Real Estate

[PenMarie]

I'd definitely recommend having your own real estate agent (buyer's agent) to represent you. The realtor your working with right now is actually working FOR the seller to sell their house -- so instead of splitting the commission with another realtor (your buying agent) she'll get the full commission, so of course, she's working hard...even still, she is representing the seller, and not necessarily you. I'd want a separate agent to represent you in buying the house. I like the offer that Ann proposed.

 

BEAUTIFUL house by the way!!

[Kat81]

Quote:

Originally Posted by Christa DO NOT FEEL BAD if you decide to change realtors!! I suffered from similar feelings about mortgage brokers. You are money to them, so you need to make sure you are happy & comfy with the professional you chose to represent you. I know girl, this is a stressful thing - buying a house - and it's not time to set aside your best interest.

You are totally right. I have a bad problem with doing that lol.

[Kat81]

Quote:

Originally Posted by PenMarie I'd definitely recommend having your own real estate agent (buyer's agent) to represent you. The realtor your working with right now is actually working FOR the seller to sell their house -- so instead of splitting the commission with another realtor (your buying agent) she'll get the full commission, so of course, she's working hard...even still, she is representing the seller, and not necessarily you. I'd want a separate agent to represent you in buying the house. I like the offer that Ann proposed. BEAUTIFUL house by the way!!

Thanks I love it... other than not having a fenced yard it is perfect!!

[Kat81]

Quote:

Originally Posted by AnnR in the markets that i am familiar with (not yours!), i'd usually offer something like $245K or something, and expect to meet somewhere in the middle. but again, it depends on your market, and also the current condidtions, how long it's been on the market, etc.

Yeah, my FI and I were thinking about starting at 250. Just so much to think about lol... I can't wait until this is over and we are moving into a beautiful home.

[LCBride2007]

Quote:

Originally Posted by PenMarie I'd definitely recommend having your own real estate agent (buyer's agent) to represent you. The realtor your working with right now is actually working FOR the seller to sell their house -- so instead of splitting the commission with another realtor (your buying agent) she'll get the full commission, so of course, she's working hard...even still, she is representing the seller, and not necessarily you. I'd want a separate agent to represent you in buying the house. I like the offer that Ann proposed. BEAUTIFUL house by the way!!

well, the other way to look at this - you could/should negotiate her commission with her. if she's getting both sides, then she should be willing to take less. although you're not selling a currentl property, are you? but it could still work - if the realtor agrees to take less commission, the seller will pay less, and might be willing to take a lower offer.

[TammyWright]

Quote:

Originally Posted by Kat81 Yeah, I am. She is representing the Seller though too. So, I don't really want her advice LOL. It's a small town so she is really my only choice.

can you find someone else that will be your representative? when i was in RE i did not double end it unless the clients were very savvy and totally ok with me doing it.

if you are a first time homebuyer you def. want someone as your advocate.

[Kat81]

No, I am not selling another property. I think you girls are right I need to talk to another RE Agent. My FI is out of town on work. I will see what he says when I get ahold of him. Good ideas girls thanks!

[Heidi]

We're going through this right now. We made an offer this past Sun and it was accepted on Mon. We have a realtor who ONLY represents Buyers. It's SOOOOOO wonderful having her. She answers all of my silly questions as a first-time homeowner. We're running into lots of little problems now and she's there helping us through EVERYTHING!

 

Also, here's a heads up for you that we weren't given until TODAY - you're going to need a good $7-10,000 for closing costs alone!!! YIKES!

 

The house looks great!!! The asking price for ours was $245, we offered $230. Our agent looked at comps, etc and was able to advise us of what type of offer we should put in that wouldn't be offensive to the seller and that would show them that we were serious. We got the house for $235. It's a buyer's market! Also, something that really helped us and made us more attractive to the seller was that we weren't selling anything, so we could do things at the seller's pace.

 

HAVE FUN! It's WAYYYYYYY more stressful than I ever imagined it would be!

[Kat81]

Quote:

Originally Posted by Heidi We're going through this right now. We made an offer this past Sun and it was accepted on Mon. We have a realtor who ONLY represents Buyers. It's SOOOOOO wonderful having her. She answers all of my silly questions as a first-time homeowner. We're running into lots of little problems now and she's there helping us through EVERYTHING! Also, here's a heads up for you that we weren't given until TODAY - you're going to need a good $7-10,000 for closing costs alone!!! YIKES! The house looks great!!! The asking price for ours was $245, we offered $230. Our agent looked at comps, etc and was able to advise us of what type of offer we should put in that wouldn't be offensive to the seller and that would show them that we were serious. We got the house for $235. It's a buyer's market! Also, something that really helped us and made us more attractive to the seller was that we weren't selling anything, so we could do things at the seller's pace. HAVE FUN! It's WAYYYYYYY more stressful than I ever imagined it would be!

Yeah, we aren't selling anything AND we are already approved for a loan beyond what were are looking at. So, we can sign the papers ASAP. I am just afraid I will go too low and offend them or go too high and screw myself. Also, in the closing costs. Our mortgage broker told us it's pretty easy to get the seller to take care of most or all of the costs. But, if they don't we can take care of it. It's just so stressful not knowing what to expect.

[Heidi]

Quote:

Originally Posted by Kat81 Yeah, we aren't selling anything AND we are already approved for a loan beyond what were are looking at. So, we can sign the papers ASAP. I am just afraid I will go too low and offend them or go too high and screw myself. Also, in the closing costs. Our mortgage broker told us it's pretty easy to get the seller to take care of most or all of the costs. But, if they don't we can take care of it. It's just so stressful not knowing what to expect.

from our current experience, if the seller agrees to a lower price, they likely won't cover closing costs....at least for us! :-P hopefully it'll work out for you though, cause it's causing me SOOOO much stress right now!