Experienced real estate investors know that when purchasing bank owned properties for sale, there will be real estate agents involved.
When banks buy back foreclosed properties, they have to turn around and list them with local real estate agents.
As in any profession, the majority (of real estate agents) is really not qualified to provide you with ACCURATE information about the bank foreclosure home you’re interested in buying.
In most cases, the information provided to investors on these bank owned foreclosures needs to be taken with a grain of salt. Just think about reading the realtor remarks that describe the property in the advertisement.
Most real estate agents work with retail buyers and this practice is perfectly acceptable. Just remember as a real estate investor, gathering the right property information is totally up to you.
Never rely on property information provided by another source. Always verify it.
If the real estate agent is telling you that the bank foreclosure home measures 2.500 square feet, verify this information.
Go out and measure it yourself OR delegate this task to someone else on your team. Your success or failure as a real estate investor and entrepreneur is 100% totally up to you.
Verify everything.
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