my first commercial REO deal--how to complete it

[Jerrold Stallworth]

Hi all,

I'm a Realtor in Chicago.

A friend referred a customer to me who wants to buy a small storefront, which happens to be an REO property on the Chicago's South Side. He has spoken to the bank, agreed to pay their price and terms, but the bank insists that he goes through the Realtor thats handling this property. Because he has had problems with them he wants me to complete the transaction for him.

My question is what do I need to have before I call the Realtor or bank to get the ball rolling on this deal? I've never done commercial but this is a small property no more than $30K and the customer has told me the bank is ready to go.

Any and all suggestions are welcome. Thanks.