I was interesting in buying a house that is for sale buy owner?
Monday, November 23rd, 2009 at
4:15 pm
I have my own realtor but the seller , don’t want me to use my realtor so he want have to buy him comission. He said he would let me use my realtor but he would up the price of the house. So he could pay him commission and still get the asking price of the house. But then it would be more than my loan approval.The seller said he would give me a warranty for a year for piece of mind. So that makes me feel better. If I don’t use my realtor would I be spending more money or less. How does it work when you buy a house for sale buy owner? I’ve only looked at house that real estate agents are helping to sell. Will I close faster this way. Please give me your advice. Also who handles all the paper work.
Related posts:
- house for sale. I have a house that has been on the market going on 2 years. It’s been with the realtor since then. We are selling the house for what it will cost the pay off the mtg and pay the realtor.. I was thinking of doing A by sale...
- How long til we hear an answer on a short sale house? We looked at this great house and offered a few over asking. That was about a month ago. The house was so close to foreclosure that they pulled it...
- Suggestions to promote fast sale of house? We are trying sale a house in Neosho Missouri and relocate to Arkansas. I already have a job and am in Arkansas, but my husband isn’t. Its not a...
- Need advice on selling my home FAST? 1 year ago we bought our first home for 74,000. It is a manufactured home on 2 acres with 4 horse pens, 2 chicken pens, a large workshop, a...
- Is there a cheaper way to advertise a home for sale? We need to sell our house fast and for a good price, and we can’t afford a realtor. Even for sale by owner.com is too expensive. Any other ideas?...
Tagged with: Asking Price • Piece Of Mind • Warranty
Filed under: House Sale
Like this post? Subscribe to my RSS feed and get loads more!
WOW YOU ARE LOADED! A month ago you signed a contract to buy a house, and here you are – buying another one. I am truly impressed, and very interesting in YOU!
you really don’t need the realtor when buying from a owner.. but you need a inspector 2 check and make sure the house is up to code.. and a lawyer 2 read documents.. the owner handles the paper work as far as i know.. very good that the owner will give you a year warranty..
You might ask your Realtor what value he/she adds to the transaction. Since you’ve already found the house at a price you like, I don’t think you need a Realtor; but you do need a real estate lawyer to make sure the owner legally owns the house they’re selling as you could end up owing money to other people too. You also want to get a warranty regardless.
I bought my house without a realtor. We and the sellers had to figure out how to do the closing paperwork. We did it all through the title agent. We didn’t use lawyers, as the title agent does the property search to make sure the title is clear. You and the seller make a better deal because neither one has to pay the realtor. But it takes a lot more leg work on your end. If I was going to sell my house I would try to do it without a realtor or with one of those bargain ones like Help U Sell as frankly the commissions they get are a lot of money. Closing costs on a 200,000 house were about 6000 altogether anyway, just for title and taxes etc. The house I bought was a handyman so there wouldn’t have been any type of warranty anyway. It let me get a house for less than the market in my area as houses in my neighborhood start above 300,000.
walk away. The seller should never pressure the buyer to not use his/her agent. As for the warranty, this is standard, don’t let him make you think he’s doing you a favor
I would use a realtor to protect youself. But, make sure your realtor doesn’t pressure you. Some bad ones only watches for their own interests.
As for warranty, it would be difficult to actually enforce it later should you want to collect from him. So, I would ask for discount instead of warranty.
The U.S. housing market continues to slump. There is no reason the owner threatens you with higher asking price if you want a realtor to represent you.
These two describe current housing market situation:
This article is teaching buyer how to lowballing.
If seller wouldn’t give in, would you consider delaying your plan a little bit? Winter is approaching, seller will have hard time finding a buyer. As the market going through a correction, it is better if you delay a few months to save up to 5 to 10%.
The commission rate is negotiable, so find out what the buyer wants as a final price and go from there. If you cant get a mortgage for that extra amount, then dont buy it and keep looking. There are plenty of homes available.
Assuming you are serious, you should read the contract you signed with your agent. You may have to pay them regardless of whether or not they work with you on a FSBO.