Closing on a house

Post Reply  
User avatar
Megalodon
Posts: 16269
Joined: Thu Jul 21, 2005
Sand$: 20,383.32
congrats on the new pad!
_______________________________________

stuffedcrust3meat wrote:to all the people we never meet that leave a lasting impression :Drink)


Image
User avatar
Megalodon
Posts: 16916
Joined: Tue May 11, 2004
Sand$: 14.72
Yessir, buying a house is not as severe as selling one though, selling one you have to have an agent, you can't really advertize in the local paper and expect results, the seller agent spends a portion of their money just to get it advertized in the local MSL's ....a lot of agents won't show houses not in the MSL and your house can sit on the market for years, the 6% or whatever you negotiate with the agent could be a huge savings, the seller/buyer agents usually split the money in half when the whole thing is done so the seller's agent actually makes less but the buyer's agent might spend a couple of hundred in gas and could have several hours invested that they might not ever get paid if nothing develops in potential buyer but that's the reality of the sell, agents/brokers are a necessary evil, I wouldn't want to buy a house with nobody protecting my interests and since I don't know the ends/outs of things, I don't want to be screwed down the road in exchange for saving a couple of thousand in the front end by not going through a agent...be careful in handling things by your self, most times it's not worth it...I have done it both ways
User avatar
Great White Shark
Posts: 4800
Joined: Mon Sep 5, 2005
Sand$: 9,105.00
Done and done! :Drink)

Got the agents to come down 1% each on their commissions (told them I'd walk otherwise). My guy tried to tell me that it's the "seller who pays the broker/agent commissions". I don't see it that way. The buyer is the one who funds the transaction, therefore it is the buyer who is paying the commissions.

Realtors are a blight on the earth.
_______________________________________

"If it doesn't make sense, it's usually not true."
User avatar
Megalodon
Posts: 16045
Joined: Tue Sep 6, 2005
Sand$: 7,794.37
congrats. time for the housewarming party now.
User avatar
Great White Shark
Posts: 4800
Joined: Mon Sep 5, 2005
Sand$: 9,105.00
elven wrote:congrats. time for the housewarming party now.


thanks. for sure, you're invited... but pace yourself please. I saw how shiddy you got at vonbearsalot's party

Image
_______________________________________

"If it doesn't make sense, it's usually not true."
User avatar
Megalodon
Posts: 16916
Joined: Tue May 11, 2004
Sand$: 14.72
My guy tried to tell me that it's the "seller who pays the broker/agent commissions".


99.9 % of the time this is true, he's the one getting the money so he pays....don't know where you would get the fact the buyer pays commission...I wouldn't buy your house if I was the buyer and you came up with that...it's a buyers market my friend, not the other way around
User avatar
Megalodon
Posts: 16976
Joined: Sun Oct 18, 2009
Sand$: 40,087.42
Third and Long wrote:
My guy tried to tell me that it's the "seller who pays the broker/agent commissions".


99.9 % of the time this is true, he's the one getting the money so he pays....don't know where you would get the fact the buyer pays commission...I wouldn't buy your house if I was the buyer and you came up with that...it's a buyers market my friend, not the other way around


He's coming from the POV that the price would be 6% cheaper if the greedy realtors didn't have their grubby paws in the middle of the money exchange.
_______________________________________

viewtopic.php?f=47&t=336835
11th Annual Kicker Defense Challenge
Can you win a yahoo public league picking DEF/K in the 1st 2 rounds?

500 sand entry fee
2015 winners
Endzoneview
Craphead
Crackhead Bob
PMG
Palmerac
User avatar
Megalodon
Posts: 16045
Joined: Tue Sep 6, 2005
Sand$: 7,794.37
MadLove wrote:
elven wrote:congrats. time for the housewarming party now.


thanks. for sure, you're invited... but pace yourself please. I saw how shiddy you got at vonbearsalot's party

Image



hey, what can i say? i'm a sprinter, not a pacer.
User avatar
Megalodon
Posts: 16916
Joined: Tue May 11, 2004
Sand$: 14.72
625james wrote:
Third and Long wrote:
My guy tried to tell me that it's the "seller who pays the broker/agent commissions".


99.9 % of the time this is true, he's the one getting the money so he pays....don't know where you would get the fact the buyer pays commission...I wouldn't buy your house if I was the buyer and you came up with that...it's a buyers market my friend, not the other way around


He's coming from the POV that the price would be 6% cheaper if the greedy realtors didn't have their grubby paws in the middle of the money exchange.


wow...let's see what happens when he tries to sell the damn thing on E bay or on beyourrealtor.com ....there are reasons why these people make what they do, they are performing a service, the agent that lists the house puts the money up front to market the house and brings the buyers to the house, you don't have to go through a realtor, but most people like the idea of a professional covering their backsides especially when 100's of thousands of dollars are at stake..


realtor's are like lawyers, you have to have them sometime in your life and they provide a service best handled by them, if you don't , then you heard the old saying " a man who is his own lawyer has a fool for a client", I hated the fact that I spent all the time/money to take a fixer upper and sold it for more than I paid for it, no realtor was there with paintbrush or on the roof with me but that's the way it goes..
User avatar
Great White Shark
Posts: 4800
Joined: Mon Sep 5, 2005
Sand$: 9,105.00
The industry is a racket - from the mortgage banks to the Realtors to their recommended inspectors.

In some situations, they provide value. But never to the extent that they should earn more than brain surgeons.

For the savvy hands-on consumer, they really are useless.

_______________________________________

"If it doesn't make sense, it's usually not true."
User avatar
Mako Shark
Posts: 549
Joined: Thu Aug 26, 2010
Sand$: 1,333.02
Congrats on your purchase.

We sold our house without a realtor. Got lucky and sold it by word of mouth before we even put a sign or ad up. We were willing to take a little less since we weren't paying a realtor. If we hadn't been so lucky, we would have contacted a realtor after a month or two. I think the buyer has the most to lose when not going through a realtor. The average person may need a good mortgage banker (or other knowledgable person) advising them when a realtor is not in the picture. But I think common sense and some research will generally keep you safe. Then again everybody that watches HGTV thinks they are realty experts these days.
_______________________________________

2011 Tiger Shark 3 Champs - Click-Clock-Click-Click's Nut Farmers
ASFL Keeper League - Nut Farmers

The Saga of Click-Clock-Click-Click

Who is online

Users browsing this forum: No registered users and 1 guest