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Thanks for clarity...will definitley do that in future purchase.

Stupid question: Does it cost anything to sign a contract like this, or do they just get their regular commision?

8) LONNIE 8)

Gotcha....thanks BeachBum.

Nice post BeachBum...

The Realtor handling the foreclosure for the bank whom we'll call "George" passed me off to a young lady whom we'll call "Melody". Melody is pulling the comps for me and giving me other info about the property. Is she the "buyers advocate", and can I trust that her info is in my best interest? Melody "sounds" like she might be a rookie, which I don't have a problem with as long as her info is accurate, and seeing I'm a rookie myself, although I'd never admit it (lol!). Any thoughts...

8) LONNIE 8)

Sounds like a well thought out plan...good luck with that. Working on my first flip also...

8) LONNIE 8)

I love New York!

OK.....Good luck with that! :nono:

Words of wisdom....thanks John.

8) LONNIE 8)

So John,

Who is the buyers advocate?? And how do I know that the info I'm getting from them is not being teetered in the sellers favor? (ie: comps etc.)

Thanks for the post...

8) LONNIE 8)

Good info Austin....thanks.

8) LONNIE 8)

Thanks for the post Austin and James,

I saw you browsing Austin and hoped you would post. Was looking for a Realtors point of view... and it makes a lot of sense, as does James' post. Not sure I understand what "fiduciary" means but...I get the point.

Austin, is there anything that would make them lean towards me as the buyer, such as relisting the property with them after its been rehabbed for example or doing a cash deal??

8) LONNIE 8)

Is it ok to work directly with the Realtor who is selling an REO property and have them pull the comps on it, or is it better to work with a different realtor so they are not "biased"? Or does this not matter because of their code of ethics?
Also the property is a bank foreclosure that they said will not be on the market for another 2 weeks. I told them that I wanted it as an investment property. She asked if it would be a cash deal or financed, I told her it would be a cash deal (in this case) and that I was hoping for a quick turn around.
Is there anything else I should be asking, or am I asking too much before the house goes "on the market"? It was a vacant house that I had seen while "driving for dollars".

Maybe not such a quick question after all....thanks for your input.

8) LONNIE 8)