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I expect to interview at least three realtors in mid June, select a realtor and list my home for sale in mid to late July.
My boss has suggested that before I select a realtor to check with him because he may know some young couples who might be interested in my home. Apparantly the desirable school district (I am in PA), the updates I have done in the past few years and my anticipated listing price might get me an offer before I list the house for sale. I don't see any harm in at least letting them do a walk thru to see if they have any interest before I select a realtor.
On the other hand since I have never sold a home. I value having a realtor who knows all the steps involved in making sure the perspective buyer is a qualified buyer. I would feel more comfortable having someone familar with the process to ensure everything gets done and done correctly thru closing.
So, if I interview three realtors and the average anticipated listing price is for example $250K - 6% realtor fee would translate to $15000. If I already have a buyer lined up (who is not working with a buyers agent) would a realtor be willing to handle the paperwork to closing for a flat fee or a reduce percentage? (I.e. I already have a buyer who wants to offer $245K - would you handle the paperwork for 2% of the sale price and if for any reason the sale to this buyer does not happen you get the listing at your regular percentage?)
I just wondered how a realtor might react to such a proposal.
If I already have a buyer lined up (this term means an actually qualified party with enough income, credit, CASH and of course the financing needed to make the deal) would a realtor be willing to handle the paperwork to closing for a flat fee or a reduce percentage?
Of course.
But if you have that qualified buyer then all you really need is an attorney to review the contract
The onus for everything else remains with the buyer.
If you really want to pay a Realtor to help you do the paperwork on your sale (most of which the Title company does anyway, except for the purchase contract. The buyer's bank, not the Realtor, qualifies the buyer), contact Help-U-Sell. Otherwise, you can likely negotiate a 'paperwork only' deal with almost any Realtor for 1-2%. -- Once you get through your first sale, you will discover that it's really not that complicated.
On most conventional sale/buy situations, a Realtor earns their money and is well worthwhile, but, in this case, unnecessary.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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If you already had a buyer and just need the forms filled out, I've done it for $500. If after the forms are filled out and you kept wanting to get my opinion on something, I charge $100/hr after the first $500.
I expect to interview at least three realtors in mid June, select a realtor and list my home for sale in mid to late July.
My boss has suggested that before I select a realtor to check with him because he may know some young couples who might be interested in my home. Apparantly the desirable school district (I am in PA), the updates I have done in the past few years and my anticipated listing price might get me an offer before I list the house for sale. I don't see any harm in at least letting them do a walk thru to see if they have any interest before I select a realtor.
On the other hand since I have never sold a home. I value having a realtor who knows all the steps involved in making sure the perspective buyer is a qualified buyer. I would feel more comfortable having someone familar with the process to ensure everything gets done and done correctly thru closing.
So, if I interview three realtors and the average anticipated listing price is for example $250K - 6% realtor fee would translate to $15000. If I already have a buyer lined up (who is not working with a buyers agent) would a realtor be willing to handle the paperwork to closing for a flat fee or a reduce percentage? (I.e. I already have a buyer who wants to offer $245K - would you handle the paperwork for 2% of the sale price and if for any reason the sale to this buyer does not happen you get the listing at your regular percentage?)
I just wondered how a realtor might react to such a proposal.
Mary2014
You really don't need a realtor to handle the paperwork if you have your own buyer.
Your lawyer will take care of everything on your end and the buyer's lawyer will take care of everything the buyer needs.
A few years ago I purchased two properties from a family member - no real estate agent was necessary for anything. Back when we were flipping we sold a few on our own, only needed our lawyer.
Good luck, but keep in mind that you don't need to pay out one more dime to anyone for doing what your lawyer is more than capable of doing.
I sold my parents house this way. Had a buyer that wanted it, we agreed on a price and we let the lawyers do all the rest. My lawyer drew up the sales contract papers and looked over the papers I needed to sign, and their lawyers did all the rest. I stopped at their lawyer's office, dropped off the keys and picked up the check. The check was written through the lawyer's account, apparently they got the funds from the mortgage company. Of course this was back in 1999, so keep that in mind.
I expect to interview at least three realtors in mid June, select a realtor and list my home for sale in mid to late July.
My boss has suggested that before I select a realtor to check with him because he may know some young couples who might be interested in my home. Apparantly the desirable school district (I am in PA), the updates I have done in the past few years and my anticipated listing price might get me an offer before I list the house for sale. I don't see any harm in at least letting them do a walk thru to see if they have any interest before I select a realtor.
On the other hand since I have never sold a home. I value having a realtor who knows all the steps involved in making sure the perspective buyer is a qualified buyer. I would feel more comfortable having someone familar with the process to ensure everything gets done and done correctly thru closing.
So, if I interview three realtors and the average anticipated listing price is for example $250K - 6% realtor fee would translate to $15000. If I already have a buyer lined up (who is not working with a buyers agent) would a realtor be willing to handle the paperwork to closing for a flat fee or a reduce percentage? (I.e. I already have a buyer who wants to offer $245K - would you handle the paperwork for 2% of the sale price and if for any reason the sale to this buyer does not happen you get the listing at your regular percentage?)
I just wondered how a realtor might react to such a proposal.
Mary2014
Basically the RE Agent doesn't do squat unless he/she is also a Broker. Hire a lawyer or find a Broker, not a agent, like user "DMenscha" noted above.
I agree, call few real estate lawyers and get their prices. The most expensive one I found in my area was charging $3K for everything which is still below whatever you will be able to negotiate with the agent and the agent cannot give you any legal advices. Keep in mind if the agent work under broker he/she is paying $$ to the broker (1-1.5% in average), so not too much left for negotiation.
If the realtors in your area are brokers and write the contract, go with a great one. Don't know if attorneys write contracts in your area instead.
If it's common for the brokers to write the contracts, they are used to walking you through all the steps and it would be less common for an attorney to find the time to be in regular touch with you for every little thing. Again, however, the real estate attorney may be set up for that in your area.
As far as the price. People buying by owner know they are buying by owner and are doing so to get a lower price because you will not be paying the commission. They want you to give them the commission or at least split it.
As far as the broker only writing the contract. Yes, of course it can be done. Even by a regular realtor. However, for the low contract writing price you won't get the realtor who will talk to you once or twice a day at key times, who will coordinate inspections and repairs and advise you on such things, who will make sure every step is met...pre qual, loan app in how many days, inspection in how many days, sometimes various inspections, advising on and negotiating inspection repair items, letting you know what's commonly done and what's crazy because they're not buying a new house, keeping in touch with the lender, etc etc.
I recommend the OP obtain their own appraisal to make sure they don't have the home priced too low. Don't put yourself in an awkward place with your boss. You are actually doing him the favor in our current market with an early head's up, not the other way around. Yes, you are saving the commission, but you are also losing the competitive bid. Above all, do not commit yourself to anything until you have fully researched things.
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