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We had found a house on Redfin that just showed up as a new listing and contacted our buyer agent to see the house. We viewed the house, made an offer, and the house was immediately removed from the market after the owner realized he was going to pay over $20k in commissions.
I found the owner's phone number and gave hime a call and he indicated that our offer was great and he wanted to accept it but then realized at the last minute that he couldn't afford to get into the house he wanted with the money he'd have left after having paid the agent commissions so cancelled the sales contract with his agent and removed it from the market.
Is there an opportunity for us to purchase this house as an FSBO with this seller or should we just move on? If we were to purchase, what's the typical waiting period once a house is removed from the market? Any opportunity to go back through my buyer agent and ask for a reduced commission rate? TIA
How did you learn of the house is the key question. If you were working with a broker and he brought the house to your attention, then he has done his job and deserves some type of compensation. If you found it on your own, then contacted his realtor, that's between those two and the seller will have to figure out his obligation, contractually or morally, with the agent. This also assumes you had not entered into some type of agreement to be represented by someone.