I found a deal on CBRE website.

6 Replies

I found a deal on CBRE website, looking at the disclosure I noticed the seller only pays seller realator costs. So my question is what is my next step and can I contact their realtor not wanting to spend the money on my half? It is a large purchase so I don’t want to screw this up by asking the wrong person the wrong questions. The current mortgage in place is assumable, and no list price, do I assume current mortgage is equal to sale price? Thank you Mark

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

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here