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Updated over 2 years ago on . Most recent reply

User Stats

23
Posts
11
Votes
Anders R.
  • New to Real Estate
  • Brooklyn, NY
11
Votes |
23
Posts

Should I get a broker if I found an off-market property?

Anders R.
  • New to Real Estate
  • Brooklyn, NY
Posted

I've been meeting with a property owner who wants to sell and would like to do a cash deal.  Based on a back of the napkin calculation of the possible selling price and monthly costs, etc, the property would cash-flow.  I've gotten to know both him and his wife over the last several months and they say they are both getting old and just don't want to continue being landlords. 

There is obviously a ton of due diligence I would want to do before moving forward, but one top question I have is whether or not I want to get a broker involved.

 I'm not really concerned about the broker commission, I'm more just not sure what might happen after I inform a broker about an off-market listing in a super hot market. 

Any thoughts or insights would be highly appreciated!

-Anders

Most Popular Reply

User Stats

23
Posts
11
Votes
Anders R.
  • New to Real Estate
  • Brooklyn, NY
11
Votes |
23
Posts
Anders R.
  • New to Real Estate
  • Brooklyn, NY
Replied

Thanks all for the great feedback and advice! @David Irwin congrats on having pulled that off w/o a broker!  @Nick Thomas good point about the signed agreement @Joshua Janus @Mohammed Rahman yes, the reason for wanting to work with a broker is the unknowns and making sure I cross all the t's, dot all the i's etc.  @Dwayne Poster good advice, I'll definitely be reaching out to my attorney as a next step.

Thanks again!

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