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Updated over 5 years ago on . Most recent reply

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Nicole Heasley Beitenman#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
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Do I tell my realtor I have "history" with a property?

Nicole Heasley Beitenman#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
Posted

My grandfather passed away in 2013, and his house was sold a year later. It's back on the market, and I'm touring it tomorrow with the listing agent. Hoping to find a way to buy it even though I'm unsure if I can get pre-qualified for that amount. It's higher than the houses I'm looking at, but it has an apartment upstairs that could be rented out to offset the higher mortgage. I'm hoping to find private money to help. I may also look outside my usual lenders. 

Are there any pros or cons to telling the realtor that my grandfather used to own the house? It's a cute story but has no real relevance. 

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Jonathan Greene
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  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

The only reason to tell your realtor is if you thought it would help if they told the other realtor. In this case, I think it might hurt as if the listing agent finds out you have a connection to the property, they may be more likely to hold tighter on their price hoping that your sentimentality wins out. I would keep this one for yourself in this particular case.

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