If there is no fee involved on the buyer's side, it is highly irregular.
If your have no agent representing your interests in this sale, and the "free" agent of the buyer is a friend of the buyer, you might be in for problems.
First of all, it's highly possible that the very reason you are approached before the house is on the market is because the buyer knows that the price they are offering is lower than what you could have gotten if you had the house marketed properly through a good listing/marketing agent.
Second of all, if you disclose something that you sincerely believe to be true, but later on it is found out to be different from what you said (with no fault of yours), you might be liable...Improper disclosures or missing disclosures could spell trouble, even with the best intentions.
However, if you think like a home inspector and fix things that need to be fixed in the house (because not doing this could lead to after inspection price re-negotiation, or the buyer walking away if you are selling "as is"), you will be better off. If you team up with a great local agent (with massive internet exposure), and you stage your house - you'll get more than the market price, and definitely more than selling by yourself - without any problems.
Best of luck,
CDPE â€“ Certified Distressed Property Expert
Beachfront Realty, Inc.
There are a lot of disclosures you are required to give buyers in San Francisco that don't occur anywhere else, so you need to be protected and you cannot rely on the buyer's agent to do this.It is your responsibility.
I would advise you to get a broker to represent you to deal with this agent to cover your requirements and make sure everything goes smoothly - there is little worse than going to court after a sale. If it looks like an easy deal we MIGHT do it for a reduced fee.
Here, probably more than anywhere, you need great representation. Don't be tempted by lower expenses. I say might because even though it looks like an easy sale it can sometimes be more work to do a transaction like this over one that is listed on the MLS.
Lance King/Owner-Managing Broker
Secondly, have you seen an offer in writing? Is the buyer financially qualified?
Thirdly, have you had inspections on the house (both termite and contractors)? and if so, has the buyer approved the results of those inspections?
There are costs involved in marketing a home, and I can see why going with a buyer who may avoid at least some of those costs is enticing.
As long as both you and the buyer are comfortable with the economics of the deal go ahead. Perhaps you will leave a bit of money on the table, perhaps the buyer will overpay for the privilege of not having to compete with others- neither of you will ever know the answer.
415 860 0765
Make sure you get and excellent agent to represent you and save you time and headaches, should you decide to sell. Even if you sell to the buyers you mention (without putting the home on the market), engage a real estate agent to do the work.
Feel free to call me at 415-200-7202/
I did the same thing when I purchased my home. I would recommend having a Real Estate agent represent you. There are so many disclosures that really have to be done properly so that your interests are protected. You don't want something coming back to bite you. Also, just to get through the escrow process and to save yourself from having to deal with the possible issues that could arise, have a Real Estate agent shield you and do the leg work. You will be glad you did and it will be worth the commission.
Good Luck and please let me know if I can answer any other questions for you.
Herth Real Estate
Just go to http://www.dre.ca.gov and click on CHECK CALIFORNIA REAL ESTATE LICENSE
then just type in the person's license I.D. Each real estate professional is required by law to provide
their real estate license I.D. number.
A selling agent can easily get data on similar houses that have sold recently in your area to make sure
you get the best price for the sale of your house. An agent who represents you can oversee the escrow, transaction details and paper work signing. Your agent is paid to help get you the best price
and look out for you. Usually, the seller pays 5% commission.
Of course, you need to think about why you want to sell in the first place - your motivation.
For example, a seller may want to relocate to a different neighborhood, want to up size for a growing family or down size if kids have moved out or prefer to rent and take advantage of the $250,000 to $500,000 free capital gains tax advantage.
I'm here to help further if you contact me directly:
Helen Yuen, Realtor Associate, Land & Property Investments, Inc Sunset SF
email@example.com (415) 469-0577 cantonese/english
Representting buyers * sellers * investors
in house mortgage consultant * free opinion of your property
Oggi Kashi's iPhone
Paragon Real Estate Group
415 . 690 . 3792 - M
415 . 874 . 5020 - O
In California usually Seller pays commission to Listing Broker (who represent Seller) and
Listing Broker will offer part of his commission to Co-operating Broker
(aka Selling Broker).
You should consult your real estate attorney.
It could be that you have come across a hard working agent, who is trying to find a place for his buyers to purchase, and in Reality you pay the commission from the sale proceeds not the buyer, this is how it usually works.
The negative side is that in this market of low inventory and a high demand from buyers, why would you consider selling to anyone without having your home listed for sale professionally and marketed to achieve the best price to you. We see so many homes with multiple offers.
I would at least recommend having a different Realtor value your property before deciding anything else.
I am available to off this service to you, and if you like the way I work ??? We can talk about this then.