Agents get a commission on foreclosures that are listed with an agency, just like any other property. The listing agent should disclose if the property is going into foreclosure. Have your agent do some checking.

If it is listed as a rental, there is very little chance it has gone into foreclosure. I don't know of any bank that voluntarily gets into the rental business. A bank would want to sell the property asap and get it off the books. That is why foreclosures can sometimes be good deals.

If you like the property, you can always test the waters with a low offer. If it has been sitting on the market for an extended time, the sellers may be willing to accept anything they can get. The only way you are going to know that though is to put in an offer and see. Until then, you are just guessing.

Thanks for the advice. I wonder if it is proper for me to contact the listing agent directly without involving my agent. I just want to know if the property is in trouble.

Jane

Jane, you know the answer to your question... USE YOUR AGENT! She can get the information for you quickly.
And, you need to let her know if you are looking for a rental or a purchase. You need to respect her time and energy.

Thanks realestateguy, I double posted. My question is based on renting. Just thought if this place was in trouble, we might get a good deal on it...might be worth buying. She'll check on the status.