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.
As a real estate outsider I'll just comment that I know quite a number of people who've sold their houses FSBO and are now listed in Court records as "Defendant".
As a real estate outsider I'll just comment that I know quite a number of people who've sold their houses FSBO and are now listed in Court records as "Defendant".
It's all about give and take. Doesn't matter if you have a middleman or not; once one party reaches their max on concessions; it's over. My prior realtor wanted me to counter on some ridiculous offer. I told her no, ignore it. I waited until a buyer came along that was within ballpark range; I countered, and we made a deal. It's also better to avoid the PITA buyers that want a laundry list of items fixed or concessions to be made. You give them your best number accounting for all the BS, and let them take it or leave it.
As for FSBOs being a "defendant", they must've not utilized a uniform residential purchase contract which conveys the house as-is, nor do they live in a state that doesn't require a seller disclosure form. Most states have an iron-clad universal real estate purchase agreement template online approved by the state's board of REALTORS. The one we used to buy our house FSBO was one of those, and it required mediation or arbitration; however, we had a home inspection and the title company/real estate attorney did the remainder of the work. Some states are more litigious than others, so this may vary. My state is very lenient with this and is "caveat emptor".
Again, if you can read and understand a contract or hire an attorney to review it, you should have nothing to worry about.
I'm curious to see what this broker will do for me as I went straight to the owner of the agency. I asked several questions regarding my realtor agreement, and she was surprised I was so thorough reading it, stating that most do not---they just click where to sign on the Dotloop. Wow.
It's all about give and take. Doesn't matter if you have a middleman or not; once one party reaches their max on concessions; it's over. My prior realtor wanted me to counter on some ridiculous offer. I told her no, ignore it. I waited until a buyer came along that was within ballpark range; I countered, and we made a deal. It's also better to avoid the PITA buyers that want a laundry list of items fixed or concessions to be made. You give them your best number accounting for all the BS, and let them take it or leave it.
As for FSBOs being a "defendant", they must've not utilized a uniform residential purchase contract which conveys the house as-is, nor do they live in a state that doesn't require a seller disclosure form. Most states have an iron-clad universal real estate purchase agreement template online approved by the state's board of REALTORS. The one we used to buy our house FSBO was one of those, and it required mediation or arbitration; however, we had a home inspection and the title company/real estate attorney did the remainder of the work. Some states are more litigious than others, so this may vary. My state is very lenient with this and is "caveat emptor".
Again, if you can read and understand a contract or hire an attorney to review it, you should have nothing to worry about.
I'm curious to see what this broker will do for me as I went straight to the owner of the agency.
Disclosures.
LOL
People err, honestly.
People fudge.
People dissemble.
People don't know.
And, disclosure is not required in all states.
Contracts.
LOL
"Iron-clad." Get Heidi's GED Attorney. You may learn there is no such thing.
Disclosures.
LOL
People err, honestly.
People fudge.
People dissemble.
People don't know.
And, disclosure is not required in all states.
Contracts.
LOL
"Iron-clad." Get Heidi's GED Attorney. You may learn there is no such thing.
Except that agents are not attorneys. They cannot give legal advice either with that huge commission invoice. A lawyer drafted a boiler plate contract for each brokerage that all their agents use; just like the attorney that drafted the ones online stating "approved by the State of XXX association of REALTORS". And again, $200-500 in attorney fees is peanuts compared to 4-6% of the value of the property.
One must check with their local and state laws about what's required to be disclosed prior to selling. It's called due diligence. The vast majority of people are unaware or don't want to deal with that; thus they hire an agent. Those that are smart enough can get it done.
I am highly eager to see what kind of value I will get out of this transaction-- but that's pending my house doesn't sell FSBO before it goes under the official realtor contract date.
Except that agents are not attorneys. They cannot give legal advice either with that huge commission invoice. A lawyer drafted a boiler plate contract for each brokerage that all their agents use; just like the attorney that drafted the ones online stating "approved by the State of XXX association of REALTORS". And again, $200-500 in attorney fees is peanuts compared to 4-6% of the value of the property.
