Possible to hire realtor without providing source of finances? (negotiations, banks, price)
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Some agents are just greedy. Last agent when we are trying to downsize to a one story said to me with your assets, can you imagine the house you could buy! Wow talk about not getting your clients needs.
I made it very clear we were downsizing. IF I wanted the mansion, I'd be staying in the one we currently owned.
Then she belittles me for paying cash. "I've been in the industry 30 + years, only one other time have I had anyone pay cash!" As if that is a negative! Well yeah for her cause she wasn't getting as big of a commission. She came from California.
This was 12 years ago.
You can downsize and do one heck of an upgrade at the same time. No need to buy a 10,000 square foot mansion. You'll find many of the same features in a 1,000 square foot mansion. You could easily put in crystal chandeliers. Marble floors. And more.
If realtors continue to try to get me to 'up my spending threshold' by finding different 'sources' or things like that, I may just have to find a way to buy a home where I don't have to interact with a realtor, because I'm getting sick of it.
Yes, there are some pushy real estate agents...but grow a pair and you'll be fine. If they continue, simply terminate the relationship. They'll learn.
If I am a buyer and for what ever reason do not want to disclose my financing sources or cash amount available to the seller, if the seller balks, suggest they remove the clause that gives your option money back if you can not secure financing. You are asking them to take the house off the market without a third party statement of prequalification for an amount, its fair they ask for a higher option payment and if you can not get financing and its the only reason for backing out you do not get your option fee refunded. Its fair to both parties but will take a broker who can think outside the little box of the usual situation
You can downsize and do one heck of an upgrade at the same time. No need to buy a 10,000 square foot mansion. You'll find many of the same features in a 1,000 square foot mansion. You could easily put in crystal chandeliers. Marble floors. And more.
Got 'em! In fact this 3,000 sq ft has stuff my much bigger house didn't have. Last house we'll have, coroner will be carrying us out.
Simply pick your own lender and ask for a preapproval letter for $xxxxxxx the amount you want to put on the letter. Very simple.
This ^^^ is your answer.
Just be sure you're okay with homes in that price range. As another poster said, most buyers want a house that costs much more than the purchase price they're trying to buy at. That's why realtors try to push you up in price.
I'm guessing that OP wants to pay with "cash", so won't have a pre-approval letter from a lender because they won't be borrowing any money?
If you can't even show up with a proof of funds letter on bank letterhead, that will raise all sorts of red flags with a real estate agent.
The cash has to be somewhere. A letter from his financial institution that attests that "Mrs. Jones has sufficient assets on account with our company to complete a sale up to $200,000" will also do the trick.
Again -- the agent doesn't care how much money you have. They only care that you can complete the transaction.
Just be sure you're okay with homes in that price range. As another poster said, most buyers want a house that costs much more than the purchase price they're trying to buy at. That's why realtors try to push you up in price.
It's not "pushing" if the only houses that meet the buyer's criteria are all more expensive than he says he wants to spend. It's just the way it is. At that point, the buyer can make a decision -- look at homes that do not meet all of their criteria, or spend more than they planned to get the house they want where they want it. Buyer's decision.
Just be sure you're okay with homes in that price range. As another poster said, most buyers want a house that costs much more than the purchase price they're trying to buy at. That's why realtors try to push you up in price.
Maybe try to push them down in expectations.
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Is this a cash deal?
