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We are closing in less than 2 weeks on a Fannie Mae property. I didn't hire a Buyer's Agent. Regretting it now. Found house and used the listing agent only. Initially had great feeling about the purchase. But now that we have paid for escrow, inspections and approved for the loan, we are not getting returned calls and being treated as less of a priority. Is it too late to involve a buyer's agent, to make sure everything we have done and are doing is right?
We are closing in less than 2 weeks on a Fannie Mae property. I didn't hire a Buyer's Agent. Regretting it now. Found house and used the listing agent only. Initially had great feeling about the purchase. But now that we have paid for escrow, inspections and approved for the loan, we are not getting returned calls and being treated as less of a priority. Is it too late to involve a buyer's agent, to make sure everything we have done and are doing is right?
Thanks.
To make you feel better, my friends receintly bought a house and they had buyer's agent from day 1. After their offer was submitted and accepted, it was very difficult to get in touch with their agent. And from my experience, buyer's agent is a waste of money - all they care for is to get paid and making the transaction smooth and easy for the buyer is not on their list.
To make you feel better, my friends receintly bought a house and they had buyer's agent from day 1. After their offer was submitted and accepted, it was very difficult to get in touch with their agent. And from my experience, buyer's agent is a waste of money - all they care for is to get paid and making the transaction smooth and easy for the buyer is not on their list.
My buyer's agent not only was responsive during and after the purchase of my home, he was instrumental in getting answers a year later when a (undisclosed) issue arose. Not only that, he assisted us with a management company for our rental property. Each person is different.
Buyer's agent can be extremely useful if you find the right one.. I get it.. some agents aren't good.. it doesn't mean we're all like that. But heck.. buy a house without one if you really want to, you'll make the listing agent (selling agent) extremely happy because they don't have to split the commission. (Seller is obligated to pay a certain amount whether a buyer's agent is in the picture or not) You just made their day and now have no one to advocate on your behalf.. (selling agent works for seller and in their best interest, it's their fiduciary duty) They don't cost a thing for the buyer but yet they are a waste of money. Hmmm..
I decided to go directly with buyer's agent as well (short sale). IMHO it benefits me because I get all the updates directly from her. She was also able to cut her commission a bunch to offset for our low offer on this house.
I just hired an attorney though that way we are represented in some ways.
Went directly with listing agent on a Fannie Mae REO a couple weeks ago. There were three other offers that came in within a day after they reduced the price.
They approved our offer within 24hours (was supposed to be at least a week)
So I'm guessing there are benefits going directly to listing agent in REO situation. (I also chose homepath financing thinking it might help us get the deal)
Decided to pass on the house so we are still waiting on our short sale deal.
Quote:
Originally Posted by whybuy
We are closing in less than 2 weeks on a Fannie Mae property. I didn't hire a Buyer's Agent. Regretting it now. Found house and used the listing agent only. Initially had great feeling about the purchase. But now that we have paid for escrow, inspections and approved for the loan, we are not getting returned calls and being treated as less of a priority. Is it too late to involve a buyer's agent, to make sure everything we have done and are doing is right?
My buyer's agent not only was responsive during and after the purchase of my home, he was instrumental in getting answers a year later when a (undisclosed) issue arose. Not only that, he assisted us with a management company for our rental property. Each person is different.
Buyer's agent can be extremely useful if you find the right one.. I get it.. some agents aren't good.. it doesn't mean we're all like that. But heck.. buy a house without one if you really want to, you'll make the listing agent (selling agent) extremely happy because they don't have to split the commission. (Seller is obligated to pay a certain amount whether a buyer's agent is in the picture or not) You just made their day and now have no one to advocate on your behalf.. (selling agent works for seller and in their best interest, it's their fiduciary duty) They don't cost a thing for the buyer but yet they are a waste of money. Hmmm..
In my area market is crazy right now. Looks like "happy" by your def. listing agent is what it takes to win the bidding war I will take it as long as I've got the house. I don't care who is getting paid - only listing agent or boths listing agent and buyer's agent. Oh, and it doesn't mean listing agent will get double $$, usually it's less but still better than typical 3%
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I will take it as long as I've got the house. I don't care who is getting paid - only listing agent or boths listing agent and buyer's agent. Oh, and it doesn't mean listing agent will get double $$, usually it's less but still better than typical 3%
