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Message
re: Buying a FSBO home without using a realtor
Posted on 6/12/16 at 3:51 pm to BeerMoney
Posted on 6/12/16 at 3:51 pm to BeerMoney
If I was selling fsbo and the buyer came with a realtor that expected to be compensated, I would welcome them but would build in any commission to the the final sales price I'd accept. Most buyers are ok with that because they'd feel secure about all the ends covered when making such a huge investment.
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Posted on 6/12/16 at 3:52 pm to TigerBR1111
I bought my house from a guy selling his home FSBO and I didn't use a realtor. Had zero problems with the purchase.
Posted on 6/12/16 at 3:53 pm to BeerMoney
Just closed on a home as a seller 2 weeks ago. No agents involved. But the home was never advertised. The daughter of the lady across the street heard that we had some renters bail on us . She called and asked if we would consider selling it to her. Done. Went no inspection and split the commission. A good quick deal for all involved. This was a 260k house FWIE.
Posted on 6/12/16 at 3:56 pm to TigerBR1111
A lot of BS ignorance in this thread. I've sold 2 and bought 1 without any realtor involved. That's 6 % wiggle room (on what I'm willing to sell for/offer on). On $500k, that's 30k in my/your pocket. I have a lot of attorneys in my family, so drafting the appropriate documents don't cost me anything. Also, most real estate transactions use boiler-plate state approved/required contracts and disclosures.
RE agents and companies are a racket!
RE agents and companies are a racket!
Posted on 6/12/16 at 4:04 pm to TigerBR1111
The last house I sold was by owner, and the most recent house I bought was sold by owner. No realtor involved. It is not that difficult. Although, I have bought and sold a few through realtors so I knew what had to be done.
Posted on 6/12/16 at 4:17 pm to TigerBR1111
No need for a realtor just insist you choose the closing attorney- and I mean attorney. Lots of closing agents are not attorneys
Posted on 6/12/16 at 4:18 pm to TigerBR1111
Hire a closing attorney.
Thread/
Thread/
Posted on 6/12/16 at 4:20 pm to Sparkplug#1
What's the cost of a closing attorney?
Posted on 6/12/16 at 4:21 pm to TigerBR1111
Easy. Did it twice. Saved a ton of money
Posted on 6/12/16 at 4:25 pm to TigerBR1111
Last time I bought, like $2000. You can factor that into your mortagage if you don't want to take that hit upfront. Also, not sure if the price of the house was a factor in the attoreny's fee.
Posted on 6/12/16 at 4:27 pm to 1234567k
Me too.
Realtors are useless. Some of these responses have got to be from realtors cause they are spewing all the common BS about needing one.
Realtors are useless. Some of these responses have got to be from realtors cause they are spewing all the common BS about needing one.
Posted on 6/12/16 at 5:04 pm to GusMcRae
quote:
Also, most real estate transactions use boiler-plate state approved/required contracts and disclosures.
This. I can fill the blanks in myself.
Posted on 6/12/16 at 5:34 pm to TigerBR1111
We sold our place in Hoboken without a realtor, sold in a week.
Someone in our building had a friend looking, only showed it to two other couples. Worked out very well
Someone in our building had a friend looking, only showed it to two other couples. Worked out very well
Posted on 6/12/16 at 6:18 pm to TigerBR1111
quote:
How difficult is it?
As long as you're not an idiot and know the process it's easy.
Posted on 6/12/16 at 6:20 pm to TigerBR1111
Do you pay a 3rd party 6% to buy a car?
Posted on 6/12/16 at 6:30 pm to TigerBR1111
My realtor didn't do anything I couldn't have easily done myself.
If you're willing to do more leg work and are capable of managing that kind of thing, definitely do it.
If you're willing to do more leg work and are capable of managing that kind of thing, definitely do it.
Posted on 6/12/16 at 6:58 pm to TigerBR1111
It is not hard, I bought my first house directly with the owner. I'm a terrible negotiator but the guy selling and I decided that a realtor would cost him 6% so we split the difference and he took 3% off his selling price.
As for as paperwork goes, your realtor does very little except possibly setting up a buy sell agreement with contingencies regarding inspections etc.. Most of the paperwork gets handled by the closing attorney. You pick one ahead of time and they would likely have a handy buy/sell agreement they would setup for you and tack it onto the closing. You'll pay closing attorney fees regardless, so insist on picking the one you want.
Realtors can be worthwhile when you're looking or selling but if you already have a line on the house you want, I wouldn't hesitate. If you do get a buyer agent, odds are you will have to pay that commission of a fee since the seller is under no obligation to do so if the house is not MLS listed.
As for as paperwork goes, your realtor does very little except possibly setting up a buy sell agreement with contingencies regarding inspections etc.. Most of the paperwork gets handled by the closing attorney. You pick one ahead of time and they would likely have a handy buy/sell agreement they would setup for you and tack it onto the closing. You'll pay closing attorney fees regardless, so insist on picking the one you want.
Realtors can be worthwhile when you're looking or selling but if you already have a line on the house you want, I wouldn't hesitate. If you do get a buyer agent, odds are you will have to pay that commission of a fee since the seller is under no obligation to do so if the house is not MLS listed.
Posted on 6/12/16 at 6:59 pm to DownshiftAndFloorIt
So the steps after offer accepted are:
1. Choose mortgage company
2. Choose closing attorney
3. Get inspection
4. At closing the attorney and mortgage co will provide all necessary paperwork to be completed and signed
Am I missing anything?
1. Choose mortgage company
2. Choose closing attorney
3. Get inspection
4. At closing the attorney and mortgage co will provide all necessary paperwork to be completed and signed
Am I missing anything?
This post was edited on 6/12/16 at 7:01 pm
Posted on 6/12/16 at 7:06 pm to CFDoc
quote:I'm a useless realtor. I list the houses I build so I don't have to pay a listing agent. So useless!!!
Realtors are useless. Some of these responses have got to be from realtors cause they are spewing all the common BS about needing one.
Posted on 6/12/16 at 7:37 pm to TigerBR1111
FWIW: Over the years I have spot checked FSBO houses and most of them were overpriced.....
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