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Message
Home buying situation - Do I need a buyer's agent?
Posted on 5/12/14 at 12:45 pm
Posted on 5/12/14 at 12:45 pm
Wife and I are planning on moving into a larger house within the next three years or so. We would want to move no later than 5 years from now and as early as today. Just whenever the right house/property/finances etc. all line up correctly.
That said, we're always looking for listings that meet our criteria. We're looking at a place now that we're interested in, but we know right off the bat that we would be making a good $25,000 in aesthetic updates before moving in, and over time we'd probably do another 25k worth of work.
What worries me is that a house needing that kind of visible work (being a few decades old) on the surface may have invisible problems.
We're basically at a point with it where we'd like to get an extremely thorough, negative outlook sort of inspection to give us a good idea of worst case scenario costs.
My first thought is that maybe we should get an agent, since supposedly our agent would be looking out for our interests. But I really don't believe that shite, certainly not in our situation, because if the house seems to be turning into a money pit we're going to walk away and may not even be interested in something else for a couple years. I very sincerely doubt any agent won't be motivated to just get their usual inspector to okie-dokie everything.
Am I better off hiring my own inspector and following through on my own without an agent, and if so, any recommendations on a BR area inspector who will go through (preferably with me and the wife tagging along) and actually tear the place apart for us?
That said, we're always looking for listings that meet our criteria. We're looking at a place now that we're interested in, but we know right off the bat that we would be making a good $25,000 in aesthetic updates before moving in, and over time we'd probably do another 25k worth of work.
What worries me is that a house needing that kind of visible work (being a few decades old) on the surface may have invisible problems.
We're basically at a point with it where we'd like to get an extremely thorough, negative outlook sort of inspection to give us a good idea of worst case scenario costs.
My first thought is that maybe we should get an agent, since supposedly our agent would be looking out for our interests. But I really don't believe that shite, certainly not in our situation, because if the house seems to be turning into a money pit we're going to walk away and may not even be interested in something else for a couple years. I very sincerely doubt any agent won't be motivated to just get their usual inspector to okie-dokie everything.
Am I better off hiring my own inspector and following through on my own without an agent, and if so, any recommendations on a BR area inspector who will go through (preferably with me and the wife tagging along) and actually tear the place apart for us?
This post was edited on 5/12/14 at 12:47 pm
16
Posted on 5/12/14 at 12:45 pm to Huey Lewis
quote:
Do I need a buyer's agent
No, but they sure are helpful.
Posted on 5/12/14 at 12:46 pm to Huey Lewis
that's way too long to read
Posted on 5/12/14 at 12:49 pm to TH03
quote:
that's way too long to read
But I broke it down into short paragraphs.
Posted on 5/12/14 at 12:49 pm to Huey Lewis
Yeah, I'm sure the years of experience they have with seeing issues day in & day out won't be as helpful you going at this solo. Home inspection is part of the adventure the other part is actually making sure you don't get screwed in numerous other phases of the process.
This post was edited on 5/12/14 at 12:50 pm
Posted on 5/12/14 at 12:50 pm to Huey Lewis
I would go with nope. If you sign with a buyer agent for this one deal and doesn't work out then you find something 4 months down the road on your own, they will probably want their cut.
Posted on 5/12/14 at 12:50 pm to Huey Lewis
Selling agent has to split commission with buying agent. No reason not to have one.
Posted on 5/12/14 at 12:50 pm to holmesbr
quote:
If you sign with a buyer agent for this one deal and doesn't work out then you find something 4 months down the road on your own, they will probably want their cut.
False
quote:
Selling agent has to split commission with buying agent. No reason not to have one.
True. You're paying for it anyways...part of why my comment was aimed at your vast knowledge of the system up there.
This post was edited on 5/12/14 at 12:52 pm
Posted on 5/12/14 at 12:51 pm to Huey Lewis
The agent can give you recommendations for inspectors, you don't have to use theirs.
All the inspections I've been to, they usually want you there.
Interview agents, if you really want to use one, and find the best one for you.
