Question:
Make sure to have an attorney versed in Real Estate law draw up your contract. It will be the best $300-500 you will spend. DO NOT use a Realtor’s contract and DO NOT use one from an office supply house. Trip – Hide quoted text — Show quoted text -> > April, > > Excellent, excellent advice given so far! The best bits offered >to > > date and the most important in my numerous years on the planet are.. > > 1. Get yourself a "buyers agent". > The buyer’s agent has to get their commission from somewhere. In this > case, the commission will come out of the purchase price. Either the > seller will be willing to take a lower net price of their home, or the > buyer will have to ante up the dough. The seller’s willingness to pay > for the commission will depend on the market, and if they have any > competitive offers. If you want to save this money, don’t bring in a > buyer’s agent, but definitely do get a lawyer (that you pay for). > We sold our first house FSBO. We had two offers: one from a private > party with no agent involved, and one represented by an agent. Our > private offer was for asking price, and it was the first offer. We > told the agent that in order for us to accept her buyer’s offer, they > would have to cover her 2.5% commission (the standard in the area), > plus if they offered enough more, we’d accept them on the spot > (rather than going back to the private party for a counter offer). > They did, and we did. > Jeanne
Response:
> I am considering of buying home from owner near dallas, texas. I have > the following question. > 1) Where can I get the pre-print contract ? > 2) What usually buyer pay/offer to pay at closing ? > 3) How do I know the price is right ? The price of this house is > currenly 3,000 below tax appraisal. > Since there is no realtor to do the market analysis for me. Any tips > to know whehter I pay too much. > Thank you, appreciate your advice. > April
Read this ebook first then April, its a must read in your case. http://www.fsbotips.com/cb/?hop=promocheck.fsbotips
Response:
> Do you really believe that? That must be why southern ‘Californication’ is > referred to as the fraud capital of the world? And where crimes committed > by the "stuft shirt" has become the norm rather than the exception and why > some city employed more white collar crime investigators than the entire San > Bernadino county.
Now you’re talking out of your ass. Are you saying that there is a lot of fraud in California real estate transactions? > If being an anarchist gets you off that’s your choice, > just stay out of my way. > A bit put off are we? I will only be in your way if you attempt to cross my > line of protest.
I’m usually only put off by ignorant fools and the generally stupid so, yeah, I suppose you I am a bit put off by your BS. > Finally, I am always amused