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Updated over 5 years ago on . Most recent reply
Should I offer without a buyer agent?
The investor group rep I spoke with on a 7 unit I'm interested in offering on in Cleveland told me - after I said I have no buyer agent at this time - that I have the option of going without one and it would be reflected in the price, which, at 3% would come to about $6k. I'm in Cali so as an out of state investor I would normally be leaving it to my agent to arrange inspections, find me a PM, etc. My thought is that's probably doable. I just need a good inspection on a fully rebabbed property that appears to be in great shape with 100% occupancy.
Am I spending a dollar to save a dime or is this doable?
Most Popular Reply
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
There's always a but.... Should I offer without a buyer agent? Sure, if you are hella experienced investing in what you know in your own backyard.
Out of state? First purchase there? No way. They may have some municipal rules like lead or rental certs you have no idea about. It may not be zoned for its current use. It may it may...
But don't get just any agent. Get a commercial pro local to the area that specializes in commercial assets. Then negotiate for the lousy $6k. Get both.