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No, Bankrate, your assertions are wrong
I read a Bankrate-penned article this morning in the "Homes" section of our newspaper which, at least as it relates to my area, had definite errors. The article, found here in its entirety, pertains to tips for buying foreclosures. The article starts off by providing differences between buying a typical resale versus buying a foreclosure. The first two differences, per Bankrate, were:
 
Only one real estate agent needs to be involved in the transaction, and The buyer needs to provide a pre-approval letter prior to making an offer.  
The first is wrong in any transaction, whether it is a foreclosure, a short sale or a "regular" resale. Why is that? Because in general, if a buyer uses only the listing agent, they are not getting anyone to represent their needs*. A buyer should definitely use a buyer's agent in any foreclosure transaction. That agent will be the one to review the comps (a listing agent who is working for the seller will not do this for a buyer), make and negotiate an offer (contrary to the article, there can be negotiation room with a foreclosure), ensure the buyer understands issues associated with the process and what the bank will or won't do and more. The article indicated ... more

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