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Old 04-04-2024, 04:09 PM
 
Location: New Jersey
4,177 posts, read 5,056,132 times
Reputation: 4228

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Quote:
Originally Posted by MikeJaquish View Post
"Cluelessness" triggers your reactions? There's an easy fix. Cure your cluelessness. Learn. Then, post sensibly.
Sigh. More sign language
Doesn't work on me
You've been on this forum even longer than me, kudos there.
So I'll bookmark this thread, and remind you of it in 5 years or so -- we'll both probably still be here when R.E. agents have gone the way of the milkman.
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Old 04-04-2024, 04:13 PM
 
Location: New Jersey
4,177 posts, read 5,056,132 times
Reputation: 4228
Quote:
Originally Posted by Chas863 View Post
Most R/E contracts that I've seen provide a certain amount of time to have the property inspected, zoning checked, and other such things to the satisfaction of the buyer. So, it would behoove you as the buyer to make sure you have a reasonable amount of time to make sure that the property suits your wants and needs.
Agreed.

Unfortunately for me, the market is so hot that there's no time to lookup that info, and there are plenty of buyers who (unlike me) don't care about those conditions
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Old 04-04-2024, 06:36 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
4,612 posts, read 7,529,570 times
Reputation: 6026
Quote:
Originally Posted by Chas863 View Post
Typically, buyers are NOT to rely on the representations (word) of a real estate agent on matters like this. If you're seriously interested in a property, you could either check out these conditions before making an offer to purchase, OR you could put those conditions in the contract with a certain date or time limit to satisfy yourself that the conditions are acceptable to you.

Most R/E contracts that I've seen provide a certain amount of time to have the property inspected, zoning checked, and other such things to the satisfaction of the buyer. So, it would behoove you as the buyer to make sure you have a reasonable amount of time to make sure that the property suits your wants and needs.


.
Well said.

Real estate agents should be able to provide the current zoning status of the property but as to what can be built, easements & set backs - those are questions to be answered by the local zoning department, not a real estate agent. That's their area of expertise. If there's a mandatory HOA, you'll also need someone to review the most recent survey to determine if the HOA also has easements that must be respected. It's not a topic that any real estate agent should be giving answers to off the top of their head.

As to the timeline for closing on a short sale, that is determined by the seller's lien holders and in every short sale I've handled the timeline varied, often by several weeks. Sometimes lien holders do try to meet the seller/buyer contract designated closing date, others could care less about your closing deadline. Every lender has their own process for dealing with short sales and they will follow that process, no matter how many weeks it takes. Extending closing dates because buyers/sellers were still waiting on the approval of the short sale happened frequently. So how is a real estate agent supposed to give a definite answer to a buyer when they ask about closing timelines? The answer: they can't.

Sometimes it's better to tell buyers you cannot answer certain questions and why you cannot answer them than to toss answers out there have a good chance of being wrong.
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Old 04-04-2024, 06:54 PM
 
Location: Cary, NC
43,265 posts, read 77,043,330 times
Reputation: 45612
Quote:
Originally Posted by JG183 View Post
Sigh. More sign language
Doesn't work on me
You've been on this forum even longer than me, kudos there.
So I'll bookmark this thread, and remind you of it in 5 years or so -- we'll both probably still be here when R.E. agents have gone the way of the milkman.
Lmao.
You're far from the first to troll here with nothing to offer and eschewing learning.
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Old 04-04-2024, 07:01 PM
 
Location: Cary, NC
43,265 posts, read 77,043,330 times
Reputation: 45612
Quote:
Originally Posted by Sunshine Rules View Post
Well said.

Real estate agents should be able to provide the current zoning status of the property but as to what can be built, easements & set backs - those are questions to be answered by the local zoning department, not a real estate agent. That's their area of expertise. If there's a mandatory HOA, you'll also need someone to review the most recent survey to determine if the HOA also has easements that must be respected. It's not a topic that any real estate agent should be giving answers to off the top of their head.

As to the timeline for closing on a short sale, that is determined by the seller's lien holders and in every short sale I've handled the timeline varied, often by several weeks. Sometimes lien holders do try to meet the seller/buyer contract designated closing date, others could care less about your closing deadline. Every lender has their own process for dealing with short sales and they will follow that process, no matter how many weeks it takes. Extending closing dates because buyers/sellers were still waiting on the approval of the short sale happened frequently. So how is a real estate agent supposed to give a definite answer to a buyer when they ask about closing timelines? The answer: they can't.

Sometimes it's better to tell buyers you cannot answer certain questions and why you cannot answer them than to toss answers out there have a good chance of being wrong.
I know the variety of recorded documents varies from jurisdiction to jurisdiction.
Here it's not difficult to provide recorded plats with specified covenants, which often include setbacks.
Of course, a seller should provide a survey if they have one.
But one thing I've learned here is the huge disparity between jurisdictions and practices
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Old 04-04-2024, 09:51 PM
 
Location: Ocala, FL
6,470 posts, read 10,332,410 times
Reputation: 7899
Quote:
Originally Posted by MikeJaquish View Post
Of course, a seller should provide a survey if they have one.
Yes, they should, but not all sellers retain or even have a survey done when they buy a home/property. That's another story all together that I don't need to discuss here.

A realtor can ask if the seller does or does not, but the realtor can't be expected to provide it unless provided by the seller at closing.

Just clarifying the thread, not questioning your advice, Mike.
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Old 04-04-2024, 09:57 PM
 
Location: New Jersey
4,177 posts, read 5,056,132 times
Reputation: 4228
Quote:
Originally Posted by MikeJaquish View Post
Lmao. You're far from the first to troll here with nothing to offer and eschewing learning.
OK boomer.

