Should my realtor call first on Short Sales?

Sorry, duplicate post.  I'm trying to figure out how to erase it...

Intdesr,  I am a lender from ohio and will try to understand your questions and also answer a few questions for you.

I am very familar with VA loans.    Buying forclosed homes using VA is normally very difficult because of Repairs.     Do you plan on (or can you) putting any money into the purchase?   Down Payment or Closing Costs.

Why are you looking at only those homes?

Will post a couple of other questions while waiting for you to come back. 

Have you been PreApproved Yet?

If the property needs repairs how do you plan on having them done?  

How many homes have you seen?

Have you written any offers yet

Here in Northern Ohio, your agent would normally call the lister to let them know that they were bringing a client to see the home.    If the home is occupied, I assume that would be necessary there also.  

well, it isnt really necessary, but i would say that if she isnt willing to fufill the terms of your contract that it might be worth it to her to forgo say .5-1% of her fee... if you want for her to do it tell her you are willing to find another agent and see how much she really needs your listing.

a buyer's agent is widely considered to be a negotiator on your behalf, trying to get you the best deal for your dollars and cents... if you think she can get you "the best deal" without speaking to the seller, then let her do as she pleases

You are very right to question your realtor.  I will say it for you.  Get a different realtor.  They are all over the place.  Find one who is willing to work for the sale.  No way you should have to drive for an hour every time you want to see a property not knowing if it is even buyable.  A phone call is cheap and takes no time.  It's cheaper for your realtor too.  If your realtor has a problem calling LAs to ask questions, I can't imagine they are capable of negotiating on your behalf either.

Next, it's not likely you will find reo/short sale property that will go FHA/VA.  They just have too many problems.

LA,   I am still waiting for the person to return.  Your last statement might be the reason.   The properties they are looking at are likely distressed properties, so FHA or VA financing might not be an option.   I suspect the agent has not told them that.    If that is the case, I would agree that they need different Realtor.     Realtors invest alot of time with buyers, and I would never say they are overpaid.   They work for Free until they find you a home.    Up in my area as many Realtors drop Lookers (possibly buyers) as the buyers drop the Realtor.    Everyone needs to be realistic. 

I am preapproved VA and want VA because there's no PMI.  I understand getting a short sale or foreclosure is going to be difficult.  The first house I see that is an owner that I really like I will jump on.  I am not going to change to a different loan just to make my purchase easier yet.  I am in no serious rush but I am certainly motivated.  I am using Zip Realty so I understand that I will have to do some of the leg work.  I have two offers right now.  I do think the realtor should call and find out some things like I mentioned so I don't waste my time seeing houses that need a lot of work.  I won't be paying out of my own pocket any of the work unless it's minor like doorknobs or a broken drawer or something.  I just want to keep an open mind at what she's telling me about whether or not she should be calling on listings. 

You mentioned that the homes you are looking at are about an hour away.    How close to the properties is your agent?    How well do they know the homes available in that area?

What is Zip Realty???    A limited service Realtor?

She's pretty close to the areas I'm looking at (5-10 min at most and the next city over).  

How many homes have you seen?

Zip realty is a brokerage that gives part of the commission back as a rebate.  On a $300,000 house I'll get back around 2k.  It also means that I've been doing all of the searching online as all the listings are on their great website.  That's okay, I don't mind that, but if I have to start calling LA"S, I'm starting to question our arrangement here. 

I've only seen about 9 homes.  I'm being quite selective, I will admit.  I'm pretty familiar with the areas now so I can eliminate most online. 

Just my opinion but Zip is the best RE site on the web.  Hands down.  But their business model is built on a market that doesn't exist anymore.  It's hard to be a buyer's agent now.  You used to have to show a few houses to get a sale but now you might have to show a few houses times 10 to get that same sale.

I wanted to use my Zip Agent but their business is built on volume and the customer being able to do the work themselves.  In this market, it just doesn't work that way.

la457, What way does it work now? 

Yes, your agent should be calling ahead, but not to determine property condition.   A set of eyes on these properties are what will answer your questions and help to screen out properties where a VA/FHA appraisal might cause your contract to die.  The only questions to be asked by your agent are if there are any other offers, or in the case of a short sale, there are several other questions that need to be answered to determine if the sale is possible at all.  The properties you are searching are being sold "as-is", and that definition wildly varies.  What might not be a big issue for you, such as a couple of cracked panes of glass, could be a deal killer for a VA loan.

My recommendation to you is to get out from behind your computer, get in the car with your agent, and actually look at these places.  If it takes an hour to get to where you want to buy, remember that's the area you chose!

At a minimum your agent should be previewing these properties for you so that their actual condition is assessed by someone who is working for you.  If your agent won't preview properties  for you move to a full service agent who will.

The fluff version of the MLS is all you can view on any of the sites.  It's meant to be for customers, not agents.  Just for example, you can't see if it's a short sale or a reo unless they choose to tell you in the narrative.

A lot of people, me included, tend to see short sales as not buyable.  You can wait 6 months and still not know for sure if you are going to get the house.  Then in the middle of it all, they will end up foreclosed and on the market as a reo.

In todays market, you have to assume almost anything is some sort of distress sale.  Jane and John Q. Public aren't sprucing it up and making sure everything is in good shape to sell.  They are busy ripping out all the appliances and selling everything in the house that will bring in a couple bucks.  You now have to assume just about anything you can buy will need work.  There's a reason so many of the homes listed have no pictures included.  It's important to have an agent who will make calls and check out properties for you.

I guess I don't really know what to expect from a brokerage like Zip Realty.  I really don't have a problem searching out the properties online.  I will ask my realtor to continue calling the listing agents.  Do you think it's too much to ask for her to preview places as well?

I have been out looking at every single property that I want to see. 

How about finding a realtor that could pre-screen properties for you?  I bought an older home with a VA loan several years ago and it was the best decision I made. The house had termite damage and other issues where some of the problems may not have been found with a standard inspection. So VA loans (in regards to the inspection) may exclude you from purchasing a fixer uper. This is a good thing! This does not mean you can't purchase a foreclosure (I would look at REO's) or a short sale. Not every foreclosure is a dump and most people selling via short sale or still in the home. You should interview several realtors and let him/her know what you are looking for and perhaps you could have them personnally take a look at the properties first. This could save you driving for nothing.

I just placed a call to a zip realty director.  My goal is to find out what I can expect from a Zip Realty Realtor.  I definitely want someone who will call on my behalf and pre-screen properties.  If my realtor can not do those things, I will just move on to someone who will.  Thank you to everyone who has replied. I'm a first time buyer and wasn't sure what to expect and don't want to just fire my realtor without finding out what to expect and relay those conditions to her. 

Best of luck to you.  I have spoken with a Zip director in LV about what it takes to buy a home now VS their business model.  I don't think they will survive in this market unless they find a way to adapt.  Too bad because the site is great and it's a good concept.

As a first time buyer, you need and deserve a little help and even hand holding.  It's not an easy market out there.  You are right to take your time and learn as much as possible along the way.  Purchasing a home is a huge decision that has to be right for you long term.

I will pass along the best advice I got during this last hunt.  Spend the majority of your time on the newest listings you can get your hands on.  Act now, don't wait for pictures to show up.  Don't waste a lot of time on the 'old' stuff.  If it's been on the market a long time; there's usually a reason.