and you know what you are doing with the negotiations, but the listing agent is blocking. Ask the homeowner to cancel the listing.
If the listing agent will allow you to negotiate with the bank I don’t think you have a problem.
The house is NOT listed.
This is confusing, see your previous post.
If a friend realtor won’t list it for nothing , just spend a couple hundred bucks to list with a flat fee realtor and work the deal.
Sorry guys!! my mistake. Again, no the house is not listed.