When you can't offer substantive replies, you continually resort to ad hominem & strawman rebuttals.

We see you

Not going to engage anymore.
You can have the last word, enjoy your delusion !
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Old 04-04-2024, 10:36 PM
 
Location: New Jersey
4,177 posts, read 5,056,132 times
Reputation: 4228
Quote:
Originally Posted by Sunshine Rules View Post
Real estate agents should be able to provide the current zoning status of the property but as to what can be built, easements & set backs - those are questions to be answered by the local zoning department, not a real estate agent.
Why is that ?

Why can't the agent do the legwork to find out ?

Certainly the commission will more than cover the 1-2 hours (max) needed to ascertain.

When the market is hot, I concede that agents don't have to do any more than enter keystrokes into the MLS, or chauffeur buyers to a property.

But it is under these market conditions that enough people get left out, which in turn creates an opportunity for those seeking to eliminate this inefficiency.

YHD (which later became Foxtons) saw this opportunity, but they were marginalized to death by the NAR, and all the local agents.

That's a paradigm whose time is here again.

Here's another analogy:

I'm an automotive hobbyist. Over the last 40+ years, I've bought & sold countless vehicles. I've never used a consignment service - neither as a buyer or as a seller. (And, trading-in = effectively using a consignor.) They add too much $$ to the transaction, for zero value, other than being a "locator service".

Pre-internet, there was a place for a locator service. With the internet, I don't need a locator service. I can now go on numerous websites to find vehicles FSBO.

The ruling on this class action lawsuit will have the eventual result of both buyers and sellers wanting other ways to do peer-to-peer transactions. That is an opportunity which will be successfully exploited, at the expense of the current MLS.
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Old 04-05-2024, 05:43 AM
 
Location: Cary, NC
43,265 posts, read 77,043,330 times
Reputation: 45612
Quote:
Originally Posted by JG183 View Post
OK boomer.

When you can't offer substantive replies, you continually resort to ad hominem & strawman rebuttals.

We see you

Not going to engage anymore.
You can have the last word, enjoy your delusion !
"Boomer." So, intimidated by experience, knowledge, and skill. Got it. Not uncommon at all.
Not going to engage further? Hopefully to invest your time in learning rather than demi-trolling.

Substance, in the face of willful and deliberate cluelessness:

Quote:
Originally Posted by MikeJaquish View Post
I'm no NAR apologist by any means, but much of what you state is balderdash.

1. Not all MLSs are owned by REALTORS. NAR has no grip on independent MLSs.

2. MLSs are robust marketing venues and databases. Where will those websites gather sales data from the last 10+ years?

3. MLSs operate with significant standardizations.

4. MLSs are very expensive to establish, operate, and maintain, as are competitive websites. Zillow knows that to be a fact, along with others who didn't have the cash to burn that Z has incinerated.
We had a North Carolina outfit, bunch of clowns, try to establish an independent statewide MLS, open to all agents. All they managed to do was beat countless agents out of a $100 entry fee. Lasted less than a year, as I recall.

5. How many very expensive websites do you propose one would need for local searches in the absence of MLSs?

6. Walmartization of properties? Commoditization of real estate marketing and sales? LOL. Seriously, LOL. "Hmmm. I will take the toilet brush, the mascara and that little $800,000 love shack with the nice granite counters at 123 Elm Street."

7. Many sellers do not want to interact with buyers. A great many sellers. Oversimpification and naïveté don't alter that fact.

The commoditization shtick has been outdated for years.
"Cluelessness" triggers your reactions? There's an easy fix. Cure your cluelessness. Learn. Then, post sensibly.
So, rather than respond to the 7 cogent, substantive points I mentioned, you focus on your feelings that your posts are not adequately reverered despite their banality.

Quote:
Originally Posted by MikeJaquish View Post
What other common agent roles would you give an attorney a pass on, while bleating "An attorney can do anything an agent can do?"
Will the attorney do all an agent can do or not do the things an agent can do?
How many real estate attorneys work evenings and weekends?
How many have you worked with who have full MLS access, including attached documents.

....
That is not a trick question. Nor are the others. A thought-out response might be interesting.
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Old 04-05-2024, 08:06 AM
 
Location: Columbia, SC
10,966 posts, read 21,972,507 times
Reputation: 10659
Quote:
Originally Posted by JG183 View Post
Why is that ?

Why can't the agent do the legwork to find out ?

Certainly the commission will more than cover the 1-2 hours (max) needed to ascertain....
The buyers agent, who has a fiduciary responsibility to their client, would normally assist their client with research such as the possibility of adding a garage. Let me ask this. You say the commission is enough to cover the 1-2 hours of research. Why should the seller pay their agent to do your research for you? What about the other 10 buyers that require 30 minutes or more hours of research-should the commission be enough to cover that time as well? What proposal do you have in mind compensate the agent for their 2 hours if you don't buy the home? What proposal do you have in mind for compensation when the cumulative time invests exceeds a reasonable amount of time investment? What if the commission isn't enough at all to cover additional time to provide research for buyers? And again, why should a listing agent even do research on behalf of a buyer that isn't his/her client?

Typical uninformed consumer without the ability to think ahead to action/reaction:
1-Celebrates ruling that will prevent or make it more difficult for buyers to have agent assistance.
2-Thinks listing agents will now do all the work for half the pay.
3-Thinks home prices will now come down by 3% because sellers won't be interested in making a higher profit.
4-Gets upset when he finds out listing agents won't do the legwork that would have been by the buyer agent and he'll have to do it himself.
5-Ends up back on a message board to complain about agents when people like him broke the system that functioned well to provide a level playing field.
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