By Todd Clark (Broker/Sales Coach) 503-524-9494
I am in the middle of a
transaction right now and though the
seller doesn’t claim to be the listing agent, it seems every time
something is
done on the transaction it is the owner / agent. I do feel
sorry for her, I’m
not sure what the circumstances are behind the sale, but whatever it
is, my
buyers are worried they are being ripped off.
But, are there things as a buyer
you need to know when an
agent is representing themselves in a transaction? Well,
yes. This person does
have knowledge of real estate that you don’t, but one thing I can tell
you even
though they are representing themselves, they are not getting any
financial
gain from it. (If they do, then they are committing mortgage fraud and
could
end up in jail.)
One of the things buyers
are concerned with in a transaction is the repair
addendum and what to do with the information obtained in the report.
Most times,
when you are buying and REO or a short sale, you are getting the home
as-is.
You need to remember that if these people had money to make repairs,
then, more
than likely, they wouldn’t be in the situation they are in with their
bank. It
isn’t that they don’t want to do the repairs, they just can’t justify
it when
they are already losing their credit, their home, and then to pay you
to take
it from them just doesn’t make financial sense in most situations.
The best thing you can do
as a buyer, when buying a short sale from an agent or
even a regular citizen is to beware and
make sure you don’t take any shortcuts and get all inspections done on
time.
This is really the best way to stay informed and on top of the
situation and
protect yourself. If you have any questions on buying a short sale in
Beaverton
or Tigard, Oregon, don’t hesitate to call or email me.
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
Tigard Oregon Homes for Sale, Tigard OR homes for sale, homes for sale in zip code, 97223,97224, Tigard Oregon Realtor, Tigard OR Realtor, Tigard Oregon MLS Search, Tigard OR MLS Search, 1st time home buying expert, short sale expert, avoiding foreclosure in Tigard, helping families home, LivingBeaverton, Townhomes for sale, home for sale, house for sale, Bull Mountain North, Bull Mountain South, King City, Mountainview, Greenburg, Summer Lake Neighborhood, Summerfield neighborhood, Tigard neighborhood, Walnut Grove Neighborhood. Tigard Oregon Real Estate, Tigard OR real estate, Todd Clark, (503)524-9494, WWW.LivingTigard.com, www.IFoundYourNewHome.com, www.SavingyouFromForeclosure.com
©2009 Todd Clark - Originally posted at When an agent ends up selling their own home on a short sale, is it really buyer beware?
