Darrell wrote in message ...
Joseph E. Meehan ?That makes him or her the seller's agent, not yours.
If this is the case, find a professional who will help you for a flat
fee? ?It amazes me that people think the buyer's relater is on their
side when they are paid to get the buyer to pay more.?
The problem is that people buy into Meehan?s nonsense so easily. It?s
absurd to choose your REALTOR or real estate agent based on how much
they make. The problem isn?t with how much the agent makes but rather
getting past the sales presentation and discovering your agent?s
character. How do you do this? Simple present the agent with questions
or real life scenario?s and see what his/her answer is. Compare his
answer to others. The size of his company the name recognition is
irrelevant. It really comes down to a person with a real estate license
or equivalent of (attorney) that has a genuine respect for his/her
fiduciary duty AND has the experience, knowledge and fortitude to
fulfill that obligation. MONEY has nothing to do with it, unless of
course you allow yourself to be duped. In the later whatever results
you get are your own fault. Choosing a contractor should be handled
with the same care!!
Now this is really special. Someone is supposed to determine a real
estate agents character by asking a few questions with real life
scenarios. Are you serious? If it were that simple, there would be
no con artists or flim flam salesman around. The good scammers are
quite adept at convincing people they are reputable and even a not so
good one can probably handle a few questions in a typical interview.
And the point Meehan made is totally valid. The sales agent
representing the seller has a conflict of interest in that he
contractually represents the seller to get the place sold and his
commission is based on the sales price. The higher the sales price,
the more dollars earned.
I don't think everyone necessarily needs an independent party to help
them. If you have some time and smarts, you can sit down and look at
similar recent sales to determine for yourself what the house is
worth. And hopefully people are smart enough to know to do things
like get a home inspection clause in their contract. Or how about
your nice idea of checking for any outstanding zoning violations? Do
you think the seller's agent is going to suggest that to the buyer?
As a buyer, if you think the seller's agent is working to protect your
interests, you are making a big mistake.
1. SQLit made an excellent recommendation, get a C.L.U.E report
regarding homeowners insurance. You can do an Internet search or go to
my website below and find a link on the right panel.
2. Check with planning and zoning and ensure that there are no
outstanding violations or incomplete building permits. As mentioned,
ensure that the home is not on the historical register. Make sure there
are no ordinances that would increase the cost of the roof.
3. Most owners are too busy living in the home and don?t know that these
problems exist. It really depends on how much equity is in the property
and/or if the seller can afford the reduction/repairs regardless of
equity.
4. You can?t predict the future nor can the agent or appraiser. The
cost of the repairs is hard to pin down, even you have written bids.
You have to get a contractor with experience most of all with each
issue. This should be your job if your really love the house. You
don?t want to leave it up to someone who is leaving.
Finally buying a home that is 90 years old is a gamble and you must be
able to cover the bet once you place it. If you enjoy repairs and are
looking forward to being a weekend warrior then buy it less the repair
bids times 1.5. Underwriters with Mortgage Companies always require
allowed escrow repairs to include a slush you should to either in price
or cash.
GOOD LUCK!
There comes a time in the affairs of man when he must take the bull by
the tail and face the situation. -- WCF
http://www.utahhousevalues.com