How is LANDHERR ESTATES Sub Division?? (Louisville, Jeffersontown: homeowners association, broker, attorney)

[Money_Is_Everything]

I am looking at this house which is located on Landherr Dr.
It is in Subdivision called LANDHERR ESTATES.
This subdivison is located right off the Taylorsville Road.
It comes after Taylorsville Road/Chenoweth Run Road junciton.

How is this subdivision and area?

Thanks!

[Off Topic]

A nice area and nice subdivision. You can actually get a peak at it here with the cool Google tool:

3803 Landherr Drive, Jeffersontown KY 40299 - Trulia

Also a little information here:

Neighborhood Link - Landherr Estates Homeowners Association, Louisville, Kentucky 40299

[Money_Is_Everything]

great! Thanks!

I was little scared because I have heard that Chenoweth Run Road is bad and there are lots of street kids doing drugs and stuff.

[sellinggreaterlouisville]

Trulia? YUCK! That website sucks. Find a Realtor that specializes in that area. You wouldn't go to court without an attorney, would you? Especially with a >300,000 dollar purchase. Let a buyer's agent work for you. If you'd like me to refer you to someone, let me know.

-Scott

[tomocox]

ECHO! Scott hit the mark. You are spending $300K... mmmmm..... I bet a good Realtor will be able to negotiate the things you might miss.

I typically recommend that buyers never buy from the sign, yet the modern internet buyer seems to misunderstand this concept as they will search for properties then handcuff both the buyer and the seller by using the listing agent who then becomes by law a "dual agent."

In Kentucky, the law requires that licensed agents disclose not only who they represent, but also whether they are a dual agent or a designated agent as well. 95% of Kentucky brokers operate under the rules of "dual agency." This means that they and any agent associated with his/her broker is bound to serve exactly as though they were doing the work themselves. For example, Sally and Joe are both agents of XYZ Realty with Zack Adams as their principal broker. If Sally listed the property, Joe owes the same obligations to the seller as Sally, even though Joe is representing the buyer. This is what dual agency means. A designated agent is not supposed to know any privileged information of the other party.

[Money_Is_Everything]

So which one is more benefical to me? Dual agent or designated agent? I believe I am working with designated agent.

I drove by the house I was interested in last week and I saw sign of a agent in house's front yard....I callled on that number to ask for the house and that lady sounded little pushy to me.

She said that before she do anything, I first have to sign the paperwork with her represnting her as my realtor. Also, she said that before I put the offer down, I will have to pay 1% of the asking price as a down payment. That means that I will be putting almost close to $3500 in a downpayment before I make an offer. What the hell?

Then, I found out that lady was "dual agent". Because, she is part of big realtor group who is also representing builder as well. So, I decided to step away from her and went on with different agent who, I believe, is designated agent. She didn't ask me for any money at the time of putting the offer down.

[tomocox]

Tough question... Here are the three layers. Dual Agent (including all agents operating under a single principal broker's authority. i.e. all the agents in my office) represents both the seller and the buyer. This effectively means they represent no one by law as they can not treat either party unequally. For example, a dual agent can not tell you how low the seller will go although they may know the bottom. Likewise, they can not tell the seller that you are willing to pay more.

Buyer's agent or Seller's agent. You come to me to help you buy a home. I will represent you as a buyer's agent when we are looking at a property listed by another broker or firm. If I happen to show you a home listed in my firm even though one of my agent's listed the property, then I must seek both your's and the seller's permission to serve as a dual agent. It is important to note that all listings are by law held by the principal broker of the firm. Designated agent, it takes a very large firm to pull this off as the rules require that the Agent working with you has no clue of the listing details of the property. All files are technically supposed to be kept in locked drawers and even clerks separated so one is a listing clerk while another is a selling clerk. Non-public knowledge is not to be passed from the listing associate to another associate in the firm.

In my opinion, it matters not which is best, the most important part of this play is that you feel secure. Agents are bound by both law and ethical standards to advise you of their role and if they step out of the role, then you have legal rights if they cause you loss.

You need to note and I only share this for your information: There are 11 or so RE/MAX offices with distinct principal brokers in the Louisville market. There is one Semonin principal broker, three Coldwell Banker offices, two Keller Williams, and ... Just check to see who the principal broker is for the office your agent is associated with.

Whenever possible, never buy from the sign. That is don't buy a home using the listing firm to represent your interests, too.

[Money_Is_Everything]

Good info tomocox! Thanks

Well, so far, it looks like seller/builder in LANDHERR DR subdivision has come down to $111 per sqfeet price for brand new built home. I still want to drag him to $100 per sqfeet margin.

If builder is desperate enough, sure looks like it that way, then builder will def come down to $100 per sqfeet price and I will go on with that deal. I think that will be a great deal for me since it is brand new house in great sub divison.

Any thoughts?

[tomocox]

Originally Posted by Money_Is_Everything

Good info tomocox! Thanks

Well, so far, it looks like seller/builder in LANDHERR DR subdivision has come down to $111 per sqfeet price for brand new built home. I still want to drag him to $100 per sqfeet margin.

If builder is desperate enough, sure looks like it that way, then builder will def come down to $100 per sqfeet price and I will go on with that deal. I think that will be a great deal for me since it is brand new house in great sub divison.

Any thoughts?

At this point, since I would be acting as a defacto agent, I must bow out. I wish you the best of luck.

[Off Topic]

Originally Posted by Money_Is_Everything

If builder is desperate enough, sure looks like it that way, then builder will def come down to $100 per sqfeet price and I will go on with that deal. I think that will be a great deal for me since it is brand new house in great sub divison.

$100/square foot is a good price for new construction, I think. The way things are going now, my bet is you can get him to come off the $110 figure.