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Old 12-02-2013, 12:46 PM
 
25 posts, read 46,147 times
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Looking seriously at purchasing a small lot but live out of state. What may be any pro's and con's of buying directly from the seller's agent? How would having a buyer's agent help in the possible transaction. Any info or recommendations or advice sure would be greatly appreciated. Thank You!
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Old 12-02-2013, 02:59 PM
 
Location: Knoxville
4,704 posts, read 25,301,161 times
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Have you actually seen the lot?
Having a buyer's agent will give you the advantage of having someone that is looking out for your interests. Not to say that just dealing with Seller's agents can be a bad thing, but in some cases it could be.
I will send you a PM and give you a couple contacts.
A lot depends on where the lot is (outside of KNoxville?)
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Old 12-02-2013, 05:09 PM
 
Location: Knoxville, TN
132 posts, read 191,722 times
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Quote:
Originally Posted by my2sense View Post
Looking seriously at purchasing a small lot but live out of state. What may be any pro's and con's of buying directly from the seller's agent? How would having a buyer's agent help in the possible transaction. Any info or recommendations or advice sure would be greatly appreciated. Thank You!
Realize this:
  1. The typical Real Estate Agent that gets called a Buyer's Agent (because they are showing properties to Buyers) is being paid from the Seller's real estate fees which decrease as the deal gets better for the Buyer. They may help you write the deal a little more to your advantage, but in the end, they have a built-in conflict of interest in this situation. Their hands are tied in this situation because they have bills to pay too...
  2. A true Buyer's Agent is one who benefits from getting the Buyer a better deal than the Seller was expecting and gives them more background about the areas of interest that aid in your decision. In other words (at the minimum) your agent must make more money as you pay less for the property. If you don't have an agreement where you will pay them an incentive to get a better deal, you are really defeating yourself in getting a better price on the property.
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Old 12-02-2013, 06:14 PM
 
25 posts, read 46,147 times
Reputation: 23
Sending many thanks for the helpful and informative responses. Was clear and concise. Just what I was hoping for. You guys rock this forum.
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Old 12-20-2013, 08:51 PM
 
Location: Knoxville
1,155 posts, read 3,389,314 times
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Buyers agents are paid from the sales commission offered by the sellers contract and is no cost to the buyer. You would be best served to have your own agent and receive the best handling for you. Most sales agents would probably be fine to trust, but still better off using your own.
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