I was just posting an answer on the need for proper representation and just saw the above
Interestingly enough, I have a friend who's parents were up from Florida and wanted to purchase a little co-op or condo to be near their daughter in Brooklyn Heights.Â They were going to use me as a buyer's rep, but one sunny day they stopped into a listing broker's open house.Â The couple loved the co-op and made an offer on the spot.Â They couldn't believe at the amazing price they got.Â The listing agent told them they have a list of preferred attorneys and inspectors that they should choose from if they wanted a smooth transaction.
When we out for coffee they told me what happened and said the listing agent told them there was no need for a buyer's agent and theyÂ had a list of preferred contacts for due diligence.
I took the information on the property, looked up the details and explained to them it was so cheap because the land was leased and the renewal was up in only a few years.Â I gave a new list of impartial attorneys to choose from and he further confirmed there was a mass exodus of owners from the building for just that reason.
Needless to say, they got out before contract and didn't lose anything.
The value of a good buyer's broker is immeasurable.!