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/
Labels:

Comments

Post a Comment

Popular posts from this blog

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...
1 comment
Read more

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/
Post a Comment
Read more

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...
Post a Comment
Read more