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Few more questions re: Home Buying

Few more questions re: Home Buying

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Old Dec 7th 2014, 7:44 pm
  #16  
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Default Re: Few more questions re: Home Buying

Originally Posted by Guindalf
Sure, but ANY future sale to the OP will be affected by this...

...which means the realtor has a claim on the commission from the sale. Attempts to circumvent this will almost certainly end up in court.
Quite possibly, but who has to pay what to whom in a real estate transaction depends on the precise circumstances including, but not limited to, state law, local custom and practice, who the various real estate professionals (not necessarily "Realtors) are representing and what legal agreements exist between the various parties.

So, yes, it is complicated and, yes, the OP needs to understand all of these issues, but it isn't as simple or cut and dried as you seem to be suggesting.

Finally, the OP should remember that everything is negotiable. In most real estate deals both the seller's agent and the buyer's agent are highly motivated to make the sale happen because that is the only way that they are going to get any money out of it at all. If takes reducing their commission (or, more likely, agreeing to pay some costs out of their commission) to make the sale go through then that can certainly happen.
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Old Dec 8th 2014, 3:40 am
  #17  
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Default Re: Few more questions re: Home Buying

When we last used a realtor to find a house for us we had to sign something up front. If he showed us something - we had to go through him contractually. Did you sign anything with the realtor?

i would also add - ive brought a house via a realtor in Ohio, sold same house via a different realtor and now used a third to buy a house in texas. I cant imagine doing it myself. At each occasion - the rules were totally strange, complicated and almost bizarre (if you main house buying/selling experience is the UK housing market). I would NEVER attempt to do it without a realtor. The 'norms' here are just so different to the UK it would be baffling and so easy to cock it up.

Last edited by MsElui; Dec 8th 2014 at 3:43 am.
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Old Dec 8th 2014, 2:48 pm
  #18  
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Default Re: Few more questions re: Home Buying

Originally Posted by MsElui
When we last used a realtor to find a house for us we had to sign something up front. If he showed us something - we had to go through him contractually. Did you sign anything with the realtor?

i would also add - ive brought a house via a realtor in Ohio, sold same house via a different realtor and now used a third to buy a house in texas. I cant imagine doing it myself. At each occasion - the rules were totally strange, complicated and almost bizarre (if you main house buying/selling experience is the UK housing market). I would NEVER attempt to do it without a realtor. The 'norms' here are just so different to the UK it would be baffling and so easy to cock it up.
Yes. Agreed. Just use a realtor and a property Attorney. That's what we did. The costs associated are just part and parcel with buying a house.

Can't afford the costs? Don't buy a house.
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Old Dec 8th 2014, 6:07 pm
  #19  
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Default Re: Few more questions re: Home Buying

Generally, it's the seller that pays the realtor Any introduction, even if the listing is expired, counts toward the realtor's claim of commission.

Otherwise every unscrupulous seller would be telling a potential buyer to wait for the delisting and save all or part of the realtor's fees! Easy if they offer a $15k discount and still save $12k (in this example, assuming commission at 6%)!
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