The commission is supposed to be negotiable. But in Northeast Ohio many brokerages are writing 7% in the contract and telling the agents that is what they need to charge. Really this is technically antitrust and has been challenged in court.
At RED Diamond Realty ( Cleveland) the commission charged is relative to each homeowner but it is rarely more than 4%.
That is because 3% goes to any buyers agents out there from other brokerages.
Buyers who purchase a home from RDR are paid a percentage of the commission.
So when you hear this is the fee that we charge. Remember it can always be reduced.
I would love to help. Which property are you looking at? I may be able to pull it up. I am available the rest of the day by phone or email (whichever is easier for you). I look forward to hearing from you!
Associate Broker/ Realty ONE Group Premier
(o) 720.744.2670 (c) 719.440.4097
Explore your market by texting ROGTRC8 to 87778... more
Kudos to Brent for the stellar work! It is a shame that he was the exception in your home purchase experience, but not all agents are good listeners. I would probably avoid cash because technically all earnings have to go through your broker. But a new pair of shoes is a very sweet gesture and pretty funny too. In the end, the best gift you can give him is a referral!... more
It is possible to qualify for an FHA loan after one year. Most other loans will require two years, regardless of the other factors you mentioned. You might want to contact a few lenders and ask about the FHA option, or just wait the two years and have more loan options to choose from.... more
You might try putting together a rental resume and include a copy of a recent credit report. The rental resume would answer all of the typical questions found on an application, but also give you the chance to explain your story. The biggest risk of renting to a tenant with bad credit is that they will not care for your home (bad credit = irresponsible, generally speaking), so you should try to include references from past landlords, if possible. You can provide all of this at little or no cost.
Most big property management firms won't care about your story, as they probably have strict requirements (minimum credit score, for example). However, there are plenty of people who manage their own properties and might be more willing to listen. Craigslist is the best source for those rentals. Good luck!... more
Well you know what is wrong with the house, and you wont have to move.
Make sure that you do not pay too much for the house, perhaps have the seller agree that the price will be based on a professional appraisal.
Most likely the seller has looked on Trulia or somewhere to get an idea of the value. Trulia is based on properties that are on the market. Many of which are fixed up to sell. Your house will be as is.
You should probably ask the seller to pay all of your closing costs as it will be a lot less expensive and easier for the seller to have you buy it.
Properties with renters typically sell way under the market.
If you would like to get pre-approved for a loan give me a call, My pricing and service are extraordinary. I am also a licensed real estate broker and can walk you through the process at no extra charge.... more