I was looking at the properties on homepath and as many of you know, you need to have a realtor submit an offer on behalf of the buyer/bidder. My question is, if I'm looking at a property out of state does my realtor have to be licensed in that property's state? or can they just be from any state?
edit: What about just contacting the listing agent from homepath and submitting a bid that way? is that feasible?
The realtor you use has to be licensed in the state where the property is located.
I am sure the listing agent would jump at the chance to submit the offer for you as it would basically double their commission.
John is absolutely right. If you are interested in investing in Detroit please let me know. I can walk you through the whole process and show you deals I've done. I also have homes for sell now with tenants already in them for as low as $25,000.
They definitely have to be licensed in that state. Contact the agent, show them you're a serious buyer, and the listing agent should be more than happy to help you (or at least someone from their office).
As everyone has mentioned, your agent has to be licensed in the state you are buying in. Be mindful, some states (not CA) do not allow agents to both represent the seller and buyer due to a conflit of interest. Something to be mindful of.
@Michael Johnson they have to be licensed in that state. Also I believe that Homepath does not allow dual agency even if the state does. So you will need to have your own agent. What I would do is just ask on BP for a referral to an agent in whatever state it is.
Thank you for the input guys. As usual, you are punctual and scholarly!