Greg Morris

I'm sure Jr. isn't a legal professional. I know attorneys/lawyers have to go through tons of school in order to practice law. That doesn't mean there in it for your best interest, I'm just stating the facts. To ba a reale state agent (not a broker mind you), I could qualify with a few night classes. I'm not trying to be insulting here, just keeping it real . . . - Wed Aug 15 2007, 12:38

I built (and sold) the same home last year. We interviewed two qualified real estate professionals and both suggested that we list the house for $799K. Given the crappy sales market I understood the need to price the home to sell but pricing it to sell and paying $56K in commission fee? Yikes!! We had a nice sign made "Home for Sale", did a $599 listing (a flat rate paid to a broker to have the listing placed on the sacred MLS). We did offer 2% buyers agent commission and were scoffed at by some real estate proffessionals. "I only show the homes that offer the higher commissions . . .". A buyer saw the listing and we made the sale. It actually settled for $805K and I was smug seeing as got more for the property myself than the two "professionals" would've and I paid 0% commissions . . . I'll never look back. Since then, I've purchased property, making my own offers without the "aid" of a realestate agent. This always equates to a better price for me as the seller knows they wont have to pay a buyers "agent". Everything is negotiable. I don't doubt Jr. is successful but let's be realistic about what's really going on here . . . - Wed Aug 15 2007, 12:12

Straight talk is a straight shooter. When you call, I'm recommending that you also solicit a midsized, local realestate attorney. I think savy realestate agents will always have work as they can adapt to the changing conditions. I know of one who maintains an ala carte list of services . . . in lieu of straight commission talk . . . - Wed Aug 15 2007, 11:24

This sensitive subject has become a forum for insecure or inadequate realtors to express their frustrations at what is an erosion of the need for the agent. It is the agents that have made it "industry standard" for the seller to pay the buyers agent. As a seller, why should I pay your agent? Negotiate the fee and pay your own agent, that ought to save you money on the purchse as I don't have to "build in" an additional 2 to 4% on top of what I want for the home.

To answer Pat's question - presuming you do not have a contract with the agent, you're not obligated to use them. They didn't find the house - you did. Why is that? Represent yourself and negotiate a price based on what other properties of like kind have sold for. Make it contingent on a home inspection that finds no existing problems. There might be minor problems that are discovered but you can negotiate something more with the seller in this case or you can choose to walk away - entiltiled to a full refund of earnest money. Make sure the contract clearly states the rights you want to have. A good realestate attorney could handle all of the actual contract matters for $1,000 (probably a lot less), more if you want them to attend the settlement. This is a lot more economical than using a real estate "agent". Real estate agents want you to believe that you need them but for the majority of us, we really don't. Given the sea of unknowlegeable, unimaginative, untalented, lazy "agents" out there, it is important to realize that there are people there who can truly be "your agent". Not just a wind bag, middleperson trying to advantage of an easy situation (seller pays) but an informed, seasoned, articulate, educated individual worthy of forfeiting hard earned money to. God agents are there but they are further and more far between than we imagine.

With hard work, patience & literacy, we can do most of these tasks in a much more economical fashion. Good luck . . . - Wed Aug 15 2007, 10:57

If it is not governed by the contract, why not negotiate something reasonably fair to both parties? At the end, something is better than nothing. Talk to the builder first (in person). Try to resolve it amicably. Consulting with a professional will cost you more money but may be worth it if you have no other options. Make sure the projected cost will outweigh the gain. - Wed Aug 15 2007, 12:26

Presuming your contract did not state terms governing earnest money, the builder would not simply have a right to keep it. I understand that contracts help a builder to lock in a start date and if such a "start" is cancelled, the builder could suffer a "loss" as they might be unable to "fill" the placeholder that was "sold" to you. If a contractor had a fear of such a loss however, protection ought to be included in the contract. If the builder in question has a busy schedule filled with work, It is unreasonable for them not to give you a full refund of your earnest money. If, on the other hand, your "start" is one of few he has managed to schedule for the remainder of the year, it could be unfair for you to expect him to fully refund your deposit seeing as you signed a contract for the purchase and the builder has made plans depending on the contract, probably spending resources in planning your work (ie. the contract).

Contracts need to be taken very serious no matter if they are half a page or twelve pages. If you do not agree with a particular contractual term or you feel that adding some of your own language to the contract could be in your best interest, delete/add it. Of course the other party needs to agree by initialling the change but this is perfectly ok to do. If someone were uneasy about making any changes to a contract they themselves issued without discussing the terms, that should raise suspicion. Afterall, changes to the "official" contract are nothing more than simple negotiation.

Regarding your backyard objection, I'm sure you have a property plat and without having the projects concept committed to a plan by a civil engineer, it would not be surprising to find the front or rear yard to be larger/smaller than "discussed" as it is dependent on the home location. Obiously your land's shape/features haven't changed.

In the absence of any contractual protections for either of you in this matter, I encourage you to go back to your builder withreasonable expectations. If you find the builder unreasonable, then there are several things you can do and I'd be prepared to let them know face to face that you mean business . . .

There is a particular power in looking someone in the eye . . . - Wed Aug 15 2007, 09:28

As Peggy did, I'm presuming you mean at an auction? If there is a piece of property you want - go for it!!! Again, per Ms. Gabour, you need to do your homework first. Research everything important prior to the auction. You need to establish that the lot is suitable for your intended use first and foremost. A title search would be adviseable and you can do this your self at the respective courthouse (plan on spending some time here if you've never searched land records before). You need to research and establish a range that comparable properties have sold for. Don't mistake the listing (wish) price with actual sold (reality) prices. Live in the real world, your established max offer should be based on actual sales pricing and then add more depending on your want factor.

If prepared, you will be poised - Wed Aug 15 2007, 10:11