Anonymous wrote:Honestly, it's nearly impossible to decipher all that paperwork and fees and taxes and everything else you're forced to sign at closing. It's very common for a realtor to push you toward a certain title insurance company, home inspector, etc. and even try to lead you to a specific lender and homeowners insurance company. They may get commissions (kickbacks) from those companies for leading customers to them. It's all a racket but remember that the homebuyer is the only real source of money in the transaction so they are the ones who get jerked around the most.

The first time we bought a house, the agent we used was completely useless but we were lucky because it was a buyer's market and we got a good deal with the seller paying closing costs. We obviously did not use her the 2nd time around. This time around we were much more informed, so we knew to shop around - we interviewed several agents, we talked to several lenders, several insurance companies, several title companies, got quotes from several contractors, etc (and our agent gave us recs but also encouraged us to reach out to other people - we didn't use any of her recommendations in the end except the title company b/c they were the lowest price). We also [GASP!] read all the paperwork before we signed it and asked questions about anything we felt was unclear. Our agent walked us through the contract before we signed it, and her office corrected things on the fly. Our agent recommended we waived contingencies, but also gave us some options (e.g. you don't have to waive the appraisal contingency, you sign some sort of addendum that says you will cover the first $X thousand dollars if the appraisal is less than what you offered) and we didn't waive anything we didn't feel comfortable waiving (like financing). We were really pleased and happy that we had done the research and talked to a lot of people.

I think a lot of people just go with whatever random realtor that sends them a flyer or that is related to a friend or whose sign they saw on a cute house, and that is NOT the way to spend hundreds of thousands of dollars.

Anonymous wrote:Agent's only interest is to close the deal. No agent will watch for you. They may pretend that they are watching for you, but they simly want to close the deal and get commision.

THIS^ 1000%

Anonymous wrote:Is there any recourse?

You can call their broker for complaint. May be BBB can help. If too bad, sue them. If there is a way to review, give critical review.

Agents are awful, but I'm also amazed how the highly educated people in this area act like such helpless idiots when it comes to the largest purchase in their lives.

Anonymous wrote:Agent's only interest is to close the deal. No agent will watch for you. They may pretend that they are watching for you, but they simly want to close the deal and get commision.

This

Agent's only interest is to close the deal. No agent will watch for you. They may pretend that they are watching for you, but they simly want to close the deal and get commision.

Anonymous wrote:

Anonymous wrote:No fiduciary standard. Sorry.

Try. To. Keep. Up. You. Effing. Stupid. Dumbass: Kickbacks are *illegal.*

To the degree they have a financial interest in title companies, etc. those are all disclosed and since our anally retentive OP reads the entire document, he would have been able to see that.

But this cynical, baseless assertion that they get "kickbacks" is just pure fantasy. They recommend people they have a history of working with and getting the deal done. Because, guess what? That's in the client's best interest, right? The client wouldn't enter into the transaction if they didn't want the deal done, right?

You really should refrain from ever posting in this forum again. You're a brainless nincompoop.

Cleint's best interest is getting the deal done if deal is a decent one otherwise it's not client's best interest.

Realtor's best interest is getting the deal done no matter what the deal is.

Before the age of Internet real-estate, Buyers' Agents provided a true value-add service in getting to know their clients, knowing the MLS listed properties in their region, and finding potential matches.

With the Internet, a Buyer's Agent simply automates this process. They don't have to really get to know their clients as well, or put anywhere near as much effort into finding suitable matches. This labor has been shifted to the client.

What does the Buyer's Agent do then? They meet you at the property to let you in, and they handle the paperwork. They have relationships with title companies, mortgage lenders, and inspectors that you can leverage if you're willing to risk they are not in cahoots together, or you can find your own. Since everything is subjective in real estate, they can and will say whatever they want to convince their client that things are NBDs.

I've been burned by a Buyer's Agent as well. I was in a hurry and used their inspector. He didn't do a thorough inspection and missed big ticket items, including a broken/leaking roof, foundation damage, and more. I always get my own inspectors now.

