Realtors and Commissions (Tampa, Spring Hill, Rio: condo, mortgages, credit) - Tampa Bay - Florida (FL) -Tampa - St. Petersburg - Clearwater - Page 9 - City-Data Forum

Spring Hillian · 05-01-2011, 09:54 AM

Ok, thanks for the clarification. I was wondering if there were two "algia" here. No, its not any of my biz, but you posted the informationt, so its open for question. I was simply questioning the validity of your postings which seem to vary in consistency from time to time.

As far as staying on topic, if you read back, it was you who brought in doctors being over paid in a real estate thread (later you flipped your position), you who brought in Office Depot workers in a real estate thread, you who has now brought in car salesmen, again, in a real estate thread.

Frankly, it seems you have it "in" for any one who makes a living regardless of their employ.

Since you probably don't know, car salesmen are paid on a percentage of the profit of the sale. This percentage varies but usually runs in the 20% to 25% range.

crazynip · 05-01-2011, 09:56 AM

Quote:

Originally Posted by newyorker24

So the banks should have made sure people could pay back their loans instead of the buyers themselves making sure they could pay? What you are saying is that people are too stupid to make important financial decisions on their own so someone else must make them on their behalf.

Both are equally responsible. Financial institutions are actually legally responsible to some degree as well.

Irishiis49 · 05-01-2011, 09:59 AM

I've bought and sold many properties from NYC to Florida, I wouldn't sell without a realtor,(and not a Charles Ruttenberg part-timer). I have paid as much as 36,000 in realtor fees on one house alone, yes it hurts but IMHO they are worth the price as are real estate lawyers! Some times if you have worked with a realtor before they might cut their end to make a deal happen but they don't do that very often!

Spring Hillian · 05-01-2011, 09:59 AM

Under what statute are the financial institution legally responsible? Under what theory of law?

Quote:

Originally Posted by crazynip

Both are equally responsible. Financial institutions are actually legally responsible to some degree as well.

newyorker24 · 05-01-2011, 10:00 AM

Quote:

Originally Posted by crazynip

Both are equally responsible. Financial institutions are actually legally responsible to some degree as well.

Legally responsible? Really? Under what law is the bank LEGALLY obligated to make sure YOU don't make stupid financial decisions?

Spring Hillian · 05-01-2011, 10:04 AM

They are not. Its just another way to avoid personal responsibility and blame mistakes on others. If it makes them feel better to blame someone else, fine. Let it be.

Quote:

Originally Posted by newyorker24

Legally responsible? Really? Under what law is the bank LEGALLY obligated to make sure YOU don't make stupid financial decisions?

Irishiis49 · 05-01-2011, 10:06 AM

The foolish homeowners (I am one),banks,appraisers and realtors have paid a price to varying degrees! I feel sorry for homeowners who bought within their means made improvements on their homes over the years and now have seen their home values drop like a rock because of all the foreclosures around them!!

crazynip · 05-01-2011, 10:08 AM

Quote:

Originally Posted by Spring Hillian

Under what statute are the financial institution legally responsible? Under what theory of law?

The Home Ownership and Equity Protection Act of 1994 for one. I am not taking blame off the buyers, but saying there is a LOT of blame to go around.

newyorker24 · 05-01-2011, 10:12 AM

Quote:

Originally Posted by Spring Hillian

They are not. Its just another way to avoid personal responsibility and blame mistakes on others. If it makes them feel better to blame someone else, fine. Let it be.

Exactly. What really cracks me up is the people crying because "the bank won't help me save my house." Please. The bank does not have to do you any favors. You agreed to pay for the house and now you can't. Move out and stop prolonging the agony.

The funny thing is that in many cases the banks are offering them some sort of assistance, but not the miracles people are asking for. I know people that want the bank to forgive the year of payments they missed and drop their mortgage payments by 50%. Keep dreaming. Even the high-priced attorneys they paid with the money they "saved" from not paying their mortgage can't get them that. LOL...if you can't pay your mortgage, how can you afford that foreclosure defense attorney?

newyorker24 · 05-01-2011, 10:13 AM

[quote=Irishiis49;18967021]The foolish homeowners (I am one),banks,appraisers and realtors have paid a price to varying degrees! I feel sorry for homeowners who bought within their means made improvements on their homes over the years and now have seen their home values drop like a rock because of all the foreclosures around them!![/quote]

I agree, but that doesn't mean they should contribute to the problem by walking away.