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Is my house at danger?
no_name writes:
wrote: Home inspectors really work for the realty agent and not for you the buyer. Unless you hire your own. This is key to understand in real estate. The seller's agent does not work for you. They are paid when the sale closes. "Your" buyer's agent does not work for you. They supposedly represent you, and are bound by a code of ethics which some take more seriously than others, but don't kid yourself--they are paid by the seller.... when the sale closes. By definition, they don't work for you. There are but two people who can possibly work for you in a transaction: your attorney (whom you find yourself and pay flat rate) your inspector (whom you find yourself and pay flat rate) If either of these were referred by a Realtor--be a little suspicious. Because if their counsel killed too many questionable/shady deals, you can be certain that they wouldn't be first on an unscrupulous Realtor's referral list. There are exceptions of course, but you tend to only find out you've got a lemon after it's too late. -- Todd H. http://www.toddh.net/ |
Is my house at danger?
On 01 Nov 2005 19:43:51 -0600, in misc.consumers.house (Todd H.)
wrote: your inspector (whom you find yourself and pay flat rate) We paid our inspector ourselves but the real estate agent recommended him.. yeah a mistake I know. |
Is my house at danger?
writes:
That depends ENTIRELY on the contract you agree to with them. And they are paid 'from the sale', not ' by the seller'. No sale, no comish. SO yeh, they have an interest in closing the deal, which is at odds with yours. Whose side of the closing sheet does that commission come off of? In both states I've done real estate transaction in at least, it's been off the seller's side of the closing sheet. So while the seller isn't cutting them a check and handing it to them, they are paying that buyer's broker commission. But, I agree it's a minor point on top of the "from the sale" origin of the funding. The point remains simply that buyer's agency is really quite a misnomer, and you shouldn't trust your buyer's agent any farther than you can throw them. The quicker they get you to sign and close, the more $ they make for their time. Aside from the likelihood of repeat business and referrals from you, there isn't any incentive for them to steer you away from any listed property. -- Todd H. http://www.toddh.net/ |
Is my house at danger?
"Todd H." wrote:
But, I agree it's a minor point on top of the "from the sale" origin of the funding. The point remains simply that buyer's agency is really quite a misnomer, and you shouldn't trust your buyer's agent any farther than you can throw them. The quicker they get you to sign and close, the more $ they make for their time. Aside from the likelihood of repeat business and referrals from you, there isn't any incentive for them to steer you away from any listed property. That's why there really are no true buyer's agents. But all it takes is one to start a revolution. I think a "buyer's agent" who was paid some percentage of the difference between seller's asking price and the actual sale price, would be in great demand. The more he or she saved homebuyers, the more he or she would earn. |
Is my house at danger?
On 01 Nov 2005 22:20:30 -0600, (Todd H.) wrote:
writes: That depends ENTIRELY on the contract you agree to with them. And they are paid 'from the sale', not ' by the seller'. No sale, no comish. SO yeh, they have an interest in closing the deal, which is at odds with yours. Whose side of the closing sheet does that commission come off of? In Whose money is needed for there to be a deal ? The agent doesn't get paid in '3 % of a building' ( the sellers side of the value transfer ) both states I've done real estate transaction in at least, it's been off the seller's side of the closing sheet. So while the seller isn't cutting them a check and handing it to them, they are paying that buyer's broker commission. But, I agree it's a minor point on top of the "from the sale" origin of the funding. The point remains simply that buyer's agency is really quite a misnomer, and you shouldn't trust your buyer's agent any farther than you can throw them. The quicker they get you to sign and close, the more $ they make for their time. Aside from the Yep. Slice and dice it any way, but that's the bottom line - it's in their interest for that house to be sold, not to protect you from a mistake. likelihood of repeat business and referrals from you, there isn't any incentive for them to steer you away from any listed property. Click here every day to feed an animal that needs you today !!! http://www.theanimalrescuesite.com/ Paul ( pjm @ pobox . com ) - remove spaces to email me 'Some days, it's just not worth chewing through the restraints.' 'With sufficient thrust, pigs fly just fine.' HVAC/R program for Palm PDA's Free demo now available online http://pmilligan.net/palm/ |
Is my house at danger?
