Can I submit a far/bar form to make an offer to purchase a home in Florida if I'm not a licensed real estate agent?

Asked by Tikki5777, 33706 Tue Aug 3, 2010

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13
Bill Eckler, Agent, Venice, FL
Wed Aug 4, 2010
Tikki,

If the seller is responsible for satisfying the fee for professional services at closing, why wouldn't a buyer be interested in using an agent's services.......your interests would be protected and it would be done at the seller's expense.

As mentioned earlier, you can write up an agreement in any fashion you would like but doing so would likely be done at great risk. Our advice, work with a professional.

Good luck

Bill
3 votes
At the SELLERS expense? Why do real estate agents make this preposterous claim?

While the commission does come out of the seller's side of the proceeds, the seller will see 6% less proceeds if using a realtor. Where are they getting that money? THE SALES PRICE!

And who is PAYING for the house? The buyer, of course.

In practice, let's use a $100,000 house to make the numbers simple. Real estate commissions will be $6000 at the standard 6%. So, net to seller will be $94,000 (before closing costs).

Wouldn't it stand to reason, if there weren't $6,000 in realtor fees, the buyer could accept $94,000 as a sales price? Hell, they could accept $95,000, and pocket another $1000 while still saving the buyer $5000.

The buyer is the one PAYING, so he's going to pay it, despite what side of the closing docs it ends up on.
Flag Wed Feb 8, 2017
Sdgfsu, Home Buyer, Saint Petersburg, FL
Wed Oct 14, 2015
OMG!!!! You are all vultures.
1 vote
Gerard Carney, Agent, Spring Hill, FL
Fri Aug 6, 2010
Asked a Realtor to write the offer on the FAR/Bar for you, it wont raise the price of the house provided the house was an MLS lsiting!
1 vote
Joanna Morris, Agent, Floral City, FL
Tue Aug 3, 2010
No you cannot. Those forms are for Realtors use only. Sorry! I am sure you can find a Realtor to assist you.
1 vote
Contracts are not copyrightable.
Flag Wed Feb 8, 2017
Lorraine Ben…, Agent, St Pete Beach, FL
Mon Sep 30, 2013
Caveat emptor. It means "Let the buyer beware" and in real estate it is a property law principle that controls the sale. If you don't have a licensed real estate agent representing you, then please hire an attorney.
0 votes
Tikki5777, Home Buyer, 33706
Sun Aug 8, 2010
Thanks for all your answers! Originally, I called on the house which had a sign out front and the office of the seller told me I needed to submit a Far/Bar to make an offer. I've since called a realtor and she helped me put in the offer.
0 votes
Loretta Buck…, Agent, Palm Harbor, FL
Wed Aug 4, 2010
First, is the home listed with a Realtor? If so, the transaction must go through them, and since they are paid to provide the services of real estate including contracts, well, why not let them?

If it is not a listed property and you wish to present an offer directly to the homeowner, how are you going to have the transaction closed?

Last question: why would you want to attempt all of this on your own? If the answer is "to save the commission" - thank again! A Realtor invloved will actually SAVE you 5-10%, whether you are the buyer or the seller!
0 votes
BOTH the buyer and seller save? That's quite possibly the most idiotic statement I've ever heard on the subject. How in the world could that possibly work?

Sales price is X. Real Estate Agents take Y%. The commission, ANY amount of commission, will reduce the funds to the seller, or adds to the price of the home. Explain to me how a third party can take money out of a transaction between two people, and those two people are better off.

Maybe in your scenario a philanthropic agent pays both the buyer and seller? LOL!
Flag Wed Feb 8, 2017
Debra B Albe…, Agent, Port St Lucie, FL
Wed Aug 4, 2010
Tikki5777,
You need a local realtor if you want a successful transaction. Who is doing the negotiation? Do you know exactly what the contract calls for (and does not call for) and are you clear on the dates involved and deadlines. Passing any deadlines can nullify the contract. It is best for these reasons among others to work with a professional who deals with these contracts every day.

Debbie Albert, PA
Coldwell Banker Residential
Web Reference:  http://www.ronanddebbie.net
0 votes
Genevieve Ra…, Agent, Punta Gorda, FL
Wed Aug 4, 2010
Tikki5777,
I think it would be in your best interests to work with a Realtor. They would be available to answer all your questions and make your whole buying process a lot simpler. Find a Realtor.
Genevieve Ramachandran
Thomas Ryan Associates
941-268-1511
http://www.thomasryan.com
0 votes
Dianne Scott, Agent, Eustis, FL
Tue Aug 3, 2010
Tikki5777,

I am not aware of any requirement that you have to be licensed to use the form. Keep in mind that these forms are not comprehensive in and of themselves. As with anything legal, what is left out of the Contract can be just as important as what is included . Agents will make sure that the proper disclosures, among other things, are given to protect everyone. You don't state if you are the Seller or the Buyer, but there can certainly be pitfalls for either if something important is omitted.

Dianne Scott
Web Reference:  http://www.DianneScott.com
0 votes
Myke Atwater, Agent, Santa Rosa Beach, FL
Tue Aug 3, 2010
Dear Tikki5777,
If you want to make an offer on a home in Florida, you can write it on anything you want in any way you want. As a realtor, I cannot use anything other than the contract form provided to me by the Florida Association of Realtors, or I am practicing law without a license. But, if you buy a home where you and the seller have agreed to the terms in writing, that is entirely up to you.

I would ask, why would you do this. By using the FAR or the FAR/BAR contract, there are many built in protections for you the buyer and the seller. Why you wouldn't want these protections is beyond me. Furthermore, as the buyer, you don't pay anyone--the service of a realtor is FREE!! The seller pays the realtor the commission--part of the LISTING agreement. I can't imagine why you would do anything else. The realtor has access to the best information and personnel to help you through your transaction, from loan officers that have done good work for them to title companies who are going to manage your transaction through to the closing.

Not using a realtor to buy a home just doesn't make good sense financially or legally!!

Rethink your strategy,

Myke Triebold, GRI, LMC
Certified Military Specialist
MykeSaysSold@aol.com
http://www.DestinHomeRealtor.com
Web Reference:  http://www.MykeTriebold.com
0 votes
Sheri Ray, , South Pasadena, FL
Tue Aug 3, 2010
I would be happy to assist you in any way that I can since I "AM" a licensed agent here in Florida.
The seller is the one paying the commission so I am wondering why you would want to write something
up yourself without representation.

Are you an attorney perhaps? If I can be of any help to you please feel free to contact me via e-mail
sheriray@remax.net or by my cell phone 727-647-4895

Thank you for your inquiry,

Sheri Ray
RE/MAX Metro
Web Reference:  http://www.sheriray.com
0 votes
Marge Bennett, Agent, Fort Myers, FL
Tue Aug 3, 2010
How would you even get access to a FARBAR contract? Those belong to Realtors. Find one to help you
0 votes
FARBAR are a simple google search away. The reason I use them is because my business requires multiple offers to be sent each day and agents can't keep up. Choose a Title Company that will work with you. Use the Contracts and have everything go through the title company.
Flag Mon Jun 27, 2016
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