Is there a web site listing local lawyers with legal specialites (real estate)? I know a couple, but it would be good to choose from a list.
Thats a different situation. FSBOs (For Sale By Owners) have their advantages (no comm) and disadvantages (normally take longer to sell and often at below FMV). Depends on the situation. Going without a realtor just to have that 3% rebated back off the price of the house is not necessarily beneficial, if for example, the home was overpriced to begin with or if the buyer, on his own, is able to negotiate additional concessions like closing costs assistance, home warranties, etc. If its a FSBO situation, then both the buyer and seller take their own risks. However, if there is a selling agent is involved, then the buyer is doing themselves a tremendous diservice by not being represented. FMV = FMV regardless of a hot real estate market or not. Ultimate, the bank's appraiser determines the FMV. Again, a seller can try go their 6% back by adding it back into the price of the house, but the appraiser isn't going to appraise it for that 6% extra. And again, when a realtor is doing a search in that neighborhood, if they see a house overpriced by 6%, they are normally just going to pass it over (i.e. most educated sellers don't try and overprice the house by 6% to avoid having to pay comm).
