Buying a house in the US
#46
Account Closed
Joined: Nov 2003
Posts: 8,266
Re: Buying a house in the US
tax my car would be enough to make me sell up
#47
Re: Buying a house in the US
Originally Posted by izibear
Its city law in most places. They are probably required by law to ensure that all vehicles' tags/registrations are up to date. If your tag has expired, the city is allowed to tow it and charge YOU for the towing etc...and if you don't pony up, to sell your vehicle to defray 'expenses'.
Whew! Even the thought of other people having to live with an HOA makes my blood boil
#48
Re: Buying a house in the US
Originally Posted by John Murray
Has anyone successfully negotiated this 1% with their realtor? Seems like a good idea, and could cover the brokers fee!
#49
Re: Buying a house in the US
Originally Posted by John Murray
Has anyone successfully negotiated this 1% with their realtor? Seems like a good idea, and could cover the brokers fee!
Here's a Texas one for ya on a random Google: http://www.texasdiscountrealty.com/buyers1.htm
#50
Re: Buying a house in the US
If anyone has any questions send me a PM as I am a Realtor. Like everything in a house purchase in the US the commision is negotiable.
Patrick, Realtor, Broker, ABR
Patrick, Realtor, Broker, ABR
#51
Re: Buying a house in the US
Originally Posted by Patrick
If anyone has any questions send me a PM as I am a Realtor. Like everything in a house purchase in the US the commision is negotiable.
Patrick, Realtor, Broker, ABR
Patrick, Realtor, Broker, ABR
Patrick - Our broker gave us a book called "not one dollar more" which I am reading at the moment. Do you have any articles which give advice on how to get the best price?
My broker was advising us to try to remain objective, find at least 3 homes we like and then bid low on all 3?
Our Realtor (who is soon going to get his commission cut by 1% :-)) will be able to get us CMA reports and has showed us his detailed listing info which includes DOM - Days on Market, another little snippet of info which could be a great tool in negotiation.
#52
Re: Buying a house in the US
Originally Posted by John Murray
Thanks Fattbrit!!!!!
Patrick - Our broker gave us a book called "not one dollar more" which I am reading at the moment. Do you have any articles which give advice on how to get the best price?
My broker was advising us to try to remain objective, find at least 3 homes we like and then bid low on all 3?
Our Realtor (who is soon going to get his commission cut by 1% :-)) will be able to get us CMA reports and has showed us his detailed listing info which includes DOM - Days on Market, another little snippet of info which could be a great tool in negotiation.
Patrick - Our broker gave us a book called "not one dollar more" which I am reading at the moment. Do you have any articles which give advice on how to get the best price?
My broker was advising us to try to remain objective, find at least 3 homes we like and then bid low on all 3?
Our Realtor (who is soon going to get his commission cut by 1% :-)) will be able to get us CMA reports and has showed us his detailed listing info which includes DOM - Days on Market, another little snippet of info which could be a great tool in negotiation.
#53
Re: Buying a house in the US
Originally Posted by John Murray
Our Realtor (who is soon going to get his commission cut by 1% :-)) will be able to get us CMA reports ...
Cheers,
Pat
#54
Re: Buying a house in the US
Originally Posted by John Murray
Thanks Fattbrit!!!!!
Patrick - Our broker gave us a book called "not one dollar more" which I am reading at the moment. Do you have any articles which give advice on how to get the best price?
My broker was advising us to try to remain objective, find at least 3 homes we like and then bid low on all 3?
Our Realtor (who is soon going to get his commission cut by 1% :-)) will be able to get us CMA reports and has showed us his detailed listing info which includes DOM - Days on Market, another little snippet of info which could be a great tool in negotiation.
Patrick - Our broker gave us a book called "not one dollar more" which I am reading at the moment. Do you have any articles which give advice on how to get the best price?
My broker was advising us to try to remain objective, find at least 3 homes we like and then bid low on all 3?
Our Realtor (who is soon going to get his commission cut by 1% :-)) will be able to get us CMA reports and has showed us his detailed listing info which includes DOM - Days on Market, another little snippet of info which could be a great tool in negotiation.
consider everything before you make an offer, do you want any of their appliances (which aren't automatically included).
Make sure everything you want to or want to happen is included in the offer to purchase, don't think because you talked about it it will happen.
Make sure the seller will repair everything that is picked up on the Inspection or that the contract can be renegotiated to take the repairs into consideration.
Make sure you are not in a dual agency situation without designated representation, an Realtor in dual agency cannot give you cma's or tax info (because they cannot give you anything that will hurt the seller or give you anything that will give you the advantage over the seller).
#55
Re: Buying a house in the US
Originally Posted by superpat
'Cover My Ass' reports???
Cheers,
Pat
Cheers,
Pat
#56
Re: Buying a house in the US
Originally Posted by superpat
'Cover My Ass' reports???
Cheers,
Pat
Cheers,
Pat
#57
Account Closed
Joined: Mar 2004
Posts: 2
Re: Buying a house in the US
CMA's just tell you what similar but not identical houses sold for over recent time.
