Is it possible/feasible to get seller financing when a realtor is already involved? How does that work/what should I offer in that case?
Yes, but the realtor needs to get paid, and there are 3 ways:
1. Since you cannot not expect the seller to bring money to the deal, you will have to put enough on the table to cover the down-payment, if there is one, and the RE commission. If you are a good negotiator, perhaps you can negotiate that the seller pay realtor out of the DP. And if you are really good, perhaps you can negotiate that the extent of your DP is just to cover commission and transfer costs...
2. In some cases, the realtor will take a lien against the real estate as payment.
3. Finally, sometimes realtor will want to be cut into the deal in lieu of commission.
The 2nd and 3rd options are complicated by the fact that most States require the agent to work under a broker, in which case the broker would have to participate in the agreement, or you will have to come up with enough cash to buy out the broker's commission, at which point the agent can do whatever they want for their split of the commission.
Hope this helps, @Taylor Hupfeld
is absolutely right. However, there may be good news none-the-less. If you're looking at a property that is represented by a smaller brokerage you'll have a LOT more room to negotiate, especially if the property just got listed. There are some brokers in the Pittsburgh area that will terminate their agency agreements with sellers if the three of you can agree on a fee to satisfactorily compensate the broker's time and effort to date.
I'd be happy to discuss this with you further.
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