Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-01-2010, 05:47 AM
 
26 posts, read 179,736 times
Reputation: 18

Advertisements

Hi - I'm in Virginia and want to put an offer on a house without a real estate agent. The house is listed by an agent. I want it to be contingent upon a home inspection and a moisture inspection. Because I allready know there is moisture/termite damage. Can anyone suggest a contract to use?
Thanks Forum!!
Reply With Quote Quick reply to this message

 
Old 04-01-2010, 05:52 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,097,810 times
Reputation: 2661
Quote:
Originally Posted by Wahoo72 View Post
Hi - I'm in Virginia and want to put an offer on a house without a real estate agent. The house is listed by an agent. I want it to be contingent upon a home inspection and a moisture inspection. Because I allready know there is moisture/termite damage. Can anyone suggest a contract to use?
Thanks Forum!!
Whatfuruwannadothat?

And then you don't know where to get a contract?

Your plea is more properly titled "Please help me get screwed"

There are times and conditions under which proceeding without an agent may be sensible. I can't think of one if you don't know where to get the forms.
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 06:51 AM
 
Location: Simmering in DFW
6,952 posts, read 22,628,025 times
Reputation: 7295
I would use a real estate agent or a real estate attorney to submit my offer. However, if you want to do it yourself you can call a title company and ask them for a sales contract form and in my state they do have them. Other idea, call the listing agent and tell them you want to submit an offer.....they can give you a form.
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 07:09 AM
 
Location: Madison, AL
3,297 posts, read 6,237,488 times
Reputation: 2678
Do yourself a favor....ask around to friends/neighbors/coworkers, find a good buyers agent to represent you, and have them submit the offer to the listing agent and negotiate on your behalf.

Don't think that the listing agent is going to cut their commission for you....it is not going to happen. What that agent is going to do is work to your detriment....why? Because by law they have to, if they have an agency agreement with their seller (which is more likely than not). You have a right (and state law may dictate) to know the agency relationship between the seller and their agent. Commissions are paid out of seller's settlement, so the commission to be paid to a buyers agent is already set, it is negotiated between the seller and their agent, and may be variable depending on the capacity that the agent who brings the buyer is acting in.
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 09:13 AM
 
Location: Barrington
63,919 posts, read 46,527,253 times
Reputation: 20674
Just curious why you prefer to work with the listing agent instead of getting your own agent?
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 09:28 AM
 
Location: Martinsville, NJ
6,175 posts, read 12,904,838 times
Reputation: 4020
Quote:
Originally Posted by Wahoo72 View Post
Hi - I'm in Virginia and want to put an offer on a house without a real estate agent. The house is listed by an agent. I want it to be contingent upon a home inspection and a moisture inspection. Because I allready know there is moisture/termite damage. Can anyone suggest a contract to use?
Thanks Forum!!
I can't suggest a contract for you to use, as I am not in Virginia. Sorry.
But I have a question;
If you KNOW there is moisture and termite damage, why are you making an offer that requires you to pay for inspections that will simply tell you there is moisture and termite damage? Why not make your offer in such a way that includes the remedy you want? In other words, why not write an offer that says "I will pay $XXX for the house, under the condition that such & such damage (which appear to be the result of termites & moisture) are repaired to the satisfaction of a qualified inspector, and the source of the moisture remediated"?

No offese, but it sounds, (and I know I may be incorrect as I am basing this opinion on just one short post) that you aren't particularly familiar with the ins & outs of buying a property, especially one that you know in advance will have issues. While there are some cases where a buyer can do well on thier own, and possibly save some money if they can negotiate down the price because they are forgoing representation, it appears to me that you will be ill advised to do so. Why not hire a good local agent to represent you and your interests here? Chances are it will net you a greater savings in money, time, effort, and headache.

Last edited by Bill Keegan; 04-01-2010 at 09:31 AM.. Reason: corrected the wording
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 10:43 AM
 
424 posts, read 2,336,223 times
Reputation: 156
Quote:
Originally Posted by LCTMadison View Post
Do yourself a favor....ask around to friends/neighbors/coworkers, find a good buyers agent to represent you, and have them submit the offer to the listing agent and negotiate on your behalf.

Don't think that the listing agent is going to cut their commission for you....it is not going to happen. What that agent is going to do is work to your detriment....why? Because by law they have to, if they have an agency agreement with their seller (which is more likely than not). You have a right (and state law may dictate) to know the agency relationship between the seller and their agent. Commissions are paid out of seller's settlement, so the commission to be paid to a buyers agent is already set, it is negotiated between the seller and their agent, and may be variable depending on the capacity that the agent who brings the buyer is acting in.
I agree. It doesn't cost you anything to use a buyer's agent, you can only benefit from that. You don't gain anything by not using one, the seller's agent just gets more commission than if they had to split it with your agent. And the sellers agent cannot be vested in your interests instead of the sellers, as Madison said.
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 01:49 PM
 
26 posts, read 179,736 times
Reputation: 18
I thank you all for your responses, I do know where to get forms, but I like to keep my options open...and perhaps someone on this forum may have better forms than I have. With the last real estate agent I had (whom I fired) I felt that the agent was actually working against me and not for me. So at this moment in time I'm a little soured on the real estate agent front.

Thanks again for all the responses and please keep them coming.

Wahoo
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 03:41 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,097,810 times
Reputation: 2661
Quote:
Originally Posted by Wahoo72 View Post
I thank you all for your responses, I do know where to get forms, but I like to keep my options open...and perhaps someone on this forum may have better forms than I have. With the last real estate agent I had (whom I fired) I felt that the agent was actually working against me and not for me. So at this moment in time I'm a little soured on the real estate agent front.

Thanks again for all the responses and please keep them coming.

Wahoo
Understand what you are doing. Because you did not like your prior agent you are deciding to put your trust in another agent who is working for the other side. You are basically paying him to take advantage of you.

There aren't any better forms just different ones. The best is the one with which you are intimately familiar.

At the least get an attorney into the act. Let him check your contract to at least make sure it says what you intend...
Reply With Quote Quick reply to this message
 
Old 04-01-2010, 03:50 PM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 10 days ago)
 
Location: Cary, NC
43,112 posts, read 76,693,175 times
Reputation: 45435
Quote:
Originally Posted by olecapt View Post
Understand what you are doing. Because you did not like your prior agent you are deciding to put your trust in another agent who is working for the other side. You are basically paying him to take advantage of you.

There aren't any better forms just different ones. The best is the one with which you are intimately familiar.

At the least get an attorney into the act. Let him check your contract to at least make sure it says what you intend...
Agreed. The secret is NOT access to forms.
The value is in knowing how you can help or harm yourself with the forms.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top