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Do I need a agent to submit a bid, (cash)?

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August 04 2013 - Saint Louis
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Answers (5)

No you don't but having one can be to your benefit.  If you do not wish to work with a realtor, you should seek out the advice of a lawyer.  Have him look over the contracts.  It's always good to be informed before you sign.  Best wishes!
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August 06 2013
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No, I just submitted one last week without use of a realtor or attorney.  Saved me $5500 off the price of the home because the sellers agent was willing to take less percent commission since it didn't have to be split with a buyers agent.  Highly recommended if you're willing and able to do it right.
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August 04 2013
You do not need an agent for an all cash transaction, but I would recommend one. Forget the commission for a moment, you would want someone who is licensed by the State to look out for your benefit, to review the Purchase and Sale agreement, to give you their many years of experience in working with sellers. Having a Realtor who can recommend a good home inspector, who too is licensed with the state, or someone who can review the title, in case you want to later sell the property with clean title. Without clean title, banks will not be interested in lending on the property. The positives outweigh the negatives, all for a few percentage points, which too are negotiable with the agent in some cases.

Best of luck to you,
Liz
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August 04 2013
You usually don't need an agent to submit an offer. But you will need the necessary legal contracts to submit an offer. You might consider using an agent (working on a flat fee basis) or an attorney to draw up the needed documents and set up escrow.
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August 04 2013
Depends on who the seller is.  With HUD homes, you must go thru a HUD registered Realtor or Broker.  With Auction.com you can bid on your own.  Are you sure of the value or the potential value of the property vs other comparable homes in the same neighborhood/location?  If the home needs work, are you sure of the scope of work and cost to do the work?  Have you had complete access to the property?  If you answered no to any of these questions I would recommend a qualified Realtor to assist you.  In AZ Realtor fees are paid by the Seller unless otherwise agreed upon.  Might be a good investment  (-;   Sincerely, Peg McNab
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August 04 2013
 
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