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Realtor or Developer
Posted on 4/30/14 at 1:10 pm
Posted on 4/30/14 at 1:10 pm
Is there any advantage of going through a Realtor when buying a lot in a newly developed subdivision if so what are they? Is the price pretty much firm or is there some negotiating room, or would it just make more sense to go through the developer and my bank?
3
Posted on 4/30/14 at 1:38 pm to TigerSaint1
If the developer is paying the realtor, you might as well hire a friend/family member to represent you and let them get an easy pay check.
Posted on 4/30/14 at 2:31 pm to TigerSaint1
Up here, most developers are price protecting lots. Commissions are not part of the purchase price. Just did a transaction last week where lot was 250k whether my client used me or didn't use me. The developer and onsite agent told him as he was hesitant to believe me. And since I cut all my clients a heavy break on commission sale side if they use me on purchase as well , client will save over 20k in commissions as he is downsizing considerably.
To have someone be the point of contact, pull comps on recent sales, do all the paperwork, help line up subs, etc... At no cost is pretty nice IMO.
To have someone be the point of contact, pull comps on recent sales, do all the paperwork, help line up subs, etc... At no cost is pretty nice IMO.
Posted on 4/30/14 at 2:32 pm to TigerSaint1
Are you buying a lot or are you buying a completed house?
If it is a lot, I don't know why you would need a realtor.
If it is a completed house that has not been lived in, I guess your need for a realtor depends on how good you are at negotiating. Everything is negotiable.
My experiences in buying new houses from developers has been that they are very reluctant to make major cuts to the price. However, they are more than willing to negotiate in other ways - free upgrades (especially if it is in things that don't require construction - like changing out fixtures and the like), contributing towards closing costs, etc. Of course, the longer the house has sat there, the more they will negotiate, and the more likely they will work on the price.
If it is a lot, I don't know why you would need a realtor.
If it is a completed house that has not been lived in, I guess your need for a realtor depends on how good you are at negotiating. Everything is negotiable.
My experiences in buying new houses from developers has been that they are very reluctant to make major cuts to the price. However, they are more than willing to negotiate in other ways - free upgrades (especially if it is in things that don't require construction - like changing out fixtures and the like), contributing towards closing costs, etc. Of course, the longer the house has sat there, the more they will negotiate, and the more likely they will work on the price.
Posted on 4/30/14 at 2:48 pm to LSUFanHouston
quote:
If it is a lot, I don't know why you would need a realtor.
I always recommend contingencies such as survey, radon, perk (septic), soil test, grading and infrastructure cost. Then I help line up vendors for said test.
I guess in LA & TX where you're buying a flat piece of dirt at sea level these issues do not arise often.
Posted on 4/30/14 at 2:56 pm to LSUFanHouston
Buying a lot
Posted on 4/30/14 at 3:14 pm to ItNeverRains
I would still make sure the zoning of the lot is correct. Had an issue last week where the home buyer purchased the lot with cash and went to get a loan for the construction. Appraisal found that the property was still zoned commercial and the bank would not lend the money to build till it is corrected.
Posted on 4/30/14 at 3:52 pm to DieSmilen
Well it's a lot in a developed subdivision.
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