Sorry-1% is $2400 of our $240k list price.
My client wants to offer $1000 but it isn't one of the options as an amount. How can I post that offer?
Is your home on the market? Do you have a realtor who has posted it on Zillow? If so, that's who you contact to get it corrected. If you are just looking at the general Zillow information, it isn't something to be concerned about. There is a lot of inaccurate information on the public websites, but when a house gets marketed by a Realtor the correct information get's passed along if anyone calls us about it.
Did you sign a buyer's representation agreement to see the house? When you say you want to negotiate directly with the seller, if the seller has an agent you will be working with that agent, not the seller him/herself. I would suggest that you ask your friends who they've worked with in the past, or look around on some of the public website for realtors who have good referral reviews. Be upfront with the next agent you work with and tell them you've seen the house. They may work something out with the previous realtor concerning commission, but it isn't your problem if you haven't signed a representation agreement. The agents will work that out. You definitely need to have confidence in the agent who represents you. And there's much more to it than just the negotiation. While you may be comfortable with that aspect, it's imperative that the paperwork is done correctly, and I would suggest that you trust a realtor for that job.
If you or your clients have participated in this program, can you please comment on how well it worked for you? It seems to me the closing costs are high (my client had a quote of 4 points to get to 4.25%). I'm also wondering if you've had any trouble meeting the 60 day completion deadline and if so, what happened? This is the first client I've had who is considering it. All input would be appreciated.
Remember that saying "Marry in haste, repent in leisure"? The same can be said for buying a home. You absolutely need a Realtor who can help you know what you are getting into. A good home inspection is a must. A good market analysis to be sure the house is priced appropriately could save you a lot of money. The title company needs time to do their work and be sure there aren't liens on the property and that it has a clear title. It is unlikely that this house is going to move quickly, so take a breath and do it the right way.
Hate to give the non-reply, but we don't have the expertise you need. Please ask a qualified CPA. If you don't know a good CPA in your area, I bet there's a Realtor in the area who can give you some recommendations!
Disclosures may or may not be accurate. You'll rely on your own inspections to determine the condition of the house (general home inspection followed by specialized inspections if indicated like HVAC, electrical, roof, etc.) Be sure you haven't waived your right to inspect, and ask for an option period that is long enough to adequately inspect and negotiate the findings from those inspections. I just learned from another post...follow up on any warranties during the option period as well!
Can you see why people have responded the way they have? It's a scary thought that someone would base an offer on a percentage of the asking price! It all depends on whether the house is fairly priced to begin with. That's determined by the location and condition of the house and the sold prices of the homes around it. A Realtor can view that information on your local MLS. If the house is priced fairly, then it's reasonable to expect an offer close to the list price. If it's overpriced by a bunch, it could be way below that. No way to say without adequate information!That said, for houses in our county (Williamson), there are general stats about what percentage is the AVERAGE house selling for compared to the asking price. Perhaps you've heard of those kind of statistics. But that's NOT the way to figure an offer!
I'd recommend talking with a local mortgage broker or bank. Let them tell you if there are issues that are keeping you from getting quotes. Their quotes don't cost you anything.