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I just encourage all readers to think real hard about who is what offering what advice on this and any thread. Some very good professionals offer some very good advice. Some very self admitted novices may offer some very good sounding bad advice. Judge for yourselves the value of the information.
What have you seen that you consider to be bad advice on this thread?
I would just like to see some web links on how to do your own deed, title and close out your own escrow. THAT would be professional advice.
I wouldn't even attempt that.
You'd have no recourse if you miss something.
Hire a good RE lawyer.
If you're in Jersey, I can give you the name of my lawyer. He takes no crap (not even from his clients) and is excellent. I refer him all the time.
I've dealt with other RE attorney's (and the last case was when mine was representing the seller I was buying from. It was a dark day when I found that out) who don't do half of what this one does and have charged me more for doing a lesser and half-arsed job.
Well if they want to earn their money then it needs to be a mutually benificial deal. Why should he make money while I loose money, that does not sound like a professional buisness transaction to me. I would say realtors should be taking a 1% cut if that is what is nessicary in this market.
It's not the realtor's fault, who you sought out and "hired" to sell your property that you're going to end up in the hole after the property is sold via realtor.
Come on already.
You are obviously a distressed seller. Figure out what you can and cannot afford and either bite the bullet and pay the realtor fee or shell out the $1500 for a FSBO listing and see what sticks.
I'm not a realtor, but why would you hire someone to perform a service, that you can't do on your own, or don't want to spend the $1500 to do on your own, and then complain about what a professional is going to charge you to provide said service?
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Its like they try to "teach" everyone else the reality while their bill rates are still pre 2008, thats why you see more FSBO, part of the reason the house might be priced too high is because of the high commissions. Its like they have not caught on that everyone elses wages are deflating why do they think they are special.
Bill rates? You paying 6%? Learn how to negotiate. The average rate is 5% and a good realtor, if he/she has the fish on the hook, will go down from there to get a deal done so they can move on to the next. Time is money for everyone.
You can't have it both ways. You can't use a realtor to advertise your property and then hate the realtor for their fee. Every realtor you leave in the dust is out money if you switch up every 6 mos.
There is a REASON your property isn't selling as fast as you would like. It's not the realtor's fault.
If you work with your Title company they provide a wealth of good professional advice when you use their service at no additional charge.
Ah - not really. They aren't RE lawyers and they can tell you anything they want to and when they are wrong, who is one going to hold accountable?
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I also agree that anyone taking advice here should consider the source of the information and follow the money. Commission sales people sell real estate and others sell used cars.
And anyone in the market to purchase a used car or sell their house via used car dude or RE agent should ALREADY be informed about the in's and out's of the process.
It's really easy: don't hire a realtor when you want to sell your property if you think a realtor's due diligence comes at no cost, or you're not happy about what it will cost you.
Eyes should be wide open when you sign that contract. What's it worth to you to do it on your own: advertise on your own (online ads - not Craigslist- cost $$) and hoping you reach every potential buyer you can, field the phone calls, sit in on your own open houses, negotiate with a buyer or a buyer's lawyer, especially if you're a neophyte?
I don't get the complaining. Know what you're doing if you hire one or if you don't. Negotiate commission, realize that it is a big chunk of change to pay, but also question if you have the resources and the connections and the know-how to do it on your own. If you do, go for it.
Realtors provide services. If you don't want to pay for said services b/c it all "looks" too easy. Don't. But don't sit back and cry over the fee to sell the property on an online FSBO site. That "fee" is JUST the beginning.
My realitor insulates me from people being insulting, if it has been listed that long without going into forclosure then they are not going to write a check for you to take their home. Unless by "lowball" you mean a few thousand under list but if you offer 100k for a place listed at 180k the realtor is going to look at you like your some bum off the street messing with him. If they are not willing to write that check then you cant get a clear title even if they accept the offer.
Not sure what you mean by "insulting". This is a business deal. Take the emotions out of it.
A buyer has no idea if a seller will be writing a check or not. Or how much money they have in the bank. You missed my point. The longer a house sits it will give the impression the seller will be desperate. That will lead to lower offers. Your agent can't do anything to stop that.
Not sure what you mean by "insulting". This is a business deal. Take the emotions out of it.
A buyer has no idea if a seller will be writing a check or not. Or how much money they have in the bank. You missed my point. The longer a house sits it will give the impression the seller will be desperate. That will lead to lower offers. Your agent can't do anything to stop that.
How do you take the emotion out of it? Also if it was listed for a year and they were truely desperate wouldent you think it would already be in foreclosure?
I guess it depends on what desperate is, I mean if they really needed to sell and they had the equity their agent and them would have already been incrementally lowering the price wouldent they, like my realtor said, you want to slowly lower the price to find the market not just give the place away. Just because the house has been listed a long time does not mean it has been listed at that same price.
I guess if you were tracking that particular property and it was up for a year with no price change you would have a better chance of making a lowball offer stick, but if they already lowered it 10 grand then its probably a fruitless effort to put that low ball in.
Here's an example of wrong information like you were requesting.
That is actually fairly close to true if your place is not FHA approved, like a condo that does not meet the reserve threshold for the HOA. 25% down is a little drastic but a conventional loan is going to require somewhere around 15% down which is still a chunk of change that most people dont have.
How do you take the emotion out of it? Also if it was listed for a year and they were truely desperate wouldent you think it would already be in foreclosure?
I guess it depends on what desperate is, I mean if they really needed to sell and they had the equity their agent and them would have already been incrementally lowering the price wouldent they, like my realtor said, you want to slowly lower the price to find the market not just give the place away. Just because the house has been listed a long time does not mean it has been listed at that same price.
I guess if you were tracking that particular property and it was up for a year with no price change you would have a better chance of making a lowball offer stick, but if they already lowered it 10 grand then its probably a fruitless effort to put that low ball in.
By not getting emotional. This is simply a business transaction. If you can't get past that you may never sell your house.
Desperate does not equal foreclosure.
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