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Old 04-01-2010, 06:47 AM
 
26 posts, read 162,682 times
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Hi - I'm in Virginia and want to put an offer on a house without a real estate agent. The house is listed by an agent. I want it to be contingent upon a home inspection and a moisture inspection. Because I allready know there is moisture/termite damage. Can anyone suggest a contract to use?
Thanks Forum!!
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Old 04-01-2010, 06:52 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,540,208 times
Reputation: 2661
Quote:
Originally Posted by Wahoo72 View Post
Hi - I'm in Virginia and want to put an offer on a house without a real estate agent. The house is listed by an agent. I want it to be contingent upon a home inspection and a moisture inspection. Because I allready know there is moisture/termite damage. Can anyone suggest a contract to use?
Thanks Forum!!
Whatfuruwannadothat?

And then you don't know where to get a contract?

Your plea is more properly titled "Please help me get screwed"

There are times and conditions under which proceeding without an agent may be sensible. I can't think of one if you don't know where to get the forms.
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Old 04-01-2010, 07:51 AM
 
Location: Simmering in DFW
6,947 posts, read 18,732,690 times
Reputation: 7187
I would use a real estate agent or a real estate attorney to submit my offer. However, if you want to do it yourself you can call a title company and ask them for a sales contract form and in my state they do have them. Other idea, call the listing agent and tell them you want to submit an offer.....they can give you a form.
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Old 04-01-2010, 08:09 AM
 
Location: Madison, AL
3,289 posts, read 4,746,415 times
Reputation: 2614
Do yourself a favor....ask around to friends/neighbors/coworkers, find a good buyers agent to represent you, and have them submit the offer to the listing agent and negotiate on your behalf.

Don't think that the listing agent is going to cut their commission for you....it is not going to happen. What that agent is going to do is work to your detriment....why? Because by law they have to, if they have an agency agreement with their seller (which is more likely than not). You have a right (and state law may dictate) to know the agency relationship between the seller and their agent. Commissions are paid out of seller's settlement, so the commission to be paid to a buyers agent is already set, it is negotiated between the seller and their agent, and may be variable depending on the capacity that the agent who brings the buyer is acting in.
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Old 04-01-2010, 10:13 AM
 
Location: Barrington
42,030 posts, read 31,818,472 times
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Just curious why you prefer to work with the listing agent instead of getting your own agent?
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Old 04-01-2010, 10:28 AM
 
Location: Martinsville, NJ
6,159 posts, read 10,913,272 times
Reputation: 3939
Quote:
Originally Posted by Wahoo72 View Post
Hi - I'm in Virginia and want to put an offer on a house without a real estate agent. The house is listed by an agent. I want it to be contingent upon a home inspection and a moisture inspection. Because I allready know there is moisture/termite damage. Can anyone suggest a contract to use?
Thanks Forum!!
I can't suggest a contract for you to use, as I am not in Virginia. Sorry.
But I have a question;
If you KNOW there is moisture and termite damage, why are you making an offer that requires you to pay for inspections that will simply tell you there is moisture and termite damage? Why not make your offer in such a way that includes the remedy you want? In other words, why not write an offer that says "I will pay $XXX for the house, under the condition that such & such damage (which appear to be the result of termites & moisture) are repaired to the satisfaction of a qualified inspector, and the source of the moisture remediated"?

No offese, but it sounds, (and I know I may be incorrect as I am basing this opinion on just one short post) that you aren't particularly familiar with the ins & outs of buying a property, especially one that you know in advance will have issues. While there are some cases where a buyer can do well on thier own, and possibly save some money if they can negotiate down the price because they are forgoing representation, it appears to me that you will be ill advised to do so. Why not hire a good local agent to represent you and your interests here? Chances are it will net you a greater savings in money, time, effort, and headache.

Last edited by Bill Keegan; 04-01-2010 at 10:31 AM.. Reason: corrected the wording
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Old 04-01-2010, 11:43 AM
 
424 posts, read 2,053,437 times
Reputation: 153
Quote:
Originally Posted by LCTMadison View Post
Do yourself a favor....ask around to friends/neighbors/coworkers, find a good buyers agent to represent you, and have them submit the offer to the listing agent and negotiate on your behalf.

Don't think that the listing agent is going to cut their commission for you....it is not going to happen. What that agent is going to do is work to your detriment....why? Because by law they have to, if they have an agency agreement with their seller (which is more likely than not). You have a right (and state law may dictate) to know the agency relationship between the seller and their agent. Commissions are paid out of seller's settlement, so the commission to be paid to a buyers agent is already set, it is negotiated between the seller and their agent, and may be variable depending on the capacity that the agent who brings the buyer is acting in.
I agree. It doesn't cost you anything to use a buyer's agent, you can only benefit from that. You don't gain anything by not using one, the seller's agent just gets more commission than if they had to split it with your agent. And the sellers agent cannot be vested in your interests instead of the sellers, as Madison said.
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Old 04-01-2010, 02:49 PM
 
26 posts, read 162,682 times
Reputation: 18
I thank you all for your responses, I do know where to get forms, but I like to keep my options open...and perhaps someone on this forum may have better forms than I have. With the last real estate agent I had (whom I fired) I felt that the agent was actually working against me and not for me. So at this moment in time I'm a little soured on the real estate agent front.

Thanks again for all the responses and please keep them coming.

Wahoo
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Old 04-01-2010, 04:41 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,540,208 times
Reputation: 2661
Quote:
Originally Posted by Wahoo72 View Post
I thank you all for your responses, I do know where to get forms, but I like to keep my options open...and perhaps someone on this forum may have better forms than I have. With the last real estate agent I had (whom I fired) I felt that the agent was actually working against me and not for me. So at this moment in time I'm a little soured on the real estate agent front.

Thanks again for all the responses and please keep them coming.

Wahoo
Understand what you are doing. Because you did not like your prior agent you are deciding to put your trust in another agent who is working for the other side. You are basically paying him to take advantage of you.

There aren't any better forms just different ones. The best is the one with which you are intimately familiar.

At the least get an attorney into the act. Let him check your contract to at least make sure it says what you intend...
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Old 04-01-2010, 04:50 PM
 
Location: Cary, NC
31,666 posts, read 55,462,661 times
Reputation: 30210
Quote:
Originally Posted by olecapt View Post
Understand what you are doing. Because you did not like your prior agent you are deciding to put your trust in another agent who is working for the other side. You are basically paying him to take advantage of you.

There aren't any better forms just different ones. The best is the one with which you are intimately familiar.

At the least get an attorney into the act. Let him check your contract to at least make sure it says what you intend...
Agreed. The secret is NOT access to forms.
The value is in knowing how you can help or harm yourself with the forms.
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