Purchasing a home with no agent (mortgage company, housing, agreement, percentage)

[deno088]

Nycgirl610, When all is said and done come back and let us know what you decided to do. If you get an agent, I can't wait to hear how much "negotiating" your agent did for you. I bet you come back and say you will never use an agent again.

[London Girl]

Originally Posted by Maureensc

london girl discount brokers are like discount surgeons!!! would you use a discount surgeon? no i didnt think so you would want the BEST

Are you seriously comparing a realtor to a surgeon????

Surgeons don't work for commission.............

So, how long does it take to get a realtor's license?

And how long does it take to train as a doctor? Then as a surgeon?

I know who I consider "professionals"

And it's not realtors.

[brookdaleresident]

I just put in an offer on a house and used an agent. Aside from negotiating, she is looking out for my interests. She reviewed the home inspection report and pointed out things I wasn't aware of. She used her contacts to get info and inspections. She has helped me make decisions. An agent can be worth their fee and more.

[TristansMommy]

Originally Posted by Maureensc

Hey Levitown I am orignially from Bayport been in Hilton Head 18yrs

Hey there.. I"m about to become a resident of Pennsylvania.. running from the high cost of living (and taxes!)here on Money Pit island (I miss what LI used to be.. the LI I grew up in!)

[TristansMommy]

Originally Posted by London Girl

Are you seriously comparing a realtor to a surgeon????

Surgeons don't work for commission.............

So, how long does it take to get a realtor's license?

And how long does it take to train as a doctor? Then as a surgeon?

I know who I consider "professionals"

And it's not realtors.

London Girl.. you miss the point..

Real Estate is the biggest purchase anyone will ever make.. it's an important decision... and we now know , looking at what is going on around us, the consequences should you get bad or no advice on REal Estate. .. just look at all the foreclosures..

That being said.. here's another example.. using a "discount" broker is the same as buying your clothes from a dollar store... sure it's cheap, but the clothes won't hold u, the quality isn't there.. etc.

Hell .. look at these mortgage brokers that popped in, popped up and are now popping out!

When it comes to prefessionalism, good advice with an important transaction ..wether it surgery or buying a home.. you get what you pay For.. THAT is the point.

[nycgirl610]

Thanks for all the responses. I feel like my husband and I are flying blind

We asked a broker that we met from another open house if he could represent us after we saw this place on our own and told them we didn't have a broker already. He said no, but he could show us new places if this one doesn't work out.

However, we both really like this one place. We've done our own comps (know how much similar properties around it were bought/sold for in the past 4 years), have looked at other properties in the area and have an idea of what we would pay. I think we're comfortable enough with coming up with an appropriate offer price on our own.

What we don't know is how to go about submitting an offer - Is there a formal template to use? Can it be verbal? What other things should we consider besides the price?

[wileynj]

Originally Posted by brookdaleresident

I just put in an offer on a house and used an agent. Aside from negotiating, she is looking out for my interests. She reviewed the home inspection report and pointed out things I wasn't aware of. She used her contacts to get info and inspections. She has helped me make decisions. An agent can be worth their fee and more.

Did you sell brookdale? If so, that's great news! Are you still heading down to GA?

[brookdaleresident]

Originally Posted by wileynj

Did you sell brookdale? If so, that's great news! Are you still heading down to GA?

no, and yes. we have a contingency on our offer. we also have 3 interested parties taking a second look this weekend. trust me, when I sell, you'll know it!

[nyc211]

I've read that in the past, there were only Seller's Broker and all buyers were unrepresented and had to no choice but to work directly with the Seller's Broker.

Can someone tell me when Buyer's Broker began? I read on Wiki it started in the early 90's?

[TristansMommy]

Originally Posted by nyc211

I've read that in the past, there were only Seller's Broker and all buyers were unrepresented and had to no choice but to work directly with the Seller's Broker.

Can someone tell me when Buyer's Broker began? I read on Wiki it started in the early 90's?

Dont know when it began.. I know that it is popular in a lot of places but for some reason in NY, NYC and LI it hasn't picked up or is as common..but there are more and more agents that are doing it

And.. it's really beneficial.. it's a service you get, an extra layer of "protection" in a transaction that doesn't cost you anything.