How to Buy a #Foreclosure With Cash #Homebuyer #Massachusetts #RealEstate

Thinking about buying a foreclosure with cash? Use this guide to understand how.

Buying a foreclosure in cash: A step-by-step guide

The exact process for buying a foreclosure with cash really depends on the venue — whether you’re buying through an auction or purchasing directly from a bank. For clarity’s sake, let’s look at the process in each scenario:

How to buy a foreclosure with cash at an auction sale

Buying at a foreclosure auction is unique in that you’re up against other buyers live and in real time. Additionally, you’ll have to deal with the rules of the auction house, which tend to vary wildly depending on where you’re buying.

Source: How to Buy a Foreclosure With Cash

Who Pays the Home Buyer's Agent?

Both seller's agent fees and buyer agent's fees are part of a typical real estate transaction and are included in the final negotiated purchase price of the property. There should be no additional fees to the buyer for a buyer's agent above and beyond the negotiated purchase price of a home unless specifically agreed in writing between the buyer and agent before an offer is made.

In most cases, the seller's agent pays the buyer's agent for bringing the buyer, negotiating the purchase price and terms, writing a legally correct offer, coordinating inspections, responses, and financing plus handling numerous additional details on the buyer's side of the transaction.

Buyers should avoid contacting seller's agents and sellers directly unless they are comfortable negotiating and representing themselves. That is why it is important for buyers to choose their agents BEFORE they begin looking at homes or as soon as possible if they have begun looking.

Did you know that fewer than one percent of the agents and brokers in Massachusetts have committed to being 100% loyal to their buyers 100% of the time?

To learn more about the pros and cons of various types of buyer agents, or to get a list of experienced local 100% loyal buyer's agents to interview without obligation, click the button below.

 Find a Great Buyer Agent!

Selecting the Right Homebuyer's agent

Unlike most other real estate agents, a MABA home buyer's broker never represents both a buyer and seller in the same transaction so you never have to worry whether a MABA agent is really looking out for your best financial interests. A MABA buyer's agent acts as your advocate, real estate educator, advisor and negotiator, always loyal to you and dedicated to helping you find and buy the best home with the best terms at the price and showing you which homes to avoid along the way.

Fewer than one percent of the agents and brokers in Massachusetts meet our high standards. 

Whether you are ready to buy now or just beginning your home buying journey, click here to choose a Great Buyer's Agent to answer all of your home buying questions!