2% back from broker promised, not getting it (Houston: buyers, tenant)

[chris_ut]

Originally Posted by westres1

If you cancel the contract you will lose earnest money whether you buy another house from the same builder or not. It is a legal binding document.
The appraisal district does not know the sale price of your home. The only way they know is if you tell them and they will send you a little postcard asking. Just toss it in trash. You do not need to provide this info.

Not true. We were doing a dirt build on a new house but they were taking forever so we asked them to just switch the contract/earnest money over to an inventory house and they said no problem.

[Yonkers]

Originally Posted by westres1

If you cancel the contract you will lose earnest money whether you buy another house from the same builder or not. It is a legal binding document.
The appraisal district does not know the sale price of your home. The only way they know is if you tell them and they will send you a little postcard asking. Just toss it in trash. You do not need to provide this info.

You have a history of misinformation trying to scare people to hire a realtor, stay with the realtor, etc. Even after people clearly explain their situation, you never change your mind. The OP found the house and brought the realtor in just for closing. The realtor is lucky to get anything for not doing much. Don't give me this BS that they should have the realtor around for the building process.

OP,

While westres is correct that the builder can stick to the letter of the contract and stiff you for the earnest money, the reality of it is they will do what they can to please as long as you stay a customer. They want the profit from you buying the house over the $1000 they'd get of earnest money. So as long as you buy through them, they will work with you.

[westres1]

Hey, if you want to spend hundreds of thousands of dollars with out a representative looking after your best interests thats your call. But it doesnt cost you a dime to have an agent that is working for you and not the seller/builder.

[Championsiscool]

Pretty sad, in fact. If this person is paid 3% at closing, the need to pay taxes on that. For simple numbers, let's say they are paying 1% to taxes.

What's left? The 2% you are asking about.

You are asking them to work for free. I can't say whether it is right or wrong in your situation, but what motivation is in it for them?

Generally, we all get what we pay for. I am always amazed that we all expect superior service for next to nothing in return. Walmart had excellent customer service 30 years ago, try solving any problem there today.

Cheap is cheap, and will always be so.

[Yonkers]

Originally Posted by buyahomenowkleintx

Pretty sad, in fact. If this person is paid 3% at closing, the need to pay taxes on that. For simple numbers, let's say they are paying 1% to taxes.

What's left? The 2% you are asking about.

You are asking them to work for free. I can't say whether it is right or wrong in your situation, but what motivation is in it for them?

Generally, we all get what we pay for. I am always amazed that we all expect superior service for next to nothing in return. Walmart had excellent customer service 30 years ago, try solving any problem there today.

Cheap is cheap, and will always be so.

Reading comprehension is your friend. That's already been addressed. The OP clearly states "He gets 1% + any taxes that he has to pay; we get the rest."

[chris_ut]

Originally Posted by Yonkers

Reading comprehension is your friend. That's already been addressed. The OP clearly states "He gets 1% + any taxes that he has to pay; we get the rest."

Not to mention it is unlikely that his tax rate is 33% which is what you are saying by giving him 1% of the 3% towards taxes.

[Beto]

Originally Posted by hounewhome1

I do not have a signed representation with the broker but the broker has his signatures on my contract. Will the builder cancel the contract and remove his signature..the broker has a copy of the contract also.

Ok, second question is...Did you sign a IABS (information about brokerage services)?

[hounewhome1]

Don't worry about the sleazy broker whether he is getting paid or not or why he is giving me 2% back and all other nonsense.

I had decided to buy a house and then went to a party with a friend and I got introduced to this broker who said - why don't you give my name to the builder - I'll make some money and you'll make some money. I checked with a few friends if this was legal and it was, so I was ecstatic.

So, basically, this broker was supposed to make a few grand for coming to a party. But now he doesn't want to make a few grand...he wants all of it.
So, don't lecture me on ethics or whether I'm giving the broker his due or not. lesson learnt the expensive way, I just never thought someome that close to my friend would stab us in the back. No doubt I'll complain to TREC if nothing else.

[hounewhome1]

Originally Posted by Beto

Ok, second question is...Did you sign a IABS (information about brokerage services)?

No, not sure what's this.

[Beto]

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
http://www.trec.state.tx.us/pdf/contracts/OP-K.pdf