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Updated over 7 years ago, 07/13/2017
Buying Off Market Without an Agent?
So I found an off market deal on a duplex. It is being marketed basically as a turn key deal...they purchased a foreclosure, did the reno, placed tenants, and would do the property management. The numbers on it look good and the asking price is a fraction below market price.
The seller is a licensed agent and is adamant that we do not use a buyer's agent since this is an off market deal and they will not pay commissions. However, I am getting nervous about all the details that I am not familiar with. For example, the purchase and sale agreement template they sent me did not include a financing contingency. I don't know even know what else to look for.
Can I hire an agent to simply draft the purchase agreement? Can I negotiate a price with the seller and then offer to pay more to cover the agent commission? What would you do?