Below is a link to the Sunnyvale BMR website:
Under the "I am eligible, how do I buy?" you will see:
"Note that a real estate agent is not necessary for the purchase a BMR home; however, you can choose to select a participating real estate professional, at YOUR OWN EXPENSE."
The "Participating Realtor List" is located at:
All of the Agents charge a $3000 COMMISSION when representing a Buyer.
Also, the BMR "Participating Lender List" is located at:
Now, regarding the hiring of a Buyerâ€™s Agent:
This depends on how risk averse you are â€“ do you consider the $3K fee to be an unnecessary expense or insurance?
Probably the best thing you can do is to contact some of the approved Agents and ask the simple question of why you should hire them!
In this case, it sounds like you would be buying a brand new built home; therefore, I would assume the Builder would be responsible for issues -- confirm this and/or understand your exposure (depending on the answer you may want to have your own property inspection performed).
To be frank, none of the new home builders will pay for the commission to cover the Realtor from the participating pool of Realtors willing to work on a BMR unit purchase. The reason...the developer is already taking a sizeable price reduction in selling the home through the BMR program so that there is no incentive to pay for the fees, and the City of Sunnyvale is also working hard with mostly volunteers to run the program to keep costs down for everyone.
Does this mean you'll need a Realtor to purchase a home in a new homes development? Short answer...no.
The developer has their own contract, their own agent, and they understand the process to purchase a home through the BMR program with the City. Since most BMRs are "standard" units, there's little to negotiate in terms of upgrades, and there will be no incentives offered to BMR purchasers to negotiate as their might be with a home bought at the market rate.
So feel free to look at the home and to negotiate the purchase for the BMR. Make certain that you adhere to the rules promulgated by the City in order to purchase the home correctly and, more importantly, to (when the time comes) SELL the home correctly. Unless you plan to hold the home for an extra long period of time, you won't be able to sell it for market price when or if you wish to sell. Be sure you're comfortable with all of the terms before purchasing.
Allison James Estates & Homes
Given that the seller pays the agentâ€™s commission, what do you expect to gain by DIY home buying?