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anitsirK posted:Why do so many people insist that a (buyer's) realtor is necessary? I'm looking for a lawyer and a home inspector, and several people have said "Ask your realtor" and when I say we're not working with one (other than the seller's realtor), they go into this giant rant. Because a Realtor would know a lawyer, home inspector and WDO inspector. They could also schedule everything for you and handle the paper work. Also, I'm pretty sure they're 'free' in that they split commission with the selling agent... so why wouldn't you have one?
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May 21, 2009 21:32
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| # ¿ Apr 29, 2024 04:03 |
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anitsirK posted:So, you find a realtor (somehow), and put 100% of your trust in them picking out your other real estate professionals. Then you let them act as a middleman between you and your other professionals, calling you to find out suitable times for appointments, instead of you having contact with the other professionals directly. Also, my experience when dealing with a realtor who was (apparently not) trying to sell one property we wanted to view is that a "buyer's agent" will constantly try to push properties on you that are completely the opposite of what you've expressed interest in. You find a Realtor through friends or sites like Realtor.com, preferably through friends so you can avoid terrible Realtors. Usually you'll get one with a few years of experience, so they have a list of people that do a good job at the various tasks that need to be done (Home Inspection, WDO Inspection, random repairs, etc). You just said you were asking several people about a lawyer and a home inspector. Why would you put '100% of your trust' in random people that someone who has been dealing with real estate lawyers and home inspectors weekly for years? If a Realtor is pushing houses on you that you don't want and you can't handle that, just go to another Realtor. quote:And by the way, anything that is part of the price you pay to purchase something isn't free. If the seller's not having to fork out part of the money you give them for one more person's commission, that (should) lower the price they're willing to accept. If a seller is using an agent (and most are) they're already paying commission, which won't change if you have your own agent. The only thing that changes is the agents themselves split the commission. This is likely why the Realtor you mentioned earlier was pushing you to houses that you were not interested in... if they sell you a house that they're also the selling agent then they get to keep both halves of the commission. Having a buyers agent means that your time commitment to buying a house consists of talking to your agent on the phone/e-mail to let them know when you can be free, going to look at houses, and signing the paperwork. They save you a ton of time, can answer all of questions about every step of the process and will have far more experience choosing the various people/companies that you need to complete the transaction. It makes no sense for a person to try to stumble through the process by themselves if they can have someone available with exponentially more experience for 'free'.
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May 22, 2009 13:47
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quote:- Can get roommates to help with mortgage payment Be careful with this line of thinking. Sure a roommate would be a nice bit of income to help pay on your mortgage/bills (assuming you can actually live with the person).. but chances are, you won't have a roommate for 30 years. So make sure YOU can afford all of your bills completely by yourself and treat a roommate as a bonus source of income.
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Jun 9, 2009 13:55
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quote:The average home price for a house with 2-3 bedrooms and 1.5-2.5 baths with a 2 car garage is around $80k. I'd say go for it, that is incredibly cheap based on your income. I make ~$50k a year and houses in my area are ~120-150k. Hell, you could buy 2 houses and rent the other one (probably not such a good idea, but you get the point).
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Jun 10, 2009 14:09
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Gravitee posted:I finally got a realtor from a friend's recommendation (who's in India right now - go figure) and we are going to see houses tonight and tomorrow. What are things to look for when you go through a house - roof, foundation, water damage etc? I know the home inspection will catch a lot of things later but I don't want to miss anything that's glaringly obvious that will save us from hassle down the road. Look for a place you'd like to live in more than anything else. Anything glaringly obvious will be found by the home inspector (your realtor probably knows a good one if they've been doing this long) and anything not glaringly obvious will likely go unnoticed by you/require specialized tools to find. Also, your realtor will be able to point out any problems that are major enough to warrant you passing on the house (so as to not waste your money on an inspector that will tell you the roof has a giant hole in it).
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Jun 10, 2009 18:45
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| # ¿ Apr 29, 2024 04:03 |
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^ That's odd, it may just be your lender. I was approved in about 5 minutes on an FHA loan.
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Jun 12, 2009 21:56
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