What kind of questions will a Realtor ask me when... - Posted by Pat

Posted by SCook85 on April 20, 1999 at 09:24:55:

The realtor shouldn’t be asking the questions. If they do you’ve already lost out. You should be instructing them, take control. The only types of questions that a realtor is going to ask you are qualifying questions (that is if they ask these). They just want to know that you can buy a house and arent’ wasting their time. Notice what I said there “wasting their time”. This is something that they are very concerned with.
Know what you want when you walk in, make sure they can provide it. Emphasize the fact that you value there time as well as yours, and that you will do the leg work once they give you the listings and all you want from them is to submit your offers and follow up on them. Every once in a while you will want them to go out to show you a home. Let them know that when it comes to banks that it will take awhile for them to get back to you with an answer, also tell them that you may only get 1 out of every 10 accpeted but that is the norm. You will come across as credible and someone experienced at doing this if you tell them before they can ask. I hope you were aware of those 2 little pieces of information that I gave you up there. If not you will probably burn through a couple of realtors as you learn. That’s OK, I burned through about 3 before I settled into a couple of them.


What kind of questions will a Realtor ask me when… - Posted by Pat

Posted by Pat on April 20, 1999 at 09:09:05:

I sit down and discuss my criteria with them. I have a meeting this weekend with one and I want to be prepared for all her questions. I also have some too like, when they pull up a pty and it is institutinally owned will it have
clear title, and is it necessary to visit the property every
time when you are interested in buying. Can you just go by
the listing and what is shown there.

Any answere will be helpful

Re: What kind of questions will a Realtor ask me when… - Posted by Troy M

Posted by Troy M on April 20, 1999 at 20:25:23:

Hello Pat,

A property that is institutionally owned may or may not have clear title at the time of your offer. Most often, a bank owned property has been foreclosed on and sometimes there are problems with the way the foreclosure was handled-bunch of legal mumbojumbo I have no interest in learning, but the important thing is that your offer states that the seller will give you clear title (usually a warranty deed). Then, if they can’t get clear title within the time frame of your offer, you either wait patiently, or withdraw your offer and move on. Also, I personally would NOT reccommend making offers on REO’s w/out checking them out up close and personal like. Since most of them are repo’s, the former occupants probably didn’t care about the condition of the house once they knew they were losing it and some will leave “surprises” for the bank that forecloses on them. That’s just my opinion, I know some investors like to spit out offers on anything that looks like a possible and rely on weasel clauses. To each his/her own.

Good Luck!

Troy M