Since it appears that you will not be obtaining your own representation, I would offer a few words of advice to you. Make sure you receive AMPLE due diligence & financing contingency periods, and that your offer is contingent upon an appraisal. Hire your own home inspector and termite inspector. Get a Home Warranty. Do not communicate to the listing agent anything you would not want the seller to be aware of during negotiations: the highest amt you are willing to pay, etc., as the agent may be obligated to reveal such info to the seller to protect the seller's best interests.
Best of Luck to you and I wish you many good years of home ownership.
I appreciate you and your husband wanting to go this alone. That doesn't mean that I agree but I do appreciate it. Many times buyers are lead to believe that they can save money this way and some times they can. I think the best thing that I or anyone else can do for you at this time is to provide you as much information as possible so that you may protect yourself. Please check out the web reference below for a wealth of information for first time buyers. Good Luck.
Why not have your own realtor to buy the house??? You do know the seller pays the commission for your realtor.
Think you are saving money by not using a realtor?? Not really. The listing agent just gets a bigger commission since they don't have to split it.
My wife is a real estate attorney and I'm an agent. Hire me to write your offer and maybe even get you a better deal!! You will be represented well.
ERA Sunrise Realty
You do not want the listing agent to write the offer!!! The listing agent represents the seller. A buyers agent is the correct way for you to proceed. Your agent will represent your wishes and desires and will help protect you through out the process. If you need assistance I will be happy to help. I'm just a phone call or an email away.
1. You can use the listing agent to help you write the offer.
2. You can find a realtor to represent you in your purchase
3. I can submit a referral and an agent will contact you and assist you with your purchase.
Firstly, why not hire a buyer's, real estate agent to look out for your best interests? There will be no out of pocket expenses for you, since the seller pays for the realtor fees. Secondly, congratulations on finding the perfect house, often, this is the most difficult part! As first time home buyers, the entire homebuying process can seem scarey and overwhelming! After all, this is a huge investment! Why not ask family members, friends, neighbors and coworkers to name a trusted realtor in the area that they would recommend. Ask them about their real estate experiences and why they would recommend their realtor. Then, call several of them and pick out the top three for a personal interview. Local realtors know the local, housing market and are usually members of a multiple listing service, so they can show you what other houses in the neighborhood are selling for. Also, HGTV hosts a show, called Property Virgins...It is all about 1st time homebuyers, you should watch an episode or two. Good Luck!
You look like an idiot by the questions and comments you have made. Find a good buying agent. This is common sense, it costs you nothing. From your questions and comments you do not know enough about real estate transactions. You obviously have know idea what it would cost to get an attorney do anything. Let me know when you want to sell so I can come and take advantage of you.
The seller of the home you want to purchase has already agreed to apay a commssion to the :listing" broker.
When the listing broker agrees to post the property for sale on the multiple listing service, they agree to pay the "selling" broker, that is the Broker representing the buyer, a set percentage of the commission. This coop fee is typically 50% of the total commission but agreements vary.
If you as a buyer are not represented by a Buyers agent or "selling agent" in real estate terms, the listing broker is entitled to keep the whole real estate commission.
The Listing broker is legally obligated to represent the best interests of the seller. They can provide no advice to you which would conflict with the seller's best interests.
Why not go ahead and obtain the services of a buyers agent?
Special Note: It is usually too late to do so after you have already been shown a home. Even if you go to an open house you should specify you are represented by a buyers agent and provide the business card or a least verbally give the name and borkerage of your buyers agent to protect yourself.
Well, to me it seems unnecessary to involve another party in this process, especially since we found the house on our own. We feel perfectly capable of doing our own negotiating on price and so forth. The parts we can't do, we're happy to hire professsionals to do (i.e. the home inspection).
The listing agent has been in business for 20+ years, and she says that it used to be customary for the same agent to write up the offer and present it to the sellers. I don't feel its right to assume the listing agent would do anything unethical; so if my husband and I concentrate on negotiating the price, she can handle the formalities.
I know that I can go out and find a buyer's agent (or employ one of the many helpful agents that replied to my question, thanks!), but I suppose I'm asking, why would I need to?