New Home Buyers
Table of Content
Once the closing is completed, you’ll have all your mortgage documents and officially have ownership of the property. You’ll receive your keys and be able to begin the moving process. Now it’s time for your closing, which is the transfer of the title of the house from the seller to you. It's very simple - If the Listing Brokerage wants to get the deal done, they can simply strike a new listing agreement, reducing the commission % to be sized only for the listing agent.
Made for the pros & those just starting out. We’re simplifying real estate (it’s kind of our thing). Finally, an easier way to search, bid & buy real estate.
Real Estate Books
You can strengthen your offer by attaching your pre-approval. This pre-approval can help determine an offer you can comfortably afford. The listing agent will just open the door and give you access to view the property.
Not to mention, agents can offer more "cash back" on the spot to finish up the deals. You don't save 2.5% by not using your own agent. People who are saying that have no idea how a listing agreement is structured. I think if the selling agent doesn't go for the 2.5% reduction then I'll look into getting my own buying realtor with cash back instead. And most lawyers I had to deal with is not someone that can review immediately and respond quickly. So if there are other offers, it's a tough sell to tell the seller to wait 48 hours for a reply.
Reasons to Rent
That is vastly different to what you're saying in number 5. The seller's agent gets the 5% as agreed to on the listing agreement OR unless they amend same. Btw - You do not want multiple representation, in other words, you do not want the sellers' agent to double-dip adn also represent you.
If you are selling, then its a different story since you are footing the bill. So, as a buyer, you dont have to pay $1 more. We basically did that for a long time til we found the place we wanted. Only then we called our agent that we wanted to submit offer.
Australia Property Investment Forums
You still need a broker/lawyer to actually make the deal and do the documents but that is better than 2 real estate agents pushing properties they have a financial interest in. The lawyer is usually the best bet if you are buying a "by owner" house. They usually just charge billable hours, not a piece of the action. OP certainly don't want multiple representation. But the seller can have OP on a customer service agreement, and that is not multiple representation.
Just go to open houses and look at listings. If there is listing you like and not as open house, contact the seller agent to arrange a showing. Just make sure you do NOT sign nor agree anything with the seller agents. Once you know how much you can spend, it’s time to select a partner for your home buying process – a REALTOR®. It doesn’t cost anything – compensation comes from the commission paid by the seller of the house. Seller agent fee, buyer agent fee and what buyer pays & the seller gets...
year old FHA loan for first property
Sure, but why wouldn't the Seller and Seller Agent agree to it, unless the Seller Agent is acting in bad faith. LOL - No one is obligated to do anything. This is such a silly point you're making and it's clearly intended to befuddle buyers that don't know any better. My guess is Jeffy is the smartest boy on the block with his failure-proof strategy! I see no reason to continue contributing when it's clear that you could/should just self-represent as Realtors are always the most useless asset on RFD.
Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. If you haven't provided verification of your income and assets in the pre-approval process, you will need to provide those documents to your lender. Also, be prepared for paperwork and questions. Understand the breakdown of your monthly mortgage and see how your income, credit scores, down payment, and debt affects your payment.
Your question is derived from the uninformed who produce comments as below. They show they know nothing about contractual obligations and only serve to give bad information to people, especially the most vulnerable like yourself who are are new to buying or selling real estate. RFD's forum has many examples of users who find themselves in a bind for doing what you ask about and what he suggests. Especially when you're a novice and you have to ask, then rest assured you're at the losing end if that seller is represented by someone who is not a novice.
If you are moving to a new area, rent for a while and look around. It is a lot easier to shop for a house if you don't need a house right away. You can also figure out traffic patterns, investigate neighborhoods, crime etc and get an idea if it is a good fit. Then start looking at the real estate resources you get for free like the paper, listing books and the internet. I would use a real estate agent as the last resort and I would direct buy from the owner if I could.
Comments
Post a Comment