Just wondering. I know there is a lot of BS paperwork I have to sign and stuff, but Id rather not hassle with one. Anyone done it on their own? PS - Im a first-time homebuyer.
you can do it on your own. but seriously, it's a huge investment. and for a first-time buyer, it might be a good idea.
I wouldn't buy a home without a realtor. I don't know if you're buying new or not, but I bought a new home, and builders "build in" the cost of a realtor into the price of the home anyway, so you may as well use one. The builder pays the realtor. You also may get a better price because builders that impress a realtor can look forward to the realtor bringing more clients to them which means potentially more sales for the builder.
did you pay below market value?? if you didn't, i'm guessing you still payed for the realtor...you just didn't get the benefit of having one.
Back to the question at hand, if you buy a home directly from another person you do not need a realtor (but you will need to do your homework and get appraisals and inspections). If you buy a property listed with a realtor. you will whether you know it or not pay that realtor the 3% buyer realtor fees. In that case, the one realtor will get a 6% fee.
There was no 6% realtor fee in the closing. The builder (Perry Homes) was selling other houses in the same neighbor for similar prices (thus I paid FMV). The builder may have discounted their house prices 6% in case buyers brought in realtors. I do not know.
The townhome that I'm looking at, the builder says he'll drop 3% from the price since I don't have a realtor. Do you think it's just a play and he woulda dropped the price regardless if I had a realtor? Kinda off topic here, anybody know about the Rice Military area? It is a little bit east of Westcott, north of Memorial Dr. It has homes with small non-private backyards (if any) that Surfguy was talking about, but I really like the area. I'm just scared that the prices are too inflated right now due to all the recent growth.
You should be more wary of the finance guys then the realtors. Most of the realtor costs will be there weather you know it or not, so you might as well get the benefit of having a good one take care of all of the paperwork for you.
no way to know for sure. but when a home is listed, the owner isn't doing it in a bubble. his/her asking price calculates in the idea that realtors will likely get paid in the transaction.
Check the tax records and city appraisals for the other properties in the neighborhood. They should help you get a ballpark figure of what it is worth.
I don't trust realtor's. They want to sell or sell you a house just like any other salesman. If the builder wanted to sell it to me directly I would do it. But I've purchases a house then a condo and I will never go to closing without a lawyer. I have a lawyer that specializes in real estate and he reads over everything and then summarizes it for more and tells me what is standard and what to watch out for. The investment in him was more than worth it.
I agree. I sold my last home without an agent and bought my current house without an agent. As long as you do your homework and research your butt off you will do fine. I also used an attorney at a much lower rate then the 3-5% that a realator commands.
Well, I'm going thru it now and I would since I'm buying...Only becuase the seller pays and jacks the price up to cover the cost, so unless its for sale by owner, you're stuck... All I can say is Dallas is expensive and IMO, not worth the money...I miss Houston...
There is no longer a need for the neutron bomb. We already have something that destroys people and leaves buildings intact. It's called a mortgage.
exactly the 3% (not 6%) comes out of a lump advertising budget on new construction ...they either pay it to the buyer's realtor, or they pocket it there is no benefit to not using a realtor on new construction
If you're a first time home buyer (like me), it's a good idea to at least consult with a realtor, preferably someone you know and trust. I'm looking for a house in Steiner Ranch right now, and my family friend has been very helpful in running me through the entire process including loan, escrow, appraisal, insurance, etc.
