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Is anyone a realtor? I have a question. A few questions, actually.

What all can you find out about a house for your client? Can you find out what the seller owes? If it is a pre-forclosure? Tax info, like if they are behind?

Answer Question
 
Raine2001

Asked by Raine2001 at 12:16 PM on Jan. 29, 2011 in Money & Work

Level 25 (24,018 Credits)
Answers (9)
  • Yes!! U can find out all of that! They can run a report on the property for u.
    dancer

    Answer by dancer at 12:20 PM on Jan. 29, 2011

  • All (mostly) of those records are public information; most states have a website where you can look up general info; who owns the property, how much they bought it for, if the taxes are current (and what they are). The pre-foreclosure information can be tricky; foreclosures aren't public until the suit has been filed by the bank. Your best bet is to check court records for this. The docket would show how much they owe (the bank is suing them for.)
    Scuba

    Answer by Scuba at 12:22 PM on Jan. 29, 2011

  • She is acting like she can't find out what they owe! I think she actually told us that. :( Making me mad. And, the house we want has been on the market for 6 months. They really haven't reduced the price. She say's she 'doesn't think' they will take less then what is actually less then $5,000 under asking price.
    Hubby looked up online, found that you should bid 10% under asking. I just don't know what to think of her, so far, it's not so great.
    Raine2001

    Comment by Raine2001 (original poster) at 12:27 PM on Jan. 29, 2011

  • Well, what they owe is not your problem. Your realtor is obligated to show you what other homes that are comparable and in the same area have sold for so you can come up with an offer. It's all based on what other homes have sold for. Make what you think is a reasonable offer and let the seller counter.
    elizabr

    Answer by elizabr at 12:37 PM on Jan. 29, 2011

  • She may not be able to find out exactly what they owe; it's private information until the loan is in default. What she can do is find out what they paid for it and when - it's simple math to estimate what they owe on it now. (Remember though, they may have a second mortgage on the property, and they have to pay Realtor costs which can be up to 7% of the selling price. If they have improved the property since they've owned it, they also have equity in the house.) You can offer whatever you'd like, sometimes you can get the price lower than what they are asking; tell your Realtor what you want to offer on the house, and see what happens! Six months isn't a long time to be on the market (in this economy), they may not be particularly motivated yet.
    Scuba

    Answer by Scuba at 12:39 PM on Jan. 29, 2011

  • See if the home is under this website. It has a chart at the bottom on the history of the home on how long it's been in the market and when it was purchased. 

    musicmom08

    Answer by musicmom08 at 12:40 PM on Jan. 29, 2011

  • If you don't like your buyer's agent, then find a new one. As far as what someone owes on their home, it has nothing to do with how much they will take for it.
    sherribeare

    Answer by sherribeare at 12:52 PM on Jan. 29, 2011

  • Most times you won't be able to find out how much they owe, the property info would tell you the homes estimated value, not market value. A property report may also tell you how much the owner bought the house for and when(but that doesn't mean you know what they owe) You can also find out how much the taxes are. As for the agent, she works for YOU, tell her how much you want to offer, if the owners don't like it then they will counter. If you find the agent hard to work with, find another.

    how_reb

    Answer by how_reb at 2:54 PM on Jan. 29, 2011

  • I'm no longer a realtor but I know the answer to your question.

    No realtor is going to "disclose" this information, unless it's okay with the seller to do so.

    Most sellers would be pretty stupid to disclose the information too--if they're hoping for a full price offer.
    You can google the status of their taxes on your county records on your own, with just an address or a seller name.
    romanceparty4u

    Answer by romanceparty4u at 2:15 AM on Jan. 30, 2011

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