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Additional Details
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*me* | Can I terminate my contract with my realtor and buy a house directly from an agent that owns it?.? |
Even though the realtor showed us the house, is it too late to just go directly to the owner who is a realtor also, and buy the house from her?, and will this save me money?. We have already put a bid on the house through my current realtor. How do I find the name of the realtor that owns this house I want?.
Additional Details
Sorry everyone, I wasn't trying to screw anyone over as some idiot suggested, I didn't think the owner/agent would mind selling me the house herself. I didn't know it was a crime to try and save a buck. I am not a realtor, so that's why I asked!. |
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Rick B
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YEs, if she showed it to you. You really think the owner (who is an agent) is going to be looking out for your best interest?!?!?!?!
If you are buying from an agent you REALLY need your own representation! And, like the previous poster stated, the seller pays the agent. |
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Dave87gn
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huh, the buyer doesnt pay the realtor, the seller does |
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kapn
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Nope........he will sue your @ss..........and rightfully so.........looking for trouble...........your gonna find it............ |
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Christine R
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There are specific legal requirements about this. If the house was listed on the open market when you saw it and your realtor brought you through, she is legally entitled to commission, even if you wanted to go back again direct to the owner. This is actually more of a problem for the owner, as she pays the fees to both the buyer's and the seller's realtor. However, your realtor has done work with you. She's taken you to the house, she's helped you put in a bid, and this is the way she makes a living. Why do you want to take that from her? |
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ranger_co_1_75
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The legality of it is a little confusing. The owner of the property has a contract with the real estate sales company. Not you.
You don't have any liability unless you have given earnest money, and then back out after the owner accepts your offer. The owner and listing real estate company can split your earnest money.
You can go to the owner of property for sale at any time an ask to buy the property directly. The owner of the property can get into legal entanglements by breaking his contract with the real estate company, but it will have no effect on your ability to buy the property.
An important issue is whether the owner gave the Real Estate Company an Exclusive contract or an Open Contract.
If the listing is an Exclusive, then the owner is legally obligated to pay the Real Estate Company a commission even if the owner sells it himself.
If the owner signed an Open contract with the Real Estate Company, then anyone including the owner can sell the property. If the contract is an Open contract and the owner sells the property he does not have to pay a commission. |
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hanora
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Sure you were trying to screw the real estate agent that showed you the house and that put in a bid for you. You can call it saving a buck but it's screwing your agent. You use someone's services - you pay them. Or if you're a sleeze you use someone's services and then you go online to try to find a way to avoid them getting paid. Nice. |
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SugarCube
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You're asking for a lot of trouble and a potential lawsuit here. I would caution you to tread these waters carefully. |
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LE
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Yes, you were trying to screw the realator that showed you the place. Are the people that pointed it out idiots for stating the obvious, or are they idiots for calling you out on being a thief?
Do you think they were just showing you places b/c they liked you? The money you would be saving is called their commission, isn't it?
Thats called 'snaking' someone, and it can get you in big trouble in the real estate business. |
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Dale H
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If that the agent who owns the house is smart, they would not let you. They would probably be the ones to get sued unless you had a buyer broker agreement with your agent and then they will sue you both.
What are you trying to do? Save money? If that is the case, why did you offer what you offered in the original bid?
The truth is while the commissions come off the sellers side on the HUD the buyer is paying the commissions as they are included in the sales price. All else being equal, a house could be sold for less if there were no commissions involved.
You would be ill advised to pull anything at this point even if you could find out who the property owner is. However, you can usually find that information on-line at the county auditors website.
Look up Karma and see what you think you should do.
Good luck. |
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n2mama
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You put a bid through your current realtor and now you want to screw them out of the commission? That's not going to fly. And even if you were able to do that, buying directly from the realtor who owns the house probably won't save you money, since they'll probably have you sign a duel agent paper. Plus, the seller pays the realtor commission, not the buyer, so why do you want to drop your agent? |
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David Sterling
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who cares about the buyers realtor. They all suck. Screw em all.
Real Estate agents are as low as attorneys. I have dealt wtih them all.
Screw the banks,screw NAR , now that;s a good organization, David Learah was so ethical!!!!!!!!!!!!!!!!!!
Next time I buy a house, I will use the realtor to use his gas to drive me a round, them dump him and buy it own my own.
I have as much ethics as a real estate agent. |
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