Home Buying in Castro Valley>Question Details

A Grewal, Home Buyer in Castro Valley, CA

Need for an agent?

Asked by A Grewal, Castro Valley, CA Tue Jul 16, 2013

The owner of the property I am renting is interested in selling it and I am interested in buying it. If we agree on a price, do either of us still need an agent? I think we could handle the transaction through a real estate attorney. Any advice is appreciated.

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6
Don't try to go "solo" on this.....even though everything seems fine at this point, all you have to do is introduce one challenge and things can become quite tricky....seek the support of an attorney that will represent you specifically on this to protect your interests.

There could be any number of things that could go left unaddressed without the proper support.

Good luck,

Bill
0 votes Thank Flag Link Thu Oct 17, 2013
Buyers don't know that they actually is the person paying the commissions when they buy a house in the form of a higher prices for the buyer. Most agents will tell buyers they don't have to pay the commission. This is a lie agents used to be dishonest to buyers. The buyers are actually the ones who pay the full 6% commissions when they purchase a house because the seller has to sell their homes at a price 6% higher just to make sure it covers their commissions they pay to the agents. You see what I mean?

You might need an agent if you need someone who knows an area well so an agent could help people find the best location for a community they might want to move to. That is one of the biggest assets in using an agent but I think the commissions they charge is way too high for their limited hours of work especially during good times in the economy.
0 votes Thank Flag Link Thu Oct 17, 2013
Your statement is not true and makes no sense. Buyers buy a property and write a contract (with or without an agent) to do so at their perception of the market price. They do not generally have a fee agreement and don't pay a fee for that service. All seller fees are negotiable and paid pursuant to a written agreement. The seller is the one who negotiated a written listing contract and agreed to pay a commission from the proceeds of their sale, in advance.
Flag Tue Nov 19, 2013
It sounds to me like you don't know what you are doing. You need help and guidance. You are trying to get free advice from professionals that you have no respect for. I say to people that are looking for something for nothing is good luck with that. How many peoples time are you going to waste? you will end up doing nothing anyway and then you will probably blame all the lame Realtors that actually gave you an answer.
0 votes Thank Flag Link Sat Sep 7, 2013
Hello A Grewal,

You do need an agent to make sure all the paperwork is handled correctly and the disclosure packet has been completed by the seller. Then there is the escrow that needs to be coordinated, appraisals and the whole loan process needs to be managed. The inspections and the repair needs to ne negotiated. All the hurdles that come in a Real Estate Transaction can be quite overwhelming and you can only get an agent to explain all this to you

An Attorney will just do the main purchase contract and the rest would be up to the buyer and seller to handle.

I used to live in Castro Valley so I know the area very well. If you need my help, let me know. We can handle the paperwork for a flat fee.

Meena Gujral
Help-U-Sell Achievers Realty
510-279-9580
http://www.helpusellachievers.com
0 votes Thank Flag Link Wed Jul 17, 2013
One note to add...

If you and the owner both decide to use an agent, things could be more beneficial to you cost-wise. Typically, an agent's commission is paid by the seller (for both the listing agent and the selling agent). Thus, you could eliminate the expense of an attorney or agent on your part. Just something to consider!

And do follow John's advice not to share an attorney or agent. Great point!

Best regards,
Alan Kurpiewski, Realtor®
CA BRE 01912043
(619) 35-HOUSE
(619) 354-6873
http://www.homes4schools.com
homes4schools@gmail.com
0 votes Thank Flag Link Wed Jul 17, 2013
Whether you do the transaction with an agent or an attorney, make sure you each have your own agent or attorney. NEVER share an attorney or an agent, even if you have already worked out the general terms.
The benefit of going with an attorney is that they are overall usually cheaper than agents, however, they also don't provide many of the services an agent provides. They're great with the contracts, but most (but certainly not all) know little about inspections.
If you can each get your own agent for less than an attorney, that may give you the best overall value.
0 votes Thank Flag Link Tue Jul 16, 2013
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