patrick.net

If investors aren't interested in the property, this is helpful. Otherwise, this is pretty stale.

ordertaker says

If investors aren't interested in the property, this is helpful. Otherwise, this is pretty stale.

My take is if investors are interested in a property I RUN.

1) If a listed property has not sold before the listing is published, it is most likely overpriced. If the property is such a "good deal", why didn't the agent buy it before it was published? Only the listing agent knows ALL the problems with the house AND the REAL reason for sale. The listing agent also knows how much the seller will accept.

2) FACT: The property is already overpriced at least by 6% upon listing it. The NAR claims that houses sold through a Realtor receive greater than 10% more than the same house sold by a non-Realtor.

3) 90% of the time when a seller is selling their principal residence, they are having serious financial or personal difficulties ( Trump's 5 D's of Real estate" Divorce, Death, Destruction, Debt, Destitution). Why SHOULD a seller be honest about the property? They have NOTHING to lose by lying , since they just LOST THEIR HOUSE. What other assets do they really have? A buyer may have a cause of action for seller fraud (false disclosures) , but they may NO LONGER HAVE ASSETS to capture as a result of a lawsuit.

investor90 says

2) FACT: The property is already overpriced at least by 6% upon listing it. The NAR claims that houses sold through a Realtor receive greater than 10% more than the same house sold by a non-Realtor.

That's an expensive 4%.

Easy. Just show up at the steps with your cashier's check & start bidding. You want a great deal? Bid on properties that no one bids on. Sometimes you can get a million dollar property for only several thousand dollars. Occasionally, you can get a free and clear property for pennies on the dollar. No joke. :)

If you're bidding on a house nobody wants chances are there's a very good reason why.