Is bank owned; can I go directly to Bank?

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March 07 2009
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Answers (4)

I would highly recommend having representation, whether it is through a buyer's agent, or the listing agent.  In Colorado, there is no dual agency, but a realtor can be a transaction broker and fairly represent both sides of the deal. 
Be sure that whomever you use is a REALTOR.  They will be sworn to uphold all laws and ethics of the National Association of Realtors, as well as any and all state laws.
Good luck with your purchase.  I'd be happy to answer any other questions you may have.
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March 09 2009
Profile picture for teamsoli

Actually I will challenge the other answers and say that it is not always in your best interest to use a different agent than the listing agent.  We have had great success representing both sides on a transaction...it cuts out the middle man, any guessing and takes it straight to business which is what the transaction should be...business!

Besides the bank represents themselves, they are not really looking to the Realtors for advice, they have a bottom line too.

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March 07 2009
Profile picture for wetalkrealestate
Bank are so overwhelmed with the number of foreclosures that for a while now they just hire and real estate agent to list the property.

You should get a buyer agent to solely represent your interest. You also can go straight to the listing agent but remember the listing agent represents the bank and has the bank best interest in mind. So again having an agent that represents you will protect and will work in your best interest.

Hope this will help. Good luck.

Noemi
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You can typically go to either the Listing Agent or find a Buyer's Agent to represent you.  My advice would be to get your own representation...if you call on the sign and use the Listing Agent it puts him in an awkward position.  How can he represent you and the seller and have both parties best interests in mind.  It is possible but personally I dont like representing both sides.  It is just an awkward position to be in and I wont do it any more.

I hope this helps.  Let me know if I can help anymore. Some things will be different in each marketplace but generally real estate is the same.

Rob
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March 07 2009
 

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