how much time should home buyer of low cost houses expect from an agent? based on price range? (bank owned)

[howard555]

How much time should a home buyer of a foreclosure or other low value home, expect from an agent?

so many hours of time per $25,000 of sale price?

I have a current situation where the selling agent made errors and mistakes and frankly fibbed and caused delays.
These agents may meet again in the future on some deals, so agents can not make enemies. My agent is rather taking their frustration out on me.

I was given, by the rules, 10 days to:
day 1 offer accepted
then arrange inspection, have inspection, review results, call around for estimates on repairs, submit repair request to bank by day 10 or lose earnest money.
Now "we", well I might as well say "I" am waiting on the bank to say yes or no to the repair.
My agent told me if I was walking, to do it today, and not after the bank says yes.
So, I can easily see my agent wants no more time spent on this house.
We looked at another one today and it would be an investment-rental.
The agent's cordiality has changed.
They did make a commission on an expensive house that was sold 9 weeks after listing back in July.

I know time is money but buyer's do not want to be pushed into deals.

Howard (naeem was my long time user name on hotmail and that account needs to close due to spam, junk, and I found no way to edit my e-mail address so I changed my user name to me, instead of the name of an old friend in Isreal)

[creekgirl4life]

Most bank owned property is sold 'as is'...lucky you have option to submit repair request. Many times inspections are for informational purposes only and findings do often result in requests that seller pay or give allowance at closing but more often than not seller will refuse and per contract terms deal with earnest money.
Your agent must have a crystal ball if they tell you not to wait until the seller says 'yes' to your request. On the 'how much time' question, regardless of price of property if you have hired and agent to represent you the answer is "as long as it takes".
Good Luck with your purchase!

[howard555]

Originally Posted by creekgirl4life

Most bank owned property is sold 'as is'...lucky you have option to submit repair request. Many times inspections are for informational purposes only and findings do often result in requests that seller pay or give allowance at closing but more often than not seller will refuse and per contract terms deal with earnest money.
Your agent must have a crystal ball if they tell you not to wait until the seller says 'yes' to your request. On the 'how much time' question, regardless of price of property if you have hired and agent to represent you the answer is "as long as it takes".
Good Luck with your purchase!

The Fannie Mae listing did not say "as is". I've been sent 100's of under 60K listings and many say "as is" and many do not, so it sounded to me like the ones that do not say "as is", are not so.

This is a foreclosure and we asked for a replacement water heater early Thursday and the bank asked for an estimate on a replacement water heater late Thursday Thursday. Since the banks do not use the selling agent's contractors, there is a delay is getting a yes or a no. They did not say no, they asked for an estimate. Maybe they replace it, maybe they take 50% of the estimate off the sale price.

Well, I'm looking at foreclosures and all are under 50K, so I'm told that agent's are going to get tired of showing alot of these type houses. And you really can not tell from the photos what is bad or good. We have viewed a couple and the photos looked like you were buying a hotel. Once we entered the door, ugliness and repairs everywhere.

My agent is just tired of this particular house and they stated "alot of people have alot of time in this sale, if you are going to walk even when the bank replaces the water heater, then walk now" (Friday)(so they can find a buyer who gets them the commission soon).
My agent has worked with me on buying for 10 months, shown me maybe 10, gotten me permission to view 4-5 alone, and helped me sell a relatives house and it sold in 9 weeks so that was a fairly quick commission.
These low cost houses have problems and you do not know what they are until you look around inside. I am in no way trying to waste the agent's time but they seem to be tired of helping me search for a low priced house where my criteria are price, location, and condition. It's not easy to find all 3 in these lowe priced houses. I've found 4 I liked in 10 months.