Real estate is the closest thing we have nowadays to an enforced mafia. They still take 5 or 6% of the transaction like the old days when they provided real value, but don't put anywhere near the amount of work in anymore. When their costs and labor go down, you'd expect to see that reflected in lower commissions, but nope -- their lobby is exceptionally strong and hasn't let that happened. Look no further than how they reacted against discount online brokers like redfin to see that.

Anonymous wrote:No fiduciary standard. Sorry.

Try. To. Keep. Up. You. Effing. Stupid. Dumbass: Kickbacks are *illegal.*

To the degree they have a financial interest in title companies, etc. those are all disclosed and since our anally retentive OP reads the entire document, he would have been able to see that.

But this cynical, baseless assertion that they get "kickbacks" is just pure fantasy. They recommend people they have a history of working with and getting the deal done. Because, guess what? That's in the client's best interest, right? The client wouldn't enter into the transaction if they didn't want the deal done, right?

You really should refrain from ever posting in this forum again. You're a brainless nincompoop.

Anonymous wrote:Here are some things she did:

-tried for a year to sell me a house that was above my budget and that she knew needed $50K septic system replaced (didn’t tell me that part until after it was sold to someone else)
-told me I’m the first person who has ever actually read the entire offer contract
-told me things missing from sellers disclosure (incl age of water heater and whether ac was working) were nbd
-told me basement moisture evidence was nbd.
-told me loose stair pavers were nbd
-scheduled walkthrough an hour before closing
-did not recommend an escrow for these and other things wrong I noticed that weren’t in the disclosure or inspection
-told me if I didn’t close over these things I’d lose my whole deposit

I found the house myself and she was in it for ten minutes without me once and then only at the walkthrough. On her advice I bid $100K over ask with $50k deposit, no inspection or contingencies and 30d close.

She shouldn't have omitted things or made judgments about what's NBD.
Scheduling a walk-thru an hour before closing is standard - you go straight there.
You can lose your whole deposit for not closing over things if you have no contingencies.

Do you just have regret?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here are some things she did:

-tried for a year to sell me a house that was above my budget and that she knew needed $50K septic system replaced (didn’t tell me that part until after it was sold to someone else)
-told me I’m the first person who has ever actually read the entire offer contract
-told me things missing from sellers disclosure (incl age of water heater and whether ac was working) were nbd
-told me basement moisture evidence was nbd.
-told me loose stair pavers were nbd
-scheduled walkthrough an hour before closing
-did not recommend an escrow for these and other things wrong I noticed that weren’t in the disclosure or inspection
-told me if I didn’t close over these things I’d lose my whole deposit

I found the house myself and she was in it for ten minutes without me once and then only at the walkthrough. On her advice I bid $100K over ask with $50k deposit, no inspection or contingencies and 30d close.

-- I'm not sure why she was telling you about a house needing septic when you didn't buy it, but it's highly unlikely she knew it needed replacing until after the different buyer was under contract and had an inspection done. So you're grasping at that one.

-- Maybe you were the first person to read the entire offer contract. I don't understand how making that observation is some kind of foul?

-- Age of water heater and AC functioning are, in fact, NBD in terms of a seller disclosure. This is why you get an inspection.

-- Basement moisture is probably NBD too. Again, that's why you have an inspection. Most basements have moisture, anyway.

-- I don't know what a "stair paver" is, but loose pavers are NBD -- certainly not something you kill a house contract over.

-- You don't escrow for these little things. Either you want the house or not. You can try to ask the seller to fix them in the home inspection negotiation period, but they'll probably tell you to no.

-- And, yeah, if you didn't close over these things, you probably WOULD lose your deposit.

Honestly, you sound like a nightmare to work with. You sound very ignorant about homebuying, although you also sound like you don't know what you don't know and also like you might be the type who's frequently wrong but rarely in doubt.

And, since you will no doubt make an accusation, I'm not an agent or in any way connected to the industry.

I'm a regular joe who just sold a home I owned for 10 years and bought a new one. I agree with all of this.

And also, depending on what state you buy, the sellers may not be required to disclose much, if anything, legally.

