re: I have a dumb question about getting a real estate agent

quote:

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Were you able to get a better deal in this situation because there was no agent to pay the commission so it went back to you and the builder?

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I felt I got a good deal, but I had a unique situation.

The house was built and the person who was supposed to buy it, it fell through, so it became an inventory house. The list cost, which was the original cost with no incentives, plus options, was $158K. The house was done and just sitting. Further, the builder was just about done in the neighborhood.

We negotiated and we ended up paying a price of $123K. In addition, we got 6% back in closing cost assistance, plus we got a $2,500 gift certificate to Gallery Furniture. The 6% assistance was enough to pay all closing costs including a full year of insurance and pre-paids for escrow, AND had enough cash to buy down the interest rate by a full half-percent. We were Katrina refugees so the FHA had a program where we could buy a house with no down payment needed. So I literally did not pay a dime at closing.

Would I have gotten a better or worse deal using an agent? Dunno. I was getting transferred there after the storm, I needed a house, he needed to sell a house, we viewed the house, opened, and completed negotations over the course of a weekend, and closed in 22 days.