Beware of Zillow, REX, Open Door, Purple Brick and the others like them. They don't have your best interest in mind. These companies are not representing you. Be smart and be safe; hire a REALTOR to watch your back.
They say no commissions but instead they charge outrageous "FEES", and change the deal terms after there inspection. Without a REALTOR, money is left on the table.
REALTORS are held to a higher standard of ethics and are licensed professionals. Stay away from than these hedge-fund tech companies.
https://www.reddit.com/r/RealEstate/
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I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
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