Then the agent said you can negoitate w/ the seller on the side to buy those at a cheap price. Is that legal? The agent is a dual agent. He hint me couple of times since the seller has no motivation to close the deal (there is no difference to him to short sale it or bank foreclose, anyway he will wake away with no money), I might want to pay him some cash on the side. The agent is kicking back 40% of the commission to the seller.
And the agent told me it doesn't matter to the bank if I offer cash. That's very different from what 如山 mentioned in his reports.
This agent is well connected w/ all the builders in this area. And he is very familiar w/ the bank procedures. He helped a lot of builders to do short sale. He is saying since the house value has dropped more than 20%, most people has no equity left in the house, all those houses have to end up short sale, especially the builders. Once the builders start short sale, the rest of the houses can't move at the price sellers want.
Are these true?