VA buyer, Home Buyer in Greensboro, NC

We found a FSBO home are wondering if we can buy home without our agent. The seller refuses to use agents.

Asked by VA buyer, Greensboro, NC Mon Mar 25, 2013

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13
You’re asking the question to a bunch of Realtors® whose very livelihood depends on you hiring them how do you think they are going to respond to your question. With a hire me cry or always hire a Realtor® cry. All joking aside you can purchase a home without a Realtor®, but this may not be in your best interest for many of the reasons stated below. It does bother me that many here are throwing out the old claims of we are highly trained and skilled Realtors® and we have extensive training and experience which no lowly home buyer can match. The fact is most realtors® are novices who do less than 6 transactions per year, most have no college education and 90% of the designations they have where obtained at a 2 day seminar & a paid fee. (Ps everyone passed whose check didn’t bounce) The real question as I see it is how can you protect your interest, get as good of deal as possible & meet the terms & conditions set forth by the person selling the home. Your team, which you will have to pay out of pocket should consist of a REAL ESTATE attorney to review the contract, a home inspector which is an architect or engineer (no 2 day seminar guys, many have about as much training as a realtor®), and a “consultant” who should be a full time realtor® who does over 15 transactions per year. Honestly this “dream team” should be considered for every real estate transaction. Good luck in your endeavor!
2 votes Thank Flag Link Mon Mar 25, 2013
It sounds like it is unmanamous!!!
2 votes Thank Flag Link Mon Mar 25, 2013
Proven fact that there are probably multiple reasons the Seller does not want to use an Agent, especially in this market! First & foremost they were already advised what a legitimate value was for their home and most probably want more!
1 vote Thank Flag Link Mon Mar 25, 2013
Why do you care what the Seller wants? They also want you to pay more than asking price and waive your inspection (go ahead, ask them if that would be okay!).

All the best,
1 vote Thank Flag Link Mon Mar 25, 2013
The answer is I would NEVER,NEVER buy a house without a Real Estate Agent. Honestly speaking a FSBO that doesn't want you to use a Real Estate Agent,I will run very fast from them. How do they expect you not to seek the assistance of a knowledgeable and competent real estate professional to help you make the biggest purchase of your life. THAT IS A BIG RED FLAG.


And as long as a FSBO not only doesn't want a real estate agent to help a home buyer buy their house,but they didn't hire a real estate agent to help them sell their house,they are always going to be the buyer of their own house-Simple as that.


So please and for the love of God,please don't buy a FSBO without the representation of a Real Estate Professional-I DON'T CARE HOW GOOD THE HOUSE LOOKS. Much luck to you.
1 vote Thank Flag Link Mon Mar 25, 2013
As you can see from the concensus, yes you can but you need to ask yourself should you. It is true if their sole reason is not wanting to pay commision you can pay that to your agent. Often FSBO sellers who are so strongly against using an agent are trying to hide something serious from you the buyer or have had a experience with another agent they don't want to repeat.
The buyer's agent works for your interests in this transaction NOT the sellers. It appears that you are coming from out of the DC area. If so, you are just the kind of buyer a FSBO who has something to hide is looking for to take advantage of your lack and local knowledge.
As a buyer's agent I would caution you to be fully prepared to walk away from this home and find a better suited one in which the sale benefits both YOU and the seller.
1 vote Thank Flag Link Mon Mar 25, 2013
You can if you are not under contract with a buyer agent. Buying without an an agent can be risky. There is usually a reason someone does not want a professional agent around. A good buyer agent should be able to save you more than the fee they earn. Speak to one and see how they can still guide you
0 votes Thank Flag Link Mon Mar 25, 2013
One of the biggest considerations here is price. Typically FSBO homes are overpriced. That's often why they don't have an agent, because they couldn't find one that would list it at the ridiculous price THEY, the seller, think it's worth. So now, you have an overpriced house AND no seller's agent, so the seller is looking to keep all the proceeds, clearly s/he would try to keep agents away. But, if you love the house, and you're willing to take the risks and pay more than you should, then it's okay. And I'm not being facitious about that, sometimes people are willing to pay a premium for a property they really love, and as long as you do so with eyes wide open, it's okay. Just make sure you're eyes are wide open...
0 votes Thank Flag Link Mon Mar 25, 2013
I agree with everyone's statements regarding, insisting that your agent represent you. Why is the seller not willing to work with an agent? If he or she nets a similar amount, why would they care? Also, from what I gather, it seems like you have a repoire with your agent, do you want to really have that discussion with your agent; "well you were very helpful, but we found a FSBO and they said we can't use you; goodbye." I would insist that you get to use your agent or you walk. At least you can try that approach and see what happens. 90% of FSBO are eventually listed anyway, so if they really want to sell their home, they will allow you to use an agent. Best of luck with your home purchase.
0 votes Thank Flag Link Mon Mar 25, 2013
The cost of professional recommendation may be a genuine concern for the seller. There could also be other issues that you may not find out when it's too late to back out.
Providing options often leads to agreement. Here are a couple of ideas:
1) agree with the seller and get advise from a real estate attorney on how to proceed
2) Offer to pay the realtor representing you yourself
In both cases above, ask that dollar amount of the cost to you be paid to you as a subsidy at settlement.

If you decide to make an offer be sure you inspect EVERYTHING. And make SURE you understand the process, forms and all your options THOROUGHLY before signing anything.

Buying a home is a big commitment (30 year mortgage!!!) that is full of legally binding issues. Get good advice:
Santiago
202-552 5624
Testa@testarealestate.net
0 votes Thank Flag Link Mon Mar 25, 2013
Hi VA buyer, will the seller allow you to compensate a buyer's agent on your behalf? It should not be a problem if costs is the reason why.
0 votes Thank Flag Link Mon Mar 25, 2013
One thing that you could do is offer to pay for your own real estate agent. If the seller still doesn't want this than I would definitely think twice before buying a home from them. You can buy a FSBO home without using an agent but it is not recommended for most people. There are many things that go along with purchasing a home and a Real Estate Professional is always a good thing to have helping you through the process. The Buyer is almost always the one that will be on the losing end in a FSBO deal.
0 votes Thank Flag Link Mon Mar 25, 2013
Yes you can buy a home without an an agent, but it could be risky. Call a couple of Title companies & ask them if they help FSBO transactions. They should be able to set everything up for you.

You may also want to consider paying a Realtor to process the paperwork for you since it sounds like the seller does not want to pay for a Realtor's services. There are a lot of potential pitfalls you could be walking into without protection. Usually the Realtor will do this for a minimal fee since you have found the house.Find a title

Good luck with your purchase,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
Roswell.Moore@cox.net
http://www.ezAZloan.com

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0 votes Thank Flag Link Mon Mar 25, 2013
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