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Replies (6)
- Terri Linnell, "DebtsNMesses"
- Contributions:6728
Your agent really shouldn't suggest that your price if fair/unfair. You should put in what YOU want, not what the agent THINKS the seller wants. It's not about the seller. Your bid is YOURS... let the seller counter.
Full Price with no Seller Concessions?
You say, "My Agent"
What type of Agency Relationship do you have with this Agent?
?
You say, "My Agent"
What type of Agency Relationship do you have with this Agent?
?
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
I can understand that many markets in TX are pretty good where the sellers are getting list price. Are you in a multiple offer situation where your agent wants to give you the most possible advantage?It's great that your agent is giving you advice but you should do what you feel the house is worth to you. Have you seen comparables? Has your agent shared with you the history on the home such as how much the owner owes on the house etc...?Naima
CLStx,
Your agent wants you to have the highest offer so they have the highest chance of getting paid. Don't fall for that.
Your agent wants you to have the highest offer so they have the highest chance of getting paid. Don't fall for that.
- Harry Brannan, ABR, GRI, "Harry Brannan"
- Contributions:108
To be fair we don't have all of the facts here and we can not interfere in the contractual relationship between you and your agent.
It is your agents fiduciary resposibility to give you their advice and opinions so that you can make an informed decision.
I think if you are unsure of the situation you should ask your agent to explain more about how they arrived at their opinion.
Be wary of some of the advice and opinions you view in an open forum such as this, many are not based on any facts whatsoever and some are just absolutely ridiculous.
It is your agents fiduciary resposibility to give you their advice and opinions so that you can make an informed decision.
I think if you are unsure of the situation you should ask your agent to explain more about how they arrived at their opinion.
Be wary of some of the advice and opinions you view in an open forum such as this, many are not based on any facts whatsoever and some are just absolutely ridiculous.
- Pasadenan
- Contributions:21453
Which closing costs do you expect the seller to pay? They already pay part of the escrow fee, and part of the county recording fee. They already pay for the termite inspection and any corrections required by the termite company. They already pay about 6% of what they receive to both realtors and their brokers. They already have to give the majority of what they receive to their mortgage company to pay off their debt. They already have to pay moving expenses. They already have to pay for various touch-up and clean-up before anyone even sees the home. They already had to consider new paint, new carpets, new window treatment, new faucets, new shower heads, new electrical wall plates... They already have to make any "repairs" necessary to comply with occupancy requirements. They already expect you to back out of escrow due to the items that will be found by the home inspector you hire, or because you could not get the loan you thought you could.
The amount someone owes is none of your business, so any realtor that says you should know that is lying to you. So if I owe NOTHING, will you pay $3 million over the comparable values? Or does it mean you expect to get it for "FREE"???? Or do you expect to pay for every penny that the previous owner put into the house including all the interest payments, tax payments, and insurance payments???
Sure, a motivated seller might offer to pay for your loan origination fees, or your share of the recording fee, or your share of the escrow fee... BUT why should they? If you don't have money to afford the house, you should not be buying.
It is more common for "builders" to offer such STUPID "incentives", because they added them into the cost of the house already and are not planning on selling for less than would pay off all their expenses as well as provide some minimal profit. They have more "motivation" for doing such things, as it affect the comparables for the units they still have to sell, AND they want to make sure their previous "clients" do not think the bought a "lemon" when they see in the public records what the neighbors bought for.
If you asked me to pay your closing costs in your initial offer, I MIGHT counter with "no closing costs to be paid by seller", but I would be more likely to say "rejected" and look for other offers, or remove the house from the market.
The amount someone owes is none of your business, so any realtor that says you should know that is lying to you. So if I owe NOTHING, will you pay $3 million over the comparable values? Or does it mean you expect to get it for "FREE"???? Or do you expect to pay for every penny that the previous owner put into the house including all the interest payments, tax payments, and insurance payments???
Sure, a motivated seller might offer to pay for your loan origination fees, or your share of the recording fee, or your share of the escrow fee... BUT why should they? If you don't have money to afford the house, you should not be buying.
It is more common for "builders" to offer such STUPID "incentives", because they added them into the cost of the house already and are not planning on selling for less than would pay off all their expenses as well as provide some minimal profit. They have more "motivation" for doing such things, as it affect the comparables for the units they still have to sell, AND they want to make sure their previous "clients" do not think the bought a "lemon" when they see in the public records what the neighbors bought for.
If you asked me to pay your closing costs in your initial offer, I MIGHT counter with "no closing costs to be paid by seller", but I would be more likely to say "rejected" and look for other offers, or remove the house from the market.
Closing Costs - yes or no
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