Now if you looking on a big estate and the market has not moved, then they might have a value, but not a lot.
Like anything a house is worth what someone will pay for it, if the seller is motivated and there are not many buyers then your position is much stronger.
Whenever I saw motivated I mentally replaced it with desperate and priced accordingly, why would you advertise this???. Mind you there was usually something wrong with the property.
For some reason the few houses we saw that we both liked seemed to go under offer within a few days, a good property will sell even in a bad market if the price is right.
I looked at the County tax valuations, available on line here, and compared them to selling prices, not asking prices, something you do have to get through a realtor. That gave me a better base line for a norm and then it is all a case of the actual situation.
Now if you looking on a big estate and the market has not moved, then they might have a value, but not a lot.
Like anything a house is worth what someone will pay for it, if the seller is motivated and there are not many buyers then your position is much stronger.
Whenever I saw motivated I mentally replaced it with desperate and priced accordingly, why would you advertise this???. Mind you there was usually something wrong with the property.
For some reason the few houses we saw that we both liked seemed to go under offer within a few days, a good property will sell even in a bad market if the price is right.
I looked at the County tax valuations, available on line here, and compared them to selling prices, not asking prices, something you do have to get through a realtor. That gave me a better base line for a norm and then it is all a case of the actual situation.
#58
Re: Buying a house in the US
Originally Posted by Patrick
He has to do a CMA (competative market Analysis) before you put an offer on because if you go too high the house will not appraise, and the house has to appraise. I would expect a bit more advice than, bid low! He should supply you with any relevant information on the property, DOM, Taxes, when and what the house last sold for and anything about the neighbourhood. Unless the market is really hot you have room for negotiation, my advise is
<<snip>>
<<snip>>
http://www.homegain.com/
You have to register to use it but I believe this was the site where I could identify homes in a street, zipcode, city etc. similar to what I was looking for to see the selling prices over a time period (that you can set).
It was helpful when identifying sale prices for similar homes on the street that we viewed houses on.
NC Penguin
#59
Joined: Feb 2002
Posts: 6,848
Re: Buying a house in the US
Originally Posted by imerkedve
as far as l can see, you dont have to pay any commision to the realtor. instead, the seller is the one that pays 6%
Over here in the Tri-State area (New York, New Jersey and Connecticut) the Foxtons realtors (yes the same Foxtons as in the UK) are charging 3% commission on house sales.
http://www.foxtons.com
The weird thing is, in our town most of the 'For Sale' boards on the lawns are almost exclusively those of just two of the realty firms here, despite other companies with offices here eg. Coldwell Banker, Century 21, Prudential, Re-Max etc.
I actually find some of the women who are realtors around here (New York metro area, we're in the NJ suburbs) to be quite scary and intimidating with all their power-suits and we're constantly bombarded with mail from them offering to 'market' our house if we want to sell it - is this typical in the US? I dread the day we have to engage one of them to sell our house LOL! I think it's a pretty cut-throat business with all the realtors here as houses now tend to start at $500k for a bog-standard 1940s 3 bedroomed house in need of modernising (like ours!) up to $5 million....imagine getting 6% commission on those prices!!!!.
#60
BE Enthusiast
Joined: Jan 2005
Location: the wrong place
Posts: 892
Re: Buying a house in the US
Originally Posted by Englishmum
Over here in the Tri-State area (New York, New Jersey and Connecticut) the Foxtons realtors (yes the same Foxtons as in the UK) are charging 3% commission on house sales.
http://www.foxtons.com
The weird thing is, in our town most of the 'For Sale' boards on the lawns are almost exclusively those of just two of the realty firms here, despite other companies with offices here eg. Coldwell Banker, Century 21, Prudential, Re-Max etc.
I actually find some of the women who are realtors around here (New York metro area, we're in the NJ suburbs) to be quite scary and intimidating with all their power-suits and we're constantly bombarded with mail from them offering to 'market' our house if we want to sell it - is this typical in the US? I dread the day we have to engage one of them to sell our house LOL! I think it's a pretty cut-throat business with all the realtors here as houses now tend to start at $500k for a bog-standard 1940s 3 bedroomed house in need of modernising (like ours!) up to $5 million....imagine getting 6% commission on those prices!!!!.
http://www.foxtons.com
The weird thing is, in our town most of the 'For Sale' boards on the lawns are almost exclusively those of just two of the realty firms here, despite other companies with offices here eg. Coldwell Banker, Century 21, Prudential, Re-Max etc.
I actually find some of the women who are realtors around here (New York metro area, we're in the NJ suburbs) to be quite scary and intimidating with all their power-suits and we're constantly bombarded with mail from them offering to 'market' our house if we want to sell it - is this typical in the US? I dread the day we have to engage one of them to sell our house LOL! I think it's a pretty cut-throat business with all the realtors here as houses now tend to start at $500k for a bog-standard 1940s 3 bedroomed house in need of modernising (like ours!) up to $5 million....imagine getting 6% commission on those prices!!!!.