Home Buying in Grand Prairie>Question Details

lcj2n3, Home Buyer in Houston, TX

My husband and I purchased a new home 12 yrs ago without an agent. We paid 9,000 in closing. An agent suggested those costs could have been reduced.

Asked by lcj2n3, Houston, TX Wed Jul 10, 2013

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The general answer to your non-question is;
A Realtor protects the interests of their Client in many ways; if we tried to list all the things we CAN do, we would forget a few.
We do Problem Solving and we do Problem Prevention.
We try to write an Offer that is advantageous to you in many ways, not just the Offering Price.
Closing Costs would be just one topic, but if it was the highest priority to you; we could do something.
1 vote Thank Flag Link Wed Jul 10, 2013
Well thats one of the reason its important to work with a professional agent when you purchase a home. Your home is one of your most expensive purchase you will make. WHY take a short cut and do it on your own when seller usually pay for the commission.

Its just something as a buyers should think about.

Dixon
Realtor
http://www.findyourtexashome.com
0 votes Thank Flag Link Thu Jul 11, 2013
If you used an agent the seller pays their commission. The closing costs were probably partially lender related. An agent can work up what is called a net sheet for you. This is a form that shows all of the typical closing costs involved in the sale of a home so you can see what you would net after commissions and closing costs at any given sales price.

Hope this helps.

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0 votes Thank Flag Link Thu Jul 11, 2013
Great posts and information here! You may consider interviewing a few realtors if you are in the market again, and select one to best represent your specific needs. Agents can provide lots of helpful information, guidance, and suggestions to help safeguard your real estate investment.

Diane Briggs, REALTOR®
Asset Realty
(214) 289-0093
http://www.NeedMyHomeSold.com
0 votes Thank Flag Link Wed Jul 10, 2013
No professional can render an opinion unless all the documents are reviewed.

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My website is updated daily therefore saves you time search accurate information


Lynn911 Dallas Realtor & Consultant
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972-699-9111
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0 votes Thank Flag Link Wed Jul 10, 2013
I always think you should have an agent representing you.
I just helped a client save $9000 in closing costs choosing one lender over another for example, not including the difference in interest rates.

Sometimes there are other places we can save you money as well.

$9000 seems like a lot, but could also depend on the price of the home.

We're here to assist you if you need it. Normally a buyer's agent can save you money, time, and a lot of headaches. Maybe not always, but rarely should it cost you more.
0 votes Thank Flag Link Wed Jul 10, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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It is always to the buyers advantage to have a Realtor representing their best interest, especially since the seller generally is expected to pay the commission. As has been illustrated in other answers, more information regarding your purchase is needed to discuss whether or not $9,000 in closing cost was too much.
0 votes Thank Flag Link Wed Jul 10, 2013
Maybe.
Depends on the purchase price and the rate you got.
Rates and fees go hand in hand.

Was all $9000 closing costs? Or were some of these 'pre-paids'?
Costs + pre-paids = settlement charges.

No one can answer your question with such little information.



Tom Burris
Mortgage Banker
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tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
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0 votes Thank Flag Link Wed Jul 10, 2013
When you purchase a home the seller normally pays the buyers agent commission not the buyer. This is customary and normal.

This is why you see buyers agents tell buyers this is no cost to them.

If you bought with a builder this is normal also they do not increase the price if you bring an agent they make more profit if you do not. The builder has a large incentive to pay the agent because they want the agent to bring the buyers they are working with to there homes.

You should have someone look at your prior closing statement to see where the fees where in order to see if your closign costs where higher than normal.

Hope this helps
Walter
0 votes Thank Flag Link Wed Jul 10, 2013
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