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Updated almost 5 years ago on . Most recent reply

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Jason Grace
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Buying property out of state

Jason Grace
Posted

This is my first time on this forum and although I have been listening to bp for a while now I am looking to purchase my first apt building out of state. I am in Texas the property is in Illinois. Prices here have gotten to the point of not being able to cash flow.  The question I have is probably a dumb question I should know the answer to however just want to double check. So I have been dealing with the realtor that has the listing for a couple weeks. I had my cousin go look at the property as he lives in the area so I have that advantage if I buy.  My question is should I get a buyers broker/agent in that area to do the dealing for me?  Or is it fine dealing with it myself? I am sure I know the answer I just want to confirm with  the  knowledgeable people on this forum.  And to take it further does anyone know a good agent in the northern Illinois area ? Mostly covering the smaller city’s between Rockford and the Wisconsin border ?   Thank you in advance 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

"A lawyer who represents himself has a fool for a client."

Why does this adage persist? Because it's true.

Likewise, you are foolish to represent yourself when a Buyer's Agent is paid for by the seller, knows the market better than you, understands real estate laws and contracts, can negotiate better, etc.

If you go straight to the seller or the seller's agent, they have no obligation to look out for you. 

Could it work? Sure! But it could just as easily go south when you don't have anyone representing you or watching your back. An unscrupulous agent or seller can cost you a lot of money.

  • Nathan Gesner
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