Quote:
Originally Posted by sbd78
Obviously if you are buying a FSBO with no agent, you should make sure you have a good real estate attorney representing you. And if the FSBO seller is willing to pay the commission and work with a buyer using an agent, that would work too. But WhoFanMe was suggesting the buyer may be under contract and would have to pay a commission to their agent if they bought a FSBO without their agent, and that doesn't sound accurate to me, at least not in my area.
|
If the FSBO seller is willing to pay the fee specified in the Buyer Agency agreement, there is no issue. However, if they are not, then the buyer will have to come up with it. Before I sign these agreements with buyers, I explain this carefully. If they want to find properties on their own, then they don't need my services. If they understand the value I provide, then I take over everything for them. It's a choice to be made.
There is nothing wrong with having an attorney represent you. But who is going to negotiate with the FSBO on your behalf? Who is going to help you choose a home inspector and attend the inspection? Who is going to babysit the FSBO, who is getting no advice and often irrational? Who is going to make sure that your lender supplies the necessary document on time to the seller, as per the contract, coordinate the appraisal with the seller, negotiate the results of the inspection, schedule the closing, attend the final walk through, review the HUD Settlement statement and attend the closing with you?