All the inspections I've been to, they usually want you there.
Interview agents, if you really want to use one, and find the best one for you.
Posted on 5/12/14 at 12:51 pm to holmesbr
no. if the contract is up, they don't get shite
Posted on 5/12/14 at 12:58 pm to holmesbr
If you sign with a buyer agent for this one deal and doesn't work out then you find something 4 months down the road on your own, they will probably want their cut.
That's what mine tried to do. We signed the agreement for 3 months thinking we were doing a good thing. She was real interested the first 2 weeks and showed us a bunch of crappy houses and then showed us one of her houses that happened to be on the market. We balked at all her attempts bc we were not going to settle on mediocre. She quit calling and didn't show us anything else after that.
I found a house by owner and bought it. Luckily it was under the square footage the bitch and I had originally agreed upon, bc she read in the newspaper that I had closed on a house and she called me up looking for her cut.
Home buying is a nasty business, probably right above used car sales IMO.
That's what mine tried to do. We signed the agreement for 3 months thinking we were doing a good thing. She was real interested the first 2 weeks and showed us a bunch of crappy houses and then showed us one of her houses that happened to be on the market. We balked at all her attempts bc we were not going to settle on mediocre. She quit calling and didn't show us anything else after that.
I found a house by owner and bought it. Luckily it was under the square footage the bitch and I had originally agreed upon, bc she read in the newspaper that I had closed on a house and she called me up looking for her cut.
Home buying is a nasty business, probably right above used car sales IMO.
Posted on 5/12/14 at 1:00 pm to Huey Lewis
Seller has to pay anyways, so why not?
As a seller, im telling you It sucks.
Why should I have to pay your agent? I don't need them you do.
As a seller, im telling you It sucks.
Why should I have to pay your agent? I don't need them you do.
Posted on 5/12/14 at 1:01 pm to Huey Lewis
quote:
Huey Lewis
Watch this, I'll cut out all the stupid shite that we didn't need to know from your post.
quote:
Wife and I are planning on moving into a larger house within the next three years or so any information you post here will be rendered useless as we are nowhere near pulling the trigger, i'll now go frick myself
You're welcome.
Posted on 5/12/14 at 1:03 pm to TIGRLEE
You said you have 5 yrs to look. Trust me, something else will come around within the next 5 yrs that you don't have to be concerned about dropping $25k into, right off the bat.
Posted on 5/12/14 at 1:07 pm to Huey Lewis
quote:
Home buying situation - Do I need a buyer's agent?
They are helpful for the following situations:
1) finding a big list of possible homes
2) negotiating with the other realtor
3) helping with all the documentation during the negotiation process
If you find a home that is not listed with an agent (and you don't have one either) then you might be able to negotiate a better deal since the seller does not have to pay 5-6% to the realtors to split. But if the seller already has a realtor then you might as well have one also.
If you do not go with a realtor, then make sure you familiarize yourself with FSBO and contracts.
Posted on 5/12/14 at 1:08 pm to Huey Lewis
quote:Yes, do this before you put the house on the market. Depending on the size of the house, pool, etc. it will cost you between $300-$500.
Am I better off hiring my own inspector
quote:I have been present for the most the inspections being done for houses that I have bought or sold.
who will go through (preferably with me and the wife tagging along) and actually tear the place apart for us
Posted on 5/12/14 at 1:09 pm to TIGRLEE
quote:
Why should I have to pay your agent? I don't need them you do.
Well you don't have to sell it to someone with a buyers agent.
Posted on 5/12/14 at 1:10 pm to Huey Lewis
You don't pay for the buyers agent the seller does. It costs you nothing to have a buyers agent.
Posted on 5/12/14 at 1:13 pm to YipSkiddlyDooo
quote:
Selling agent has to split commission with buying agent. No reason not to have one.
Posted on 5/12/14 at 1:17 pm to Huey Lewis
If you are wanting to buy in the next 0-5 years why sign up with any of these leaches? You and your wife do you own homework and hunting for a home.
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