Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Because I had a few years of experience in the mortgage industry (wholesale) before leaving I decided not to use an agent when I put in an offer for a home. As part of my valuation on the price that I offered, I stated that because I am not using agent, I felt a discount of 2% could be applied to the price while the seller agent would gain an extra half a point of commission. That concept was not readily accepted by the seller either because of a lack of explanation or he was adamant about not revising the agreement he had with the agent. So, this is how the scenario played out:
My offer was rejected, I rejected their counter offer and they rejected my counter offer #2.
It has now been 2-3 weeks since the offers were made (and last contact) and I feel if the 5% commission will still be paid, I might as well have an agent on my side doing the paperwork and worrying instead of me. So, my question is, can I hire a buyer's agent to represent us and will the commission still be paid by the seller? The MLS listing shows 2.5% to seller's agent and 2.5% to buyer's agent.
Thank you all for your help, I certainly appreciate any information posted here.
Edit: We would like to put in another offer for the property but this time with an agent if possible.
Last edited by baruchel23; 07-18-2011 at 09:01 AM..
Thanks for the input. I just wanted to confirm that if I now put in an offer using a Buyer's Agent, he or she will still receive her commission from the seller and it won't be an out of pocket expense for me. Essentially, you're confirming that because no offer was accepted, it is the equivalent of starting from step 1.
Let your buyers agent deal with it. Explain to them up front exactly what has taken place so far and they will deal with any issues that come about with the commission.
Let your buyers agent deal with it. Explain to them up front exactly what has taken place so far and they will deal with any issues that come about with the commission.
Let your buyers agent deal with it. Explain to them up front exactly what has taken place so far and they will deal with any issues that come about with the commission.
This and...
Quote:
Originally Posted by 2bindenver
Interview a few, select one, go back through the property, ask for comparables, make an offer.
Let your buyers agent deal with it. Explain to them up front exactly what has taken place so far and they will deal with any issues that come about with the commission.
Thanks Guys. I did what was posted here and the agent(s) came up with an offer similar to what I planned to offer on my own. Essentially, I've settled on an agent and simply using one because the seller will still pay the entire amount to the selling agent otherwise if I don't have representation.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
.
