If a house is on Notice of Default and it is listed on MLS with an agent, can I still make an offer to the owner directly or do I have to go to the agent.
You can make offer directly, if Seller will let you. He probably has an obligation to pay the listing Broker, no matter who sells the property. Seller would be smart to have Broker present as he is going to get paid anyway, and might keep all of you out of trouble.
You'll probably be able to put together a much better deal with the seller directly than through the broker. The question tho, is how did you see it on MLS? Are you a broker? Are you working with a broker? If so, than it's a different story...
[addsig]
If it's listed, the broker has an exclusive right to sell that property. The seller is not a a FSBO and cannot negotiate directly with buyers -- unless he has an open listing. Be careful of sidestepping the agent.
i've heard of investor who go directly to the owner and work something out and then go talk with the agent, sometimes the agent doesn't understand the urgency of the seller's situation and usually something can be worked out either giving the agent something or nothing.....
i've heard of investors who go directly to the owner and work something out and then go talk with the agent, sometimes the agent doesn't understand the urgency of the seller's situation and usually something can be worked out either giving the agent something or nothing.....the deals they go after are GOOD deals so giving the realtor something isn't much of a problem
What I do may not be applicable. cause I am a member of the MLS and a Broker here in Calif. I call the Broker, inform him that the property is NOD and ask him for a meeting with his client. The broker to be present to hold his hand. Then oh mighty speculative buyer. Go to the meeting and with all parties present explore the existing situation. Try to be helpfull make nice nice. The Broker will love you cause you are a buyer and the seller will love you cause you are saving him from a fate worst then death, no money. Very simple and once again lots of fun. Most of us Brokers do not have a clue. That Broker should have solved this problem at time of listing. Cheers Lucius
10th July, 2003
I have recently purchased John $CASH$ Lockes Subject To Training Manual. I would suggest that you purchase a copy as well. He has a lot to teach you in there PLUS there is a letter in there that you can try to use in this situation. It is called Request for Unconditional Release of Property. You would provide that form to the seller that you contacted directly and have them send it to the selling agent. Basicaly it is asking/telling them that they would like to be released from having the listing with the selling agent. I would suggest that it is perhapse altered slightly to explain the sence of urgency and that they feel that they will be harmed financially due to the fast approaching forclosure if the request is not honored.
Hope this helps,
Joe Robertson
from Southern California
[addsig]
You can make offer directly, if Seller will let you. He probably has an obligation to pay the listing Broker, no matter who sells the property. Seller would be smart to have Broker present as he is going to get paid anyway, and might keep all of you out of trouble.
You'll probably be able to put together a much better deal with the seller directly than through the broker. The question tho, is how did you see it on MLS? Are you a broker? Are you working with a broker? If so, than it's a different story...
[addsig]
I saw it on the listing of houses for sale, I also know that it is on NOD already. Thanks for all the repy
If it's listed, the broker has an exclusive right to sell that property. The seller is not a a FSBO and cannot negotiate directly with buyers -- unless he has an open listing. Be careful of sidestepping the agent.
i've heard of investor who go directly to the owner and work something out and then go talk with the agent, sometimes the agent doesn't understand the urgency of the seller's situation and usually something can be worked out either giving the agent something or nothing.....
i've heard of investors who go directly to the owner and work something out and then go talk with the agent, sometimes the agent doesn't understand the urgency of the seller's situation and usually something can be worked out either giving the agent something or nothing.....the deals they go after are GOOD deals so giving the realtor something isn't much of a problem
What I do may not be applicable. cause I am a member of the MLS and a Broker here in Calif. I call the Broker, inform him that the property is NOD and ask him for a meeting with his client. The broker to be present to hold his hand. Then oh mighty speculative buyer. Go to the meeting and with all parties present explore the existing situation. Try to be helpfull make nice nice. The Broker will love you cause you are a buyer and the seller will love you cause you are saving him from a fate worst then death, no money. Very simple and once again lots of fun. Most of us Brokers do not have a clue. That Broker should have solved this problem at time of listing. Cheers Lucius
I have recently purchased John $CASH$ Lockes Subject To Training Manual. I would suggest that you purchase a copy as well. He has a lot to teach you in there PLUS there is a letter in there that you can try to use in this situation. It is called Request for Unconditional Release of Property. You would provide that form to the seller that you contacted directly and have them send it to the selling agent. Basicaly it is asking/telling them that they would like to be released from having the listing with the selling agent. I would suggest that it is perhapse altered slightly to explain the sence of urgency and that they feel that they will be harmed financially due to the fast approaching forclosure if the request is not honored.
Hope this helps,
Joe Robertson
from Southern California
[addsig]