If you waive inspection, you do a walk and talk with an inspector before the offer so that you know basic information like the age of the systems. This is something you look at anyways just touring a house.

A loose paver? Really?

OP sounds like an HGTV-obsessed OCD control freak.

Yeah, a loose paver. That's where I lost it with OP. Jesus.

Anonymous wrote:

Anonymous wrote:Here are some things she did:

-tried for a year to sell me a house that was above my budget and that she knew needed $50K septic system replaced (didn’t tell me that part until after it was sold to someone else)
-told me I’m the first person who has ever actually read the entire offer contract
-told me things missing from sellers disclosure (incl age of water heater and whether ac was working) were nbd
-told me basement moisture evidence was nbd.
-told me loose stair pavers were nbd
-scheduled walkthrough an hour before closing
-did not recommend an escrow for these and other things wrong I noticed that weren’t in the disclosure or inspection
-told me if I didn’t close over these things I’d lose my whole deposit

I found the house myself and she was in it for ten minutes without me once and then only at the walkthrough. On her advice I bid $100K over ask with $50k deposit, no inspection or contingencies and 30d close.

-- I'm not sure why she was telling you about a house needing septic when you didn't buy it, but it's highly unlikely she knew it needed replacing until after the different buyer was under contract and had an inspection done. So you're grasping at that one.

-- Maybe you were the first person to read the entire offer contract. I don't understand how making that observation is some kind of foul?

-- Age of water heater and AC functioning are, in fact, NBD in terms of a seller disclosure. This is why you get an inspection.

-- Basement moisture is probably NBD too. Again, that's why you have an inspection. Most basements have moisture, anyway.

-- I don't know what a "stair paver" is, but loose pavers are NBD -- certainly not something you kill a house contract over.

-- You don't escrow for these little things. Either you want the house or not. You can try to ask the seller to fix them in the home inspection negotiation period, but they'll probably tell you to no.

-- And, yeah, if you didn't close over these things, you probably WOULD lose your deposit.

Honestly, you sound like a nightmare to work with. You sound very ignorant about homebuying, although you also sound like you don't know what you don't know and also like you might be the type who's frequently wrong but rarely in doubt.

And, since you will no doubt make an accusation, I'm not an agent or in any way connected to the industry.

I'm a regular joe who just sold a home I owned for 10 years and bought a new one. I agree with all of this.

And also, depending on what state you buy, the sellers may not be required to disclose much, if anything, legally.

If you waive inspection, you do a walk and talk with an inspector before the offer so that you know basic information like the age of the systems. This is something you look at anyways just touring a house.

A loose paver? Really?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Honestly, it's nearly impossible to decipher all that paperwork and fees and taxes and everything else you're forced to sign at closing. It's very common for a realtor to push you toward a certain title insurance company, home inspector, etc. and even try to lead you to a specific lender and homeowners insurance company. They may get commissions (kickbacks) from those companies for leading customers to them. It's all a racket but remember that the homebuyer is the only real source of money in the transaction so they are the ones who get jerked around the most.

No, they don't. That's a baldfaced lie.

They will steer clients to people they have experience with to ensure the deal closes without any hiccups.

DP here. Realtors DO get kickbacks! Quit trying to cover for your corrupt practices.

No they don't, you stupid dumbass. And, I'm not an agent.

Jesus, you stupid people with your rabid imaginations.

+ 1. I was an agent for 10 years on a top team. The only kickback I got was lunch at Matchbox. We had fancy dinners from lenders and "classes" from title companies. No home inspector is giving a kickback.

Anonymous wrote:Honestly, it's nearly impossible to decipher all that paperwork and fees and taxes and everything else you're forced to sign at closing. It's very common for a realtor to push you toward a certain title insurance company, home inspector, etc. and even try to lead you to a specific lender and homeowners insurance company. They may get commissions (kickbacks) from those companies for leading customers to them. It's all a racket but remember that the homebuyer is the only real source of money in the transaction so they are the ones who get jerked around the most.

Beautifully said. Need a plaque made of this.

No fiduciary standard. Sorry.