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Who wrote the offer ? Who Pre-qualified the Buyer ? Who walked him through the Inspection ?
Most importantly... Why did you not try to sell it yourself first ?
The offer could just as easily have been written up/presented by the potential buyers with any offer-to-purchase form online adding "due diligence" and acceptable financing clauses. THE BUYER was the one who made the decision on what he wanted to offer. The buyer had already pre-qualified himself with banks, (as we did) for a purchase.
"Walked him through the inspection?" No one needs to *walk* you thru an inspection. A buyer schedules a certified inspector and the inspection report results are delivered to WHOMEVER pays him his fee. The buyer then can re-negotiate the findings from the inspection.
As mentioned, we attempted to sell by owner first; the buyer picked up the flyer (did you not read this?)
and took it to his "buyer agent"... which is why we're having to pay HIM $7k.
All the selling agent is .. is a "deliverer" of facts; mostly from other people doing the work.
As mentioned, we attempted to sell by owner first; the buyer picked up the flyer (did you not read this?) and took it to his "buyer agent"... which is why we're having to pay HIM $7k.
Why did you agree to pay the agent ? You could have refused and let the Buyer pay the agent if they needed his help.
If it is because you had it in the MLS then you did not try and sell it yourself.
Good points to consider. Especially since neither the buyer or his agent discovered the listing in the MLS.
If it's in the MLS, your listing company will be obligated to pay the Buyers agent. I suspect you have a signed contract with the discount Broker to pay the fee.
Good points to consider. Especially since neither the buyer or his agent discovered the listing in the MLS.
The buyers could have worked with you directly but chose not to. The problem self-sufficient people have is understanding that not everyone wants to go it alone. While it cost you more money, the fact is that the buyers wanted representation and you agreed to pay it via the MLS.
It could be that the buyers agent has spent 6 months working with these buyers. You are paying the buyer agent for all the time they spent with that buyer even when it had nothing to do with your property.
Some days I think getting a buyer is the easy part! Getting a home from contract to closing...that is the difficult part!
What happens once the buyer does his inspections and discovers mold in the crawl space? WHO is going to be there to help him determine if the mold is toxic or even if he wants to continue with this purchase?
What happens if the appraiser has a problem getting the home to appraise? WHO is going to supply the appraiser with comps? WHO is the appraiser going to call? NOT the seller.
There are so many things that occur from contract to closing that can stop the sale from closing and yet, a seller that thinks they can do it all themselves, very seldom get a home like this to close!
Some days I think getting a buyer is the easy part! Getting a home from contract to closing...that is the difficult part!
What happens once the buyer does his inspections and discovers mold in the crawl space? WHO is going to be there to help him determine if the mold is toxic or even if he wants to continue with this purchase?
What happens if the appraiser has a problem getting the home to appraise? WHO is going to supply the appraiser with comps? WHO is the appraiser going to call? NOT the seller.
There are so many things that occur from contract to closing that can stop the sale from closing and yet, a seller that thinks they can do it all themselves, very seldom get a home like this to close!
Mold example.. I imagine you're simplifying the scenario for discussions sake, as I would hope any agent would leave the extent of their involvement at telling the buyer to contact a company to conduct the mold tests themselves. I would most definitely not be putting my two cents in concerning whether mold was toxic or not, or whether even a foreign substance was mold or dirt.
Mold example.. I imagine you're simplifying the scenario for discussions sake, as I would hope any agent would leave the extent of their involvement at telling the buyer to contact a company to conduct the mold tests themselves. I would most definitely not be putting my two cents in concerning whether mold was toxic or not, or whether even a foreign substance was mold or dirt.
Appraiser I agree.
I was trying to keep it simple (KISS)!!!
Imagine this...inspector tells buyer there is a "fungus" in the crawl space. Buyer freaks out...thinking "MOLD!". Realtor EXPLAINS that it is somewhat common in the south but has dealt with this before and knows WHO to call and can ADVISE and EDUCATE buyer.
Same thing with termites...very usual for this area. Easy to treat. Buyer may not know this. Without Realtor to EXPLAIN And EDUCATE, things can go downhill very quickly.
We DID the math.. and we're stuck paying the 3% buyer's agent commission for doing nothing but showing the property.
You agreed to pay the buyer's agent...so why are you complaining? Sometimes when I buy or sell a property I agree to pay for costs that I'd rather not pay, but once I make a decision I don't feel the need to complain about it. Seems rather pointless. Decide what you want to do in these situations and move on.
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