Skip to main content

Buyers agent problems

We received an offer on our house that was 2k over asking with 3k closing cost. The house sold in 2 days which is standard for the neighborhood. The buyers appear to be first time home buyers and are apparently ecstatic about it. After the inspection the buyers agent ran into my wife in the driveway when she returned and told her that they didn't find much but made it a point to say that her average inspection garnered $6k in concessions. We thought it was an odd thing to mention. Today was the 9th day of the inspection period and we got the requests back. They have asked for about $2k in repairs (prices assumed by inspector) and another $4800 in closing costs/concessions that they want. At the bottom of the inspection report the total was $6200 dollars for the potential repairs. These repairs were ridiculous: $200 to fix the touch less faucet in the kitchen that "doesn't work without the sensor". $200 because a slide out partition was missing in one of our kitchen cabinets . . . its in our laundry room and can be put back in. So we told them they could have $2k or the repairs which, in our opinion, was a good deal. Before even submitting this to the buyers, the buyer's agent called our agent and asked if we were sure thats all they (us) are willing to offer. Then she proceeded to expand on her logic that we are making out good on this because we are only losing out on $1k, referring to the offer on the house, and that we should be willing to give up more. It appears as though she is treating the inspection report as a means of getting her buyers to pay less rather than to get things fixed that are key items. There are very few things wrong with our house and we feel like this agent is getting in the way of this nice young couple from buying our house by using the inspection report as a way of asking for extra money because she feels its only fair that we give up more. What would happen if I contacted the buyers on Facebook? Or used a mutual friend on Facebook to speak to them indirectly? Since these are first time home buyers I feel they are being led astray by their agent.

submitted by /u/boogersinmyleghair
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/hicokd/buyers_agent_problems/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Aren't comps/CMAs useless with buyer credits at close happening now?

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...

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/