Tip 3: Engage a real estate agent as a "buyer's representative"
Most people hire a real estate agent to sell their home. These "seller's representatives" are charged with making the sale and negotiating the best deal for their clients. "Buyer's representatives" have the home buyer's interests at heart, and are charged with finding the right property and negotiating the best price for their clients. Picking the right real estate agent will make a buyer's life much easier. There are agents who specialize in the foreclosure market, with specific experience in REO properties. Look for an agent with foreclosure transaction experience, as well as knowledge of local, regional and state laws. But it's also important to consider the agent's knowledge of the area; their ability to close a deal; and their access to other professionals (attorneys, lenders, mortgage and title professionals) to ensure that the buyer is in good hands.
Information provided by RealtyTrac, your Inside Track to Real Estate.
