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| My Aunt and Uncle just sold their house and are having the feeling they were ripped off. They sold it for $114,000. It was worth $150,000. They left all the appliances including a stainless steel ... |
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| Hey, Due to various personal problems I have not paid rent, I just have'nt thought about it. I know I have been dumb so please none of that. They have sent me a notice seeking possession and it ... |
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| I have never been late before but just having a tough month right now. what are my rights...? i dont want to loose my place.... |
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| Im 25, I am in shock when i see my friends (same age, same entry level income) go out and buy 250k-300k houses like its nothing. They dont have 20 bucks to fill up the gas tank but they can afford 2... |
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 My landlord took me to court so he could legally evict me from his premises.? |
| So my eviction was for Sat., Oct. 15, 2006 @ midnight. Around 1:00p.m. that Sat. I came home to 6 people, the landlord, his 2 old enough daughters, step-son & his wife, as well as his friend, ... |
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 What does this mean for people who have their mortgage with IndyMac? |
You need to see this article to understand the question
http://news.yahoo.com/s/... |
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Destiny's Euphoria | If you were a home buyer, how would this statement make you feel or react? What would you do? See details...? |
Let's pretend you are in the market to buy a 500K home and have been working with a Realtor. After all, why wouldn't you work with a Realtor? They are free for buyers, the seller pays the commission. You drive by a home that just went on the market. It has a sign in the yard with a website address. You get excited and run home to look at the website. You like the home and want to see it. You read the following statement on the website: Buyers are welcome to bring their realtors to represent them and I will cheerfully pay their outrageous commission. But do understand that this will impact the bottom line sales price on the home. Once you bring your realtor, commission must be paid. The fee will be about 3%, which is approximately $15,000. Unless you have a signed contract with your realtor, you may view the home without him. Should you decide to buy, you can have a real estate attorney represent you for about $500-$1000, which I will also cheerfully pay. Please choose carefully.
Additional Details
So, as a buyer, would you be happy that this seller has stated the obvious? Or would you feel offended that they suggested that the commission will be rolled into the sales price?
Would you get an attorney or bring your realtor? |
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Ken
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First, lets address the erroneous assumption that the seller pays the realtor. The seller doesn't pay anything, the seller receives the payment from the buyer. Since the seller doesn't bring any money to the table, why do so many people assume that the seller pays the realtor's commission. It is because it is taken out of the buyer's money before the seller receives a check. However, sellers determine the net that is needed to sell a property and then price it accordingly.
As for whether I would consider the above scenario. Do you have loyalty to your realtor who has shown you several houses already? $15,000 worth of loyalty? It is great that the seller marketed the property in this way so that the buyer realizes that it is he or she who is paying the commission. Realtors, of course, will hate it because they would rather buyers not think about this. Is the property really priced $15,000 below the market in that area? $7,500 below market (allowing the seller and buyer to split the $15,000 commission price?).
On top of the fee savings, you are more protected with an attorney at closing than a realtor. Realtors have lobbied to make themselves almost legally invincible when it comes to their mistakes. They receive approximately two weeks of training in most states and are sent out to sell homes.
There are many, many knowledgeable professional real estate agents out there. There are also many that are not. I would save the $15,000 and get an attorney for the closing. |
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Drew
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Buyers. Agents claim the seller pays the commission, but always fail to mention that the seller gets that money from the buyer. Think about it: who brings the money to the table - the seller or the buyer? All money comes from buyers. No buyer, no money.
And one other thing why did you agent not tell you about this house? was it not on there listing? You did there job, the reason why it may not of been on there listing is there are several MLS and many none listed home for sale" black balled by FSBO. Each time a property is not on the list or you do not see it this will create a false shortage and thus drive up prices.
http://www.breakingbubble.com/
What is needed is a open and publicly assailable" search able web site" That is mandatory and ran by the country assessor office. Then and only then will you have an open honest and transparent property market. Till then how would you ever know that the is not a better bigger cheaper home that you would like better. |
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okwriting
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They're being honest, which, to me, is a good thing. They're stating, up front that they'll pay the realtor's commission or the cost of the lawyer, but that they'll tack on an additional amount if you use a realtor. If it was me, I'd weigh the advantages of the realtor against the lawyer and go with it. They're just trying to save a little money while selling their house. In today's economy, I don't blame them. |
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BoomChikkaBoom
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He is being very up-front with you, doesn't want to cheat a realtor if you have a signed agreement, and he has a sense of humor.
If you have a realtor, he won't be coming down in price. He is making that clear at the get-go.
How would I react? I would go see the place; with my realtor if I had a signed agreement and without my realtor if I didn't. |
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pink longhorn
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i would be glad they offered the information, and take the cheaper of the deals. Sounds like the attorney is the way to go. |
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Holliday
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personally, i dont make any major decisions without my attorney's advice......... |
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Jill knows best
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I would tell them I want to see the hose an am intrested but will not be paying the extra fees |
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SPIFIMAN1
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He is trying to save any potential buyer money.
If you go with a realtor, he has the right to increase his selling price to cover the expense involved.
Other than you going to view the home and say you buy it, and then your realtor finds out? I really do not see the problem. |
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Alterfemego
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I would walk away. Must be a For Sale By Owner. And this is the reason, most people will not deal directly with the owner.
The price of the house is what the market will bear and that is determined by the buyer. The price always includes the commission, you can not add it on top of the price. |
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darinalvarezrealtor
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First off I would be wary of this seller. Why is he trying to get you to choose how you want to buy this property? Is he trying to cheat you? Second the point has been made that in reality the money for the agents commission comes from the buyer but is taken out of the sellers profits. You as the buy have a say in the price. If the seller doesn't want to sell it to you and pay the commission at a price you want that's their problem, don't let the commission become an issue with this seller, it never is with a agent represented property because it has all be prenegotiated, all you are negotiating for in those deal is the home price, do the same thing here. |
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