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Old 03-20-2018, 12:14 AM
 
Location: Mendocino, CA
858 posts, read 483,551 times
Reputation: 561

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I think I made a mistake doing it this way. I don't feel 100% certain my broker is in my corner, because my broker obviously knowsfellow brokers than me....

Now when my broker tells me to bid higher, I don't know if there is legit circumstance to warrant that.
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Old 03-20-2018, 08:23 AM
 
Location: Raleigh NC
7,902 posts, read 6,218,724 times
Reputation: 7009
you've never met this person, nor have you actually been to the property, have you?

pretty self-explanatory to me. It's not his fault if you don't trust him, it's yours for not taking the time to go up there.
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Old 03-21-2018, 12:32 AM
 
Location: Mendocino, CA
858 posts, read 483,551 times
Reputation: 561
Quote:
Originally Posted by BoBromhal View Post
you've never met this person, nor have you actually been to the property, have you?

pretty self-explanatory to me. It's not his fault if you don't trust him, it's yours for not taking the time to go up there.
Yes I said it. I made the mistake.

I think I can navigate through this one.
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Old 03-21-2018, 11:01 AM
 
Location: Raleigh NC
7,902 posts, read 6,218,724 times
Reputation: 7009
well of course you can. you'll either negotiate a deal that you're comfortable with, or you'll walk away.

the mistake is not that you chose someone and now you're concerned they're not trust-worthy. It's not taking the time to develop the trust in the relationship beforehand. The only reason you've given for not trusting them is that they're suggesting you counter (or initial bid, that's unclear) an amount closer to asking price. If there's another reason, please share.

Certainly you asked for comparable sales, and he provided them. The internet is full of market value experts who base their info off Zillow or national economics or state, or the latest company layoff news in a community. None of the above have anything to do with"what are houses like this selling for right now?" and whether you're paying market value, or some amount under.

Let's put it into your realm (and I readily admit I don't know investing as well as I'm about to layout).

I call you up out of the blue, and say I want to transact stocks from you. I say "I've seen the news about Facebook, and so i want to buy some 3 month options at $120. I think they'll go below that, and I'll make a killing." Stocks are easier - because you can readily calculate this cost, right? But what if you told me "Bo, I think that's kind of silly. Sure, we can get you an option, but it should be at 160, or you're COMPLETELY wasting your option money".

Am I to blanketly mistrust you? Certainly the cost of those options is higher, yes?
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Old 03-21-2018, 11:49 AM
 
Location: Mendocino, CA
858 posts, read 483,551 times
Reputation: 561
The broker qualified me very hard initially; then once I showed the statements, it's kind of awkward to try strategizing for the best deal without looking cheap.

I didn't have these issues/hassles with brokers that worked with me before and know me.
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Old 03-21-2018, 01:42 PM
 
Location: Raleigh NC
7,902 posts, read 6,218,724 times
Reputation: 7009
well, that's a qualifying statement.

if he tells you, regardless of allowing him to see statements, "these homes are selling for $X" and you offer X-10%, then yes, he would likely tell you that you should be higher than X-10%.
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Old 03-21-2018, 04:25 PM
 
Location: Mendocino, CA
858 posts, read 483,551 times
Reputation: 561
Quote:
Originally Posted by BoBromhal View Post
well, that's a qualifying statement.

if he tells you, regardless of allowing him to see statements, "these homes are selling for $X" and you offer X-10%, then yes, he would likely tell you that you should be higher than X-10%.
It's more like I offer X+6.7%, and broker says to offer X+10% or more, and constantly discourages me from adding contingencies, but encourages me to commit more and more in other things such as timing.

If I think positively, broker may be trying to ensure I get it.
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Old 03-21-2018, 09:53 PM
 
Location: Raleigh NC
7,902 posts, read 6,218,724 times
Reputation: 7009
if properties are selling for X+10%, well then....

and as I recall - you're the one who wanted a range of contingencies for buying a canal-front property, among other things, yes?

If I'm wrong and confusing you with someone else, my apologies.

In MANY markets, in MANY price ranges, your due diligence must be done BEFORE you write an offer, whether you have 1 day or 1 month to do so.
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Old 03-21-2018, 10:22 PM
 
Location: Mendocino, CA
858 posts, read 483,551 times
Reputation: 561
Quote:
Originally Posted by BoBromhal View Post
if properties are selling for X+10%, well then....

and as I recall - you're the one who wanted a range of contingencies for buying a canal-front property, among other things, yes?

If I'm wrong and confusing you with someone else, my apologies.

In MANY markets, in MANY price ranges, your due diligence must be done BEFORE you write an offer, whether you have 1 day or 1 month to do so.
Gee whiz people here have good memories. Yes I looked that that property too. What I am hunting for now is a bit unusual (want a large body of water) hence more questions and considerations. And since they are all up in the mountains, have to try doing as much as possible remotely.

Then you have things moving at lightening speed here, there is often no time to do due diligence. I actually bought one property sight unseen. (that one e worked out beautifully, with the help of my acquainted broker. )
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