Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply

User Stats

59
Posts
11
Votes
Justin Hennig
  • Investor
  • Minneapolis, MN
11
Votes |
59
Posts

Preforeclosure question

Justin Hennig
  • Investor
  • Minneapolis, MN
Posted
I'm looking at a potential cash purchase of a preforeclosure where the owner/occupier died and hired a third party executor. The property manager is trying to act as the facilitator and sent me an agreement saying they would try to get a 3% fee from the sellers estate but if they won't pay it, the buyer would be on the hook for the fee. The property manager asking for this fee is in exchange is going to show the property to prospective buyers and be an intermediary between buyer and executor. Does this seem customary and legitimate, and are there any potential pitfalls or things to look out for?
  • Justin Hennig
  • Loading replies...