Should my agent have offered to research a newly foreclosed home I informed him of & am interested in? He didn't so I called to find out more about it

Since the home had just been foreclosed on and I am interested in it, I wanted to find out as much as I could about it, as soon as I could. He sent me back a text saying "It was not officially on the market yet, but it might be a good option if it ends up becoming available." I had asked previously if he was familiar with dealing with foreclosures in case I did come across one I was interested in, and he told me he was.
(0) | asked by: B G Barnes | share | 2 weeks ago | Report
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answer by Ricki Taub    |   Visit My Website   |   Contact Me
You should definitely get him to look into it.
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answer by Ricki Taub    |   Visit My Website   |   Contact Me
You should definitely get him to look into it.
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6 days ago  |   Report   |   share
answer by Myles E. Beresford III    |   Visit My Website   |   Contact Me
Agents will explain the foreclosure process and the timeline that is involved. At that point if you are still interested the agent may want to refer you to an agent that works that market.
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answer by Jolie Abreu    |   Visit My Website   |   Contact Me
I was a listing agent for REO (bank owned) properties. When a home first goes into Foreclosure it can take months and even a year or more before it comes on the market. There are a lot of steps in between the foreclosure and going on to MLS. The bank never considers an offer prior to the home going on the MLS. I had buyers calling me all the time about this home or that which I had as a Pre-List (meaning the bank had assigned it to me but it wasn't in the MLS yet). So, your agent is correct to wait for it to hit the MLS first. Even the auction properties that are truly for sale are on the MLS first.
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answer by Tara Smith    |   Visit My Website   |   Contact Me
I like the article provided by Hank Bailey on Pre-Foreclosure Listings. The article can be loctaed on "Inman" web site Article is titled - pre-foreclosure-listings-are-wild-goose-chases-for-clients.
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answer by Tara Smith    |   Visit My Website   |   Contact Me
I like the article provided by Hank Bailey on Pre-Foreclosure Listings. The article can be loctaed on the "Inman" web site Article is titled - pre-foreclosure-listings-are-wild-goose-chases-for-clients.
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answer by Amy Johnson    |   Visit My Website   |   Contact Me
There are many agents out there that will not go that extra mile to search in unconventional areas for properties. Nicholas Rutkowski also answers the same things I would, but another thing you can do is to check the various websites. First thing to check is just google the address and see what pops up. You would be surprised the amount of information you can find.
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answer by Nicholas Rutkowski    |   Visit My Website   |   Contact Me
He might not have the proper knowledge on how to research those kinds of properties. Maybe it's best to find someone who is more knowledgeable in Foreclosures and REOs. Try searching your local county clerk's office. Use their database to find out more information about current foreclosures and pre-forclosures. Look under "Lis Pendens", "Mortgage Default" ,"Liens". That should help you get a better, more accurate idea of the property.
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2 weeks ago  |   Report   |   share
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