Patrick Sharples

In today's market, there is no reason to buy a home with these types of issues when you can probably find a better home in a better location at a better price. Run away from this property quickly and don't look back! - Fri Jul 25 2008, 14:50

Here is the problem Greg: Why would an agent bring a buyer to you as a FSBO and earn 2% when they can get 3% showing another home that is more than likely priced better where they won't have to do the work as if they are representing both parties. Unless you are a Seller who knows all of your states mandatory disclsoures and how to fill them out, and all of the other requirements your state may have an agent who brings you a Buyer knows they are going to "more than likely" end up doing double the work for less pay. Greg, please keep this in mind as well: A majority of everyone who sold their home in your area paid an agent a 5 or 6% commission to do so. If you are only offering 2% commission, be sure to reduce your asking price by 3 to 4% vs. what other homes in the area sold for since you won't be paying for advertising, marketing or representation like the other seller's did. - Fri Jul 25 2008, 14:46

Debbie, this is an excellent question and the rules may vary depending upon which state you purchase the property in. California law allows an agent to represent both the Seller and the Buyer (dual agency) as long as both parties agree to allow the agent to represent both parties. The benefits can change depending upon many factors and PRICE isn't the only one. First of all, in CA, if I am representing the Seller and you want to write an offer with me, I cannot tell you what price the Seller will accept. If I am representing you and you give me a price you are willing to go up to, as the Buyer, even though the written offer may be less, I am not able to disclose that information to the seller either (this is dual agency). Now let's say the listing agent says" write your offer with me and I will discount my commission." First of all, how do you know that them discounting their commission would give you the best deal? You don't and there is no way for you to find this out. If you think about it logically, is it possible for someone to negotiate on your behalf and get you the best deal possible if they are representing the other party you are negotiating with? More than likely, it isn't. It also gets more complicated when it comes to some disclosure items and inspections. If the seller is unwilling to make some repairs and it is the buyer's best interest to have the repairs made to the property, how does an agent representing "both" parties resolve the issue? This is where things get tricky. My suggestion would be to not think of an agents commission and focus more on having your best interest represented to its fullest. If I were a buyer, I would NOT write an offer through the listing agent. - Fri Jul 25 2008, 14:36

Macy, Yorba Linda has grown significantly over the past few years. For the most part, the quality of life is exceptional.... I have friends who live in Eastlake which gives them access to a lake and swimming pools. They have good neighbors and have many get-togethers with them. They have 3 young children and feel it is a safe and healthy place to raise their children. They have recently outgrown their 3200 sq. ft. home and are moving to a 5800 sq.ft. home about a mile or so away, so I know they still love the area.
I have an uncle who also resides on the border of Yorba Linda and Brea. He used to live in Long Beach off of Studebaker and Anaheim, but after relocating to Utah, and then resettling back in Southern California, he decided to move to Yorba Linda. He and his family loved Long Beach. They liked the area, their neighbors, being close to the beach (their home backed to the flood channel), but from talking with him recently, he feels just at home in Yorba Linda as he did in Long Beach. Hope this info helps. - Tue Jul 22 2008, 00:24

Chrisine, my opinion is that there is a misconception that by paying "all cash" you will get a better deal on the property. Even with lenders tightening guidelines and less qualified buyers in the market, I haven't found there to be a difference in the price agreed to be the Seller. The Seller's main concern is "do I have a qualified, bonified Buyer?" If the Seller has a good agent, they will have all of the buyers financials, a preapproval letter, and in many cases today, will actually speak to the lender prior to accepting the offer. With the information we are able to obtain, all cash vs. financing doesn't make too much of a difference. Even though the market has slowed, if a property is priced properly, it will still sell in today's market. You will only find a big savings if you happen to find a property where the Seller needs to close fast (less than 15 days or so) or has some other type of personal or financial hardship.
Whether you are paying all cash or financing your purchase, most seller's understand they will need to make some concessions on their sale. These concessions will more than likely come in the way of crediting you money for closing costs, repairs or maybe some small updating (paint, carpet, etc.). - Tue Jul 22 2008, 00:15