I hope this helps! Good Luck!
Keller Williams Realty - Leesburg, VA
I think that you could approach an agent with a one percent (1%) facilitation fee, that is really not abnormal. The most important things to know are your contingency dates, how you can terminate the agreement, and what is the expectation of the agent you are hiring.
You are making a good decision to involve a realtor for some peace of mind and to help the transaction go smoothly. Every realtor is different as to fees that they might charge for services rendered. It is best to have a discussion to express your needs, expectations and then come to an agreement as to compensation.
Hope that helps.
Keller Williams Realty
If you only want a contract written and reviewed, you should contact a lawyer.
However, keep in mind that a lawyer will merely make sure the contract is LEGALLY well written so it can be presented in court if the need arises; a lawyer will NOT do the market analysis or any of the multiple Offer to Closing items that must/should be done before the Closing can take place.
Federal Anti-Trust laws forbid real estate agents to discuss commission in public or in private meetings. Indeed, real estate commission is fully negotiable. I suggest that you contact several agents to find out their brokerage fees.
An attorney does the settlement, the realtor does everything up to the settlement table.
703 244 3997
1. For starters you should ask and agent to do a Market Analysis to see what the home is actually worth to determine whether you are paying above, at or below market value for the home.
2. A Realtor to negotiate on your behalf and professionally represent your best interests.
3. An exclusive right to represent buyer agreement (now required in Virginia).
4. NVAR contract and addendum's that someone is representing your best interest.
5. Mortgage providers working for your best interest and the ability to actually get you to closing, while getting you the best rates and type of financing for your particular situation.
6. Title company to ensure their are no existing liens and provide you with "clean" title.
7. Home inspection/radon inspection to ensure there are no major issues with the home and someone to help negotiate those items for you. Contractors to help estimate repairs.
8. Meeting with the appraiser.
9. Scheduling termite inspection.
10. Order a home warranty if applicable.
11. Help assist in obtaining home owners insurance.
12. Help review your home owners documents.
13. Final walk through to ensure the home is in the same working condition.
14. Review closing documents such as your HUD 1.
15. Assist you with movers and utilities.
cash deal? or are you getting a mortgage?
and who says the homes value is in the lower $600s? Did you have it appraised? and if your getting a loan, that bank will do the appraisals.
YES having a Realtor or Professional Representation is in your best interests.
Buyers sides fees run 2.4% to 3% of the purchase price paid by the seller.
Remember the SELLER is a Realtor. So they know THEIR SIDE OF THE DEAL.
Best of Luck
With a home purchase of that size, hiring someone to help you do due diligence is money, and time, very well spent.
Hope this helps, and if I can help further in any way, feel free to contact me.