Posted by BillW on December 31, 2000 at 11:06:33:
Since it’s currently listed with a broker, you’ll have to deal through the broker, since these are usually exclusive right to sell agreements that the broker has with the owner. Even if you contacted the owner directly, I don’t think you could cut out the broker, nor would you really want to. That’s a deal between the current owners and the broker.
What you really need to do is to decide what the property is worth and what you’re willing to pay for it. You didn’t mention what your plans for the property were. Are you thinking of keeping it for a rental or reselling for a profit? What is the listing price compared to the actual value of the property?
Also, find out from the listing agent what the sellers level of motivation is at this time. If there’s no motivation, you probably won’t find a good deal. However, if they’re paying a big neg. cash flow on it, and can’t afford it, maybe there’s enough motivation for them to do a fast sale. The key here is seller MOTIVATION.