Q: I am looking at a house where the seller is not using a Realtor. Can I use my own? And who pays to have the purchase agreement drawn up?
?Gary, Mohawk, NY
A: Yes you can have your agent represent you. You just need to have them contact the owner directly. As to the purchase agreement, this should all be on your agent.
Matt Laricy is a Realtor? with Americorp Real Estate in Chicago, IL.
A: You most certainly can use your own!. Your realtor can get a one day listing agreement with the seller and agree on a reasonable reduced percentage for his services. You can also get a realtor to do the transaction paperwork as a Transactional Agent. You and the seller may share in the cost of having this realtor prepare the contract. You also can go to a real estate attorney and have them do it. Keep in mind you need a title company or lawyer to order title insurance and do a title search so that you are sure you get a clear title to the property. This is NOT a corner you should cut! You could wind up being responsible for some of the sellers old liens on his home. There is also a survey that may be required and the deed preparation among other standard procedures. Buying a home is an important step and spending the money now to do it right can save you a LOT of headaches later!
Joanne Bernardini is a Realtor? with Coldwell Banker-Casa Bella Realtors in Linwood, NJ.
A: I would have your Realtor draw up a purchase contract and submit it to the seller. Once the seller sees a ?real? offer they are more likely to allow an agent to be involved in the transaction.
Some sellers believe they are saving money by not using an agent. The reverse it true especially if there are errors in the transaction they may put them into a court action. Contact your agent today!
Good luck!
Jim Guido is a Realtor? with California Real Estate Internet Group in San Clemente. CA.
A: You can hire a buyer?s agent to help you buy this house. Who pays is just another point of negotiation. Your Realtor should contact the seller in advance to negotiate some kind of fee. If the seller refuses to participate in paying your agent, you can negotiate that as a condition of the purchase. You could also try offering a lower price to make up for the fee that you will pay your agent (assuming the seller is asking ?top dollar?). Worst case, you could end up paying full price for the house, and paying a fee to your agent on top of that. Bottom line: make sure you know how all of that will be handled BEFORE you make the offer.
Phil Lunnon is a Realtor? with Lunnon Realty in Lakewood, CO.
A: Dear Mohawk, Yes I would strongly recommend you do retain a good Realtor for your protection as well as the sellers
Dorene Slavitz is a Realtor? with The Real Estate Group in Culver City, CA and Torrance, CA.
A: We call sellers who are looking to sell their house by themselves either a FSBO (For Sale By Owner) or unrepresented seller. Typically their choice is based on money (trying to keep more in their pocket).
You are always able to have a Realtor represent you in the purchase of a home, but the important question that you must ask is if the seller will pay your Realtor?s commission. If you have a Realtor in mind, I would discuss the scenario with them and they can contact the seller on your behalf for the showing, but also ask about compensation. It must be agreed upon before and outside of the purchase agreement.
I am finding some sellers will pay the agent?s commission if I bring them a ready and willing buyer, we just have to ask :). If not, you can see about putting your agent?s commission on top of the sales prices so the seller still gets their bottom line and you don?t have to come out of pocket.
Hope this helps!
Kaera Mims is a Realtor? with Liz Moore and Associates in Newport News, VA.
A:
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- Who Is Responsible For Realtor Fees If The Seller Has Not Listing The Property For Sale?
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