 Could I afford to buy a house (or a condo or some other dwelling) on a yearly gross income of about $38,000? |
| I live in Silicon Valley and I currently rent. I am single and just curious if it would reasonably be possible. Also, I only have about say maybe $4000 or $5000 I could possible use as a downpayment.... |
|
 Why are real estate sales so SLOW now here in Miami? |
Why are real estate sales so SLOW now here in Miami?
I want to know because i've been trying to sell my condo and it has been already a month and half and only one person had come and seen ... |
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 Can my landlord do this? |
| I just moved out of my apartment before the lease was up and I was under the assumption that they would just keep my deposit. They are trying to say that I have to pay the next two months rent plus ... |
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 Mortgage going up by a thousand dollars. What will my bank do? |
I've stopped paying my 2 mortgages because I just can't
afford it anymore since one of them went up by a thousand
dollars. What can I expect my bank to do? I put my house
... |
|
 Is the tenant or landlord responsible for damages to home fixtures caused by a burglary? |
| tenant made a police report, but did not tell me of damages for over one month. The toilet & 1 window was broken and a few small holes in bedroom walls. Is it the landlord or the tenant who is ... |
|
 Mortgage lenders? |
I'm looking for a good Mortgage Lender for a new home purchase. Does anyone know of a good one? I've tried quicken loans and country wide. Lending tree sucks!
PS. If anyone ... |
|
 If you are a landlord, would you rent it to family, relatives, and friends? |
| I have bad experiences renting to relatives because they tend to take advantages of me. If they don't pay you late fees and rent, it's very uneasy to ask them because they will take it ... |
|
 Standard real estate agent comm is 3%. If I offer buyer agent 6% will I get much more traffic? |
| My listing agents have underperformed. I am highly motivated to sell my home. I am experienced and willing to "sell by owner". I'm wondering if double commission idea has merit/... |
|
 When can a new homebuyer refinance? |
Bought home in April 2006
When can I refinance to-
1.combine mortgage 1+2
2.Get cash out to do home improvements?
I bought the house well under market value but with no cash down<... |
|
 Got a mortgage refinance quote: Too good to be true? |
| A mortgage broker quoted me a refi of $235K with adjustable rate loan at 1.2%, and the monthly payment can increase by only $77 per year. Does this sound too good to be true?... |
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 Is it common for most people to not know the differences between Foreclosures, Short Sales, Preforeclosures,? |
| Is it common for most people to not know the differences between Foreclosures, Short Sales, Preforeclosures, and Bank REO properties? Is this something that needs some additional clarification for ... |
|
 My boss owes me over $5000 in unpaid income. I want to send a letter to all the people he does business with? |
| I want to tell them he refuses to pay me or return my calls. I want them to know what a scumbag he is. Can he turn around and sue me for talking to the people he does business with and telling them ... |
|
 Mortgage question? |
| Parents have a two homes they own free & clear and going to put one up for sale after they buy a home soon.(like within a month) Both are on SS with total income of about 1800.00/month. C... |
|
 I want to sell a house that I inherited. What happens if a lien is found? |
| I inherited a house a few months ago from a relative, that I have been caring for the past 5 years. I am living in the house, but I want to sell it, and move somewhere else. I was wondering if I ... |
|
 Can you be billed more then your deposit when you move out? |
| In the state on Minnesota. When you move out of an apartment or rental property, can they try to tell you to pay them more then your deposit was, for cleaning or repairs? Or would they have to sue ... |
|
 I have bad credit and need an apartment? |
| I live in the city and everyone does credit checks, my credit is horrible, and i am working on getting it fixed, but that doesnt really help me now. What can i do?... |
|
 If you own a beach frount property? |
| do you own all the sand and water too?... |
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island_nomad | Weird question... My RE agent flipped out when I asked him how much I was paying him? Thoughts? |
My thoughts are that I am fully entitled to be crystal clear about any and all expenses that I should expect down the road. What are your thoughts?
Additional Details
For the sake of clarity... He is representing me (the buyer) in a transaction. I have asked him how he expected to be compensated and he gave me a wheeler dealer answer that said he would lower his commission if he wrote my loan too. But lower from where? Are short sale different where commission is concerned? What he get's from THEM is none of my concern. If he gets lots, bully for him. What I want to know is what I am expected to pay him. Seem fair to ask up front? Shouldn't this be resolved already? Can't I shop around? There is no state mandated rule that stipulates the commission rate is there? |
 |
 
Landlord
|
Wow, this guy is SCUM!!!
You are not expected to pay him a dime!!!
Don't do a loan with him! If he is this big of a scuzball there is no possible way you should trust him with the loan too!!
Run away!! Far Far away!!!
This a** is seriously bad news!! |
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Debra G
|
If you are the seller, you should know how much you are paying him. That should have been discussed when you listed the house with him. On the listing contract it should have a percent of the selling price...like 7%, 6%, etc..., this is often negotiable. If you are the buyer, you shouldn't be paying him anything. He splits the commission with the sellers agent. AND YES, you are fully entitled to be crystal clear about all expenses, it is your money not theirs.
EDIT: In a short sale, you are the buyer, and you still don't pay him commission...NOTHING! The bank takes care of that, not you. I wouldn't let him write a loan for you either, he sound like the kind of guy that would charge a whole bunch of "junk fees." Buyers do no pay the Realtor in any transaction...PERIOD. Find another agent! |
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#1 Super Guy
|
I would switch agents immediately. That should not be a strange question at all. In fact, it is a matter that can often be negotiated. Sounds like maybe this agent is trying to put the screws to you... |
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estielmo
|
It does seem weird, because the seller is the one who pays him unless he is your official Buyers Agent. It would make me think that there are a number of "junk fees" included that he gets a piece of.
I'd dump him and find a ceritified Buyers Agent, whose sole job is to protect YOUR interests. |
|
I Buy And Sell Houses
 |
In your agreement with the agent, it should be clear what you will owe to the agent IF the commission is not paid by the seller. In almost all cases, the commission is paid by the seller. However, it's possible (for instance, a buyer's agent representing you buying a for sale by owner property) that the seller may not be willing to pay a commission.
In a short sale, the commission is paid by the seller. A short sale is like a regular sale, except--because the sales price won't cover the existing mortgage(s)--the sale is contingent upon approval of the lender. So, it's possible that the lender may require a lower commission be paid.
In a foreclosure, the commission is paid by the seller--the bank. Usually, the commission is under whatever the norm is for the area--for instance, perhaps 4% if agents typically are asking for 6%.
Again, your paperwork should be very clear about the conditions under which you owe any commission to the agent. And the paperwork should be clear about what that commission can be.
As a result, you not only are entitled to ask your agent those questions, but you should ask those questions, whether or not the paperwork is unclear.
I also don't like the linkage of using him for the mortgage as well as the sale. It's not unusual for a real estate agent to offer a discounted commission if a person agrees both to sell a property and to buy a property using the same agent. But tieing a commission to another activity, such as writing a loan, makes me uncomfortable.
Yes, you can shop around--for real estate agents and/or for lenders.
I don't know the laws of your state, but, no, there should be no "state mandated rule" stipulating commission rates. Commission rates are negotiable. Period.
Hope that helps. |
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Bubbles
|
Flipped out? Get rid of him- my agent gave me a printed out form that outlined every penny that I was excepted to pay.
He sounds shady- pass him and get a new agent.
Try coldwell banker- I really like them! |
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Cgurl32
|
about 2 years ago i bought a mobile home and I get severely screwed! he told me the seller was asking for 3500.00 dollars for a down payment. I asked him if it was gonna go towards the trailer he said YES. when I asked him for the amount of the trailer he told me and I asked him if that was after the 3500 he said yes. so when i made the check i put in the memo ( down payment on 1995 mobile home and the put the serial number)anyway the 3500 dollars never made it to the finance company. now he is saying it was his commission. I finally got to talk to the lady who owned the home a year later and I was furious with her till I found out she never knew NOTHING about the 3500 and we both pay 250.00 each for the paper work,now I have charges filed against him with the DA for fraud........me and the seller never met because he purposely lied and told both of us that the other either didn't want to talk/meet the other or just couldn't get a hold of the other. sooooooo please be careful. anyway i have spoke to so many different people( lawyers, board of realtors in my state, ect.) and they all told me that any expenses that you have to pay HAS to be agreed on by you. good luck and godbless! |
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chatsplas
|
He has no right to flip out, and if you haven't gotten an executed contract, I'd consider working with some one else.
Unless he's a buyer's agent, he is actually paid on your behalf by the seller and you pay him nothing directly. The selling and buying agents split the commission between their offices, their brokers and themselves.
You are right to want to know ahead of time what your expenses will be. You didn't understand how realtors are customarily paid, and that's no reason for him to flip out. |
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glenn
 |
I have been a real estate agent for 30 years. I never minded any question about that kind of thing.
Everyone involved should know how much I am getting paid (including any bonus or other fees). They should know who I am representing. Everyone should know what relationship I have with other people involved in the transaction (Have I worked with them before? Do I go to church with them or my kids go to school with their kids? Just any kind of relationship should be made known.)
There is no state or federal regulation that standardizes commission. Quite the opposite the federal regulations outlaw the idea of a standard commission.
I think your agent wants to keep things secret. That would worry me about what else they may be keeping secret. |
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doinou
 |
If he represents the seller, it's none of your business how much he is getting paid by the seller. If you have agreed to pay him to represent you, you already have that information. |
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