Why on earth would you assume the mtg balance is the sales price?
You can use the listing agent but if he agrees he won’t “represent you for free” and he is also obligated to the seller.
@Wayne the flyer didn’t have a price. Just information on the current assumable mortgage. I read the contract and there is a 1%!transfer fee. That would be 650k. Other than those two figures I couldn’t see an asking price.
Are you currently working with a broker? Have them reach out to the listing agent and pick their brain.
I know as a broker myself, if a buyer came to me and was forced to pay commission to me, I would be totally understand if he wanted to go off and buy something without me. This business is all about relationships, so your broker should know he/she sometimes has to work for free if he/she wants to stay on your good side the rest of your investment life.
See what your broker can do. They have resources that common folk won’t be privy to
@Ted all my real estate is in Iowa, my Target property is in Chicago. I have no connections. It’s a large commercial property, my first step is to see if I would qualify for loan assumption, before talking to the broker and making an offer. Then if needed, crowdfund for any remaining funds needed.
You think you found a deal...you have no idea what the asking price is.
This is a $65 million dollar mtg and you're on here asking these kinds of questions?
If you're serious, find a competent commercial agent or a RE attorney.
@Mark Holmes I have a close buddy that works at CBRE in chicago. If you need local assistance in the future, let me know man. Best of luck
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