Buying without agent: what are the concrete steps I need to take?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have done it several times. Got the contract executed, let my attorney and settlement company go over it and got the property cheaper. It works fine if both buyer and seller have good intention of making it work.

Paying 4% commission to agents is useless if you are in a HOT market.

FFS, this only applies if the seller is FSBO. So, maybe you should say that up front rather than give misleading shit advice.

Actually it does not, the seller’s agent still gets paid and the fee they would have paid to the buyer’s agent is just used to reduce the purchase price. Pretty simple. All fees are negotiable.

NP and I think the challenge which I noted in another post is that the listing agreement usually spells out the split so the agent is usually entitled to the buyer's agent share if the buyer is unrepresented. The seller could technically renegotiate the contract but the agent will say how much extra work it is with an unrepresented buyer blah blah blah so that may or may not be successful. I think it's a lot cleaner to just go with a rebate agent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have done it several times. Got the contract executed, let my attorney and settlement company go over it and got the property cheaper. It works fine if both buyer and seller have good intention of making it work.

Paying 4% commission to agents is useless if you are in a HOT market.

FFS, this only applies if the seller is FSBO. So, maybe you should say that up front rather than give misleading shit advice.

Actually it does not, the seller’s agent still gets paid and the fee they would have paid to the buyer’s agent is just used to reduce the purchase price. Pretty simple. All fees are negotiable.

Not true. Read the listing agreement. You don't get to negotiate contractual fees after the contract has been executed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have done it several times. Got the contract executed, let my attorney and settlement company go over it and got the property cheaper. It works fine if both buyer and seller have good intention of making it work.

Paying 4% commission to agents is useless if you are in a HOT market.

FFS, this only applies if the seller is FSBO. So, maybe you should say that up front rather than give misleading shit advice.

Actually it does not, the seller’s agent still gets paid and the fee they would have paid to the buyer’s agent is just used to reduce the purchase price. Pretty simple. All fees are negotiable.

NP and I think the challenge which I noted in another post is that the listing agreement usually spells out the split so the agent is usually entitled to the buyer's agent share if the buyer is unrepresented. The seller could technically renegotiate the contract but the agent will say how much extra work it is with an unrepresented buyer blah blah blah so that may or may not be successful. I think it's a lot cleaner to just go with a rebate agent.

I agree. If the seller is listing with a regular (non rebate) agent, they likely have already decided to pay the commission for two agents (or may have contractually agreed to give both commissions to their agent if buyer is unrepresented) and aren’t interested in making it work with an unrepresented buyer.

But, you can make any sort of offer you want and see how it goes. If you make the purchase contingent on a satisfactory inspection (include this contingency in your offer) the seller’s agent will have to let you in to do the inspection.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have done it several times. Got the contract executed, let my attorney and settlement company go over it and got the property cheaper. It works fine if both buyer and seller have good intention of making it work.

Paying 4% commission to agents is useless if you are in a HOT market.

FFS, this only applies if the seller is FSBO. So, maybe you should say that up front rather than give misleading shit advice.

Actually it does not, the seller’s agent still gets paid and the fee they would have paid to the buyer’s agent is just used to reduce the purchase price. Pretty simple. All fees are negotiable.

Chances are there will be multiple offers. The seller's agent won't want to be bothered with a novice who is going to take a lot of their time. They will move one to other offers.