Home Selling in 95961>Question Details

Frustratedse…, Home Seller in 95961

How an I protect myself in California if a buyer wants to purchase a property but is refusing to as long as a real estate agent is involved?

Asked by Frustratedseller, 95961 Fri Feb 25, 2011

The buyer is an investor who claims I do not need a disclosure.

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8
To watch over your best interest you need a pro on your side, call me and I explain way.
0 votes Thank Flag Link Thu Jan 26, 2012
Frustrated,

There are many reasons "investors" dont want agents involved. Agents are required to follow the law and are bound to a duty to be fair and reasonable and negotiate and protect YOU from liability. For example one of the duties an Realtor agent must perform is a duty to disclose! Disclosures in some cases have resicssion rights that protect BUYERS... so now ask yourself as a seller if it is in your own interest to disclose or not? Now based on this information, is this saavy buyer loking out for anyone but himself? Do you think that an agent would mess up his free lunch? Get an agent (not me please)... you need one
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Sat Feb 26, 2011
I have no doubt this investor will hit you HARD during the inspection phase. You will need to pre-emp that by:

1. open an escrow account and demand 10% EMD
2. ask investor to waive inspection upfront (fat chance i think)
3. put "as is" or even stronger terms, as I have seen on the HUD but can't remember, EVERY where
4. have a penalty $/day if pass agreed upon COE

hey, if investor agreed to all of those, gezzz ... maybe he just doesn't like Realtors :)
0 votes Thank Flag Link Fri Feb 25, 2011
Why are you selling to an investor, who you know is lowballing you in the first place?
0 votes Thank Flag Link Fri Feb 25, 2011
Gary's comment below may be right. All kind of red flags or "bulbs if you preferred" going off as I read your message. Tread the water carefully. The investor is smarter than you think.

You don't have to have an agent in the deal officially, but you can always have an agent/attorney review the paperworks prior to signing it. I think some agent/attorney can work out a flat fee for this. This will be between you and your agent/attorney. Who care about the investor as long as he has the money.


good luck
0 votes Thank Flag Link Fri Feb 25, 2011
The investor and I agreed on a price before a real estate agent was involved. I only brought in the real estate agent to make sure everything with disclosures and such went properly.
0 votes Thank Flag Link Fri Feb 25, 2011
event with your own listing agent ?
0 votes Thank Flag Link Fri Feb 25, 2011
Frustrated,
I would question what reason the buyer would have for that. If your property is listed with an agent / agency they represent your interest and the buyer normally does not pay them anything. If your home is not listed with an agency, you can have your attorney help you with the sale. You do need full disclosure when your home is sold this also can help protect you. Sometimes investor buyers are looking to low ball an offer to a seller and are tying to make it appear that the seller will net more money if they cut out the Realtor. Most of the time the opposite is true. The buyer takes advantage of the seller and the seller actually nets less than if they were working with a knowledgeable agent / agency.

All the best,
Gary Geer

http://www.GaryGeer.com
0 votes Thank Flag Link Fri Feb 25, 2011
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