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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!!
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.
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.
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.
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
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.
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.
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...
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Quote:
Originally Posted by olecapt
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.
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