While it’s never a good idea to try and buy a home without the professional representation of a real estate agent, this is especially true with bank-owned homes and short sales.
Real estate transactions can be complicated. Some of the most complicated of all? Distressed properties.
Figuring out how much to offer on a distressed home can be difficult. When was the last time you negotiated with a bank? A bank has a real estate expert on their side; why not have one on yours? In a market of multiple bids and counteroffers, an agent is a must.
Simply put, your agent knows your real estate market and what it takes to buy a home in today’s competitive market.
Agents can help you decide whether you’re getting enough of a bargain to stick with the often time-consuming and frustrating experience of buying a distressed property – or if you should just walk (or run!) away. Having an agent on your side while you’re buying a distressed property is one of the smartest things you can do to make sure your home purchase is a successful one.