Plano foreclosure listings offer potential homebuyers an opportunity to buy a home under market its value. With that said, keep in mind that not every foreclosure listings is a great deal. In many ways, these foreclosure listings aren't any different from any other type of listing. Buyers will find a wide vibration in these listings: some foreclosures are priced too high, some too low and some are priced about right.
If you are a first time homebuyer, you will get great benefit from retaining a professional Plano Realtor who has experience selling foreclosure listings. Hiring a buyer's agent without foreclosure experience is almost as dangerous as not retaining a buyer's agent at all. You need an agent who will make your interests their priority.
Searching for a Foreclosure Buyer's Agent
In weak or falling markets, many buyers' agents find the bulk of their sales in foreclosed home listings. If you can find an experience buyer's agent here are ways to find a Foreclosure agent:
Referrals From Friends, Coworkers or Family
Chances are someone you know has recently purchased a home. Ask for a referral to their agent, then call to inquire that agents experience with foreclosures.
Talk to Agents at Open Houses
Whether or not the host of an open house is the actual listing agent or another agent from the same office doesn't matter. Open houses give buyers a relaxed, non-threatening atmosphere to talk with other agents. You can ask the agents to describe for you a recent foreclosure transaction experience and find out how many of these types of transactions they typically close every year.
Search for Foreclosure Agents Online
Many foreclosure agents write blogs about their experiences. Review their blogs and websites to see how long they have been working with foreclosure transactions.
Sort MLS records by REO and Short Sale Agents
If you have a friend in the Plano real estate business, with access to the Plano MLS, have them run a search by limiting the returns to foreclosure listings only, and pull up the closed sales for the past six months in your preferred ZIP code or neighborhood. Look up the buyer's agent name on each of the sales, and then go to that agent's web site for more information. You can often find great value in a Plano foreclosure home just make sure your do all your due diligence and retain the services of a professional Plano Realtor.
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