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Updated almost 4 years ago on . Most recent reply
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Making a deal without an agent? pros/cons ?
I am a new investor. I already have one duplex, with I bought the typical MLS listing with agent.I am not local, so working long distance was a challenge, but it worked out. I have a partial bad experience, because my realtor took videos and picture, but failed to completely point out all of the potential problem areas. I could go on..
But I'd like to shift gears. I have TWO deals in the works that I found on craigslist. **Don't cringe**.. Off-Market is off-market!. .. Both deals by the same seller. Both are duplexes, where he wants to maximize his sale profits by eliminating the agent fees, selling the properties himself. I have done some homework, and I think the deals are good and a great opportunity. I want to protect my interests, and would like an agent's experience in the area (again its 1000's of miles away). However 2-3% of the sale, which would be added into MY closing costs,, *Gulp*.. It give me pains to imagine spending $8-9000, especially for some advice, market reports, comps, producing a contract, arranging inspections, arranging appraisals, and the little stuff.
Would I be better off getting a lawyer (for $1500-2000)
I want to be fair and pay a reasonable amount for services rendered. But in this case I have done the leg work, I found the deal(s), I did the communications.
There is a ton of articles on the pros and cons of Off-market, and how to find off-market real estate. BUT ... Is there a good tutorial on "Step by step, HOWTO complete the sale of Off-Market investment properties?"
thanks
Steve