Updated over 9 years ago on . Most recent reply
Seller vs Agent Stories
A few months ago I was interested in a multifamily I found on the MLS. I called the seller directly and he told me it was a good property but would only accept cash because the original buyer's funding did not come through.
Fast forward a few months later and I saw the same property listed for $11,000 less. Now I have an agent and I asked the agent to call. The agent told me the property was in need of repairs and that the seller would only accept cash because if any mortgage company gets involved they would not sanction the loan due to the property not appraising as high. So for that reason the seller did not want to get any buyer with a loan only cash.
These 2 stories are very different and I am a little surprised.
I'm a little confused about How/Why the seller could avoid telling me about the repairs needed but instead tell the agent more detailed information. Also I am wondering if this means that I should not contact sellers directly about the properties and just use agents to get my information?