One must check with their local and state laws about what's required to be disclosed prior to selling. It's called due diligence. The vast majority of people are unaware or don't want to deal with that; thus they hire an agent. Those that are smart enough can get it done.
I am highly eager to see what kind of value I will get out of this transaction-- but that's pending my house doesn't sell FSBO before it goes under the official realtor contract date.
Define "legal advice."
Can I tell people that they need to abide by the terms of the contract they signed?
Can I give people information from the Real Estate Commission or citations from attorneys for them to consider, and tell them to consult an attorney if they have questions?
I think I can do either.
But, every time someone's preconceived notions are questioned, the old "Can't practice law without a license" arises.
And, again, talk to an attorney about that "iron-clad" contract. The phrase is meaningless, but "onerous" comes to mind.
So, back to disclosures....
Required disclosures are always appropriately made in your experience? Not in mine.
Define "legal advice."
Can I tell people that they need to abide by the terms of the contract they signed?
Can I give people information from the Real Estate Commission or citations from attorneys for them to consider, and tell them to consult an attorney if they have questions?
I think I can do either.
But, every time someone's preconceived notions are questioned, the old "Can't practice law without a license" arises.
And, again, talk to an attorney about that "iron-clad" contract. The phrase is meaningless, but "onerous" comes to mind.
So, back to disclosures.... Required disclosures are always appropriately made in your experience? Not in mine.
No, required disclosures are NOT always appropriately made, but having a realtor may be no help either. I've asked realtors about disclosure statements that had obvious flaws, mistakes, contradictions, and omissions. The answer that I typically got was "It's up to the seller to fill out the Disclosure Form. We can't guide them or tell them what to say or that would make us liable if something was incorrect."
No, required disclosures are NOT always appropriately made, but having a realtor may be no help either. I've asked realtors about disclosure statements that had obvious flaws, mistakes, contradictions, and omissions. The answer that I typically got was "It's up to the seller to fill out the Disclosure Form. We can't guide them or tell them what to say or that would make us liable if something was incorrect."
That is right as far as it goes. But, the question was for AB.
Agents have a higher requirement to disclose than consumers do, at least in my state.
So, you might decline to disclose or lie about a wet crawlspace, but I would have to disclose if I knew. And, it would not be via the state form.
When I mention that to clients, they often do the disclosure anyway. It makes them more transparent.
The agent is quite often liable if they don't disclose something that is plainly visible in a walkthrough.
And, yes, that is not enforced often enough.
Just the usual personal attack from a "professional commissioned salesperson" when they feel threatened. I encourage anyone to read the stories on CD, and other places, about the level of ethics when they want your equity and steer buyers away if they can't get it. Keep it for yourself, you earned it.
Filling out a standard form doesn't require any more than a GED so no need to pay thousands just because they have lobbyist.
I applaud your tenacity and willingness to explore new fields. This "DIY" video might help some posters lower their expenses by eliminating a dentist. The video is self explanatory and doesn't require any more than a GED so no need to pay thousands just because they have a lobbyist.
Except that agents are not attorneys. They cannot give legal advice either with that huge commission invoice. A lawyer drafted a boiler plate contract for each brokerage that all their agents use; just like the attorney that drafted the ones online stating "approved by the State of XXX association of REALTORS". And again, $200-500 in attorney fees is peanuts compared to 4-6% of the value of the property.
One must check with their local and state laws about what's required to be disclosed prior to selling. It's called due diligence. The vast majority of people are unaware or don't want to deal with that; thus they hire an agent. Those that are smart enough can get it done.
I am highly eager to see what kind of value I will get out of this transaction-- but that's pending my house doesn't sell FSBO before it goes under the official realtor contract date.
So if it's so easy and we don't do anything but be pushy salespeople, why haven't you sold it yourself? I notice you ignored my actual examples of value I posted because it didn't fit your narrative. It's become clear you're here to stir the pot and complain rather than actually attempt to educate yourself.
I find you to be both willfully ignorant, and incredibly condescending at the same time. That's a dangerous combination. If you act the same towards buyers, agents, and other professionals it's little wonder you're always beachy and constantly fail. Maybe a professional salesperson is exactly the buffer you need.
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.
