[Multifamily]

My business partner and I plan to invest in multi family properties. I have been looking at properties of interest over the past few months and have been working with a knowledgeable real estate broker. I do not have a contract with the broker. We recently made an offer on a 28-unit apartment building that we knew was on the verge of foreclosure. However, our offer was low and our broker told us that there had been higher offers (including an offer by one of our broker's other clients). The property has still not sold and we just heard a receiver has been named. My partner would like to approach the bank who holds the current 1st & 2nd mortgage directly. My questions is, if we are able to make an attractive deal with the bank directly, what is our responsibility to the broker we have been using? I like her, she has intimate knowledge about the specific properties and area we are interested in, and I want to retain a good working relationship with her as we look for additional properties. Thank you!

[Fr_Chuck]

No you should not, Does your real estate agent, not work with foreclosures ? But if they found and showed you this property, you should use them to make any new offers