Updated almost 6 years ago on . Most recent reply
Buying a foreclosure/REO property without an agent?
Is it possible to purchase a foreclosure property without an agent (via no agency / ministerial acts) in Chicago?
I have purchased other properties without an agent... but not sure if the rules are different for foreclosures. I found the property myself, and would not prefer to have a buyer's agent essentially collect 2.5-3% from the seller (the bank in this situation) for really doing no work.
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- Real Estate Broker
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@Mitchell J. why in the world wouldn't you want to have an agent on your team? A lot of my clients purchase deals without me being involved, but they consider me part of their team and use me when the situation is appropriate. You can technically buy a property without an attorney in Illinois to, but why would you??? They only cost $600-700, and they watch out for your best interest. The same can be said for inspectors, accountants, contractors, etc.