OfflineGreetings All,
Can someone tell me in terms of negotiating what would be the difference in dealing with a seller directly versus an REO by the bank with an agent? I found this house and it is an REO, great neighborhood, a fixer, been on the market for 6 months and has the listing by the agent.
Questions:
Who pays the commission?
Who do I negotiate the selling price with?
Can you do an assignment with the bank?
Peace and Blessings,
“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light not our darkness that frightens us. Actually, who are you not to be? You are a child of God. Your playing small doesn’t serve the world. There’s nothing enlightened about shrinking so that other people won’t feel insecure around you. We were born to make manifest the glory of God that is within us.”
- Nelson Mandela
The Seller pays the commission for both listing and buyers agents. You would negotiate the deal with the seller through your agent. Most REO's do not allow assignments. You would need to find out through the listing agent if you can do an assignment
"NOW GO FIND A DEAL"
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