Well, I am sure that there is a large percentage of agents that work
that way but I can tell you this much, they don't last long in the business. Caveat Emptor is really the key to any transaction. You should oblige yourself to take a keen interest in what you are buying and to learn more about the process. That should also include who you decide to work with. If you aren't discriminating about your agent then chances are, you will get a bad one. Agents that just use up people don't build a client base and won't get repeat business. wrote: On 01 Nov 2005 22:20:30 -0600, (Todd H.) wrote: writes: That depends ENTIRELY on the contract you agree to with them. And they are paid 'from the sale', not ' by the seller'. No sale, no comish. SO yeh, they have an interest in closing the deal, which is at odds with yours. Whose side of the closing sheet does that commission come off of? In Whose money is needed for there to be a deal ? The agent doesn't get paid in '3 % of a building' ( the sellers side of the value transfer ) both states I've done real estate transaction in at least, it's been off the seller's side of the closing sheet. So while the seller isn't cutting them a check and handing it to them, they are paying that buyer's broker commission. But, I agree it's a minor point on top of the "from the sale" origin of the funding. The point remains simply that buyer's agency is really quite a misnomer, and you shouldn't trust your buyer's agent any farther than you can throw them. The quicker they get you to sign and close, the more $ they make for their time. Aside from the Yep. Slice and dice it any way, but that's the bottom line - it's in their interest for that house to be sold, not to protect you from a mistake. likelihood of repeat business and referrals from you, there isn't any incentive for them to steer you away from any listed property. Click here every day to feed an animal that needs you today !!! http://www.theanimalrescuesite.com/ Paul ( pjm @ pobox . com ) - remove spaces to email me 'Some days, it's just not worth chewing through the restraints.' 'With sufficient thrust, pigs fly just fine.' HVAC/R program for Palm PDA's Free demo now available online http://pmilligan.net/palm/ |
Is my house at danger?
On Tue, 01 Nov 2005 23:41:14 -0500, in misc.consumers.house Dweezil Dwarftosser
wrote: "Todd H." wrote: But, I agree it's a minor point on top of the "from the sale" origin of the funding. The point remains simply that buyer's agency is really quite a misnomer, and you shouldn't trust your buyer's agent any farther than you can throw them. The quicker they get you to sign and close, the more $ they make for their time. Aside from the likelihood of repeat business and referrals from you, there isn't any incentive for them to steer you away from any listed property. That's why there really are no true buyer's agents. But all it takes is one to start a revolution. I think a "buyer's agent" who was paid some percentage of the difference between seller's asking price and the actual sale price, would be in great demand. The more he or she saved homebuyers, the more he or she would earn. that would appear to be better then the current situation that only serves to drive property prices up. |
Is my house at danger?
On Tue, 01 Nov 2005 15:50:37 -0500, someone wrote:
You can always call the Real Estate commission for advice..... I seriously doubt the "Real Estate commission" is going to give him legal advice. (And isn't the "real estate commission" what the Broker gets paid, anyway?) Reply to NG only - this e.mail address goes to a kill file. |
Is my house at danger?
On Tue, 01 Nov 2005 23:41:14 -0500, someone wrote:
I think a "buyer's agent" who was paid some percentage of the difference between seller's asking price and the actual sale price, would be in great demand. Yeah, from DUMB BUYERS. What if the house was a great deal as listed? This Buyer's agent would not want you to buy that house. He/she would want you to bid on a house with an inflated price so that they can show you they got a lot off. A BIG MISTAKE in buying real estate is to evaluate your deal by how much you will be getting "off". This only rewards those who inflate the asking price. Which is a better deal, getting 10% of on a house priced at $250k, getting 7% off a house priced at $240k, or NOTHING off a house priced at $220k - if it was all the very same house? There is no objective price umpire setting asking prices. If you evaluate your deal based on asking price, then THAT is indeed foolish. Reply to NG only - this e.mail address goes to a kill file. |
Is my house at danger?
v wrote:
On Tue, 01 Nov 2005 23:41:14 -0500, someone wrote: I think a "buyer's agent" who was paid some percentage of the difference between seller's asking price and the actual sale price, would be in great demand. Yeah, from DUMB BUYERS. What if the house was a great deal as listed? This Buyer's agent would not want you to buy that house. He/she would want you to bid on a house with an inflated price so that they can show you they got a lot off. A BIG MISTAKE in buying real estate is to evaluate your deal by how much you will be getting "off". This only rewards those who inflate the asking price. But an even bigger mistake would be to assume that home prices aren't outrageously inflated in the first place. Sorry, but the real estate scammers (i.e. - realty agents) are a dying breed, thank God. The internet will do them in, much like it has the legacy "major media". Reply to NG only - this e.mail address goes to a kill file. Reply not at all; I don't want to read your screams of anguish. |
Is my house at danger?
On 26 Oct 2005 15:32:33 -0700, "Kim" wrote:
How about the construction engineer DOES find that my house has foundation problems? Then, I have to disclose it to the new buyer when I sell it (maybe several years down the way). Is there anyway that I can figure out if my previous owner knew that problem? Do it for yourself. It wont matter about having to disclose it to a future buyer because they are going to hire an engineer and he will tell them what is up. At least for now, you will know for yourself and have a chance to do something about it before something worse happens. Isnt the engineering firm responsible at all for not seeing this? Could all of this have happened in the past few months? Tony |
Is my house at danger?
v wrote:
On Tue, 01 Nov 2005 15:50:37 -0500, someone wrote: You can always call the Real Estate commission for advice..... I seriously doubt the "Real Estate commission" is going to give him legal advice. (And isn't the "real estate commission" what the Broker gets paid, anyway?) Naw - the "real estate commision" (legislature, attorney general, etc. - even the BBB ) are the ones the Broker pays off to look the other way... |
Is my house at danger?
v wrote:
On Tue, 01 Nov 2005 15:50:37 -0500, someone wrote: You can always call the Real Estate commission for advice..... I seriously doubt the "Real Estate commission" is going to give him legal advice. (And isn't the "real estate commission" what the Broker gets paid, anyway?) http://www.ncrec.state.nc.us/ From their web site: The Commission is responsible for policy-making with regard to licensing and regulatory matters governing North Carolina real estate agents. Also conducts hearings and takes disciplinary action against licensees for violations of the Real Estate License Law and Commission rules. Legal Services Staff Director of Legal Services (Special Deputy Attorney General), Assistant Director of Legal Services, Chief Deputy Legal Counsel, Deputy Legal Counsel, Assistant Legal Counsel, Consumer Protection Officers, Information Officers, and Support Staff. Function 1. Conduct inquiries and coordinate investigations of consumer complaints against real estate agents and time share projects. 2. Prosecute charges against licensees at hearings before the Real Estate Commission. 3. Provide legal counsel to the Real Estate Commission. 4. Coordinate rulemaking process. 5. Register time share projects and regulate time share sales. 6. Provide information to licensees and consumers concerning the Real Estate License Law and Commission rules. See Number 6 - The Real Estate Commission can provide "legal advice" at least to the extent of what the License Law and Commission rules require ... |
Is my house at danger?
On Thu, 03 Nov 2005 12:32:35 GMT, someone wrote:
6. Provide information to licensees and consumers concerning the Real Estate License Law and Commission rules. See Number 6 - The Real Estate Commission can provide "legal advice" at least to the extent of what the License Law and Commission rules require ... Sorry, but that's not "legal advice". The OP's Q here is not "what are the Commission rules", it was more like "so how can I prove that the Seller knew about this". The Commission aint gonna give him step by step instructions on how to attempt that. It would likely be something more like "XYZ law requires that conditions materially effecting value be disclosed if known; it you wish to file a complaint our rules require it be on Form ABC within X days/months/years of the occurance; do you wish to file a complaint"? That is NOT anywhere near the Q of "did they know and how do I prove it", on which they are NOT gonna give him advice and more than they would give the Seller advice on "the Buyer is claiming I knew about something that doesn't even exist, how do I get him to go away?" Reply to NG only - this e.mail address goes to a kill file. |
Is my house at danger?
I have a similar problem with a house that I purchased recently:
Cracking noises; drywall cracks and many window and doorway corners. How do I find a good and appropriate engineer? What is the kind of engineer that I need called and where do I look? Yellow pages? wrote: I have personal experience w/a house w/foundation failure, so will add another voice to those saying "get an engineer." And, get a GOOD one. Either you'll find out what you need to know, (possibly for your own safety), or you'll be able to put your mind at ease. In my area such an inspection costs about three to four hundred bucks. More if they have to do any testing. Though it's not guaranteed, a good engineer can often spot signs that someone did an inadequate repair or concealed a defect altogether. This may or may not be anyone's fault. But if there is a problem it doesn't say much about the builder if his houses only last 12 yrs. The history of ownership and of any court records or complaints filed w/re to that property or the builder or owners might be very telling. Do your neighbors know if there were past problems? Depending on how small a community you're in, a house that's had problems can be known by quite a few people, like real estate agents, repair companies, etc. Good luck...i hope it turns out to be nothing, but IMO it's worth a few hundred to have some peace of mind. |
Is my house at danger?
M Q wrote:
I have a similar problem with a house that I purchased recently: Cracking noises; drywall cracks and many window and doorway corners. How do I find a good and appropriate engineer? What is the kind of engineer that I need called and where do I look? Yellow pages? Here structural engineers are listed under "Engineers-Structural" in the Yellow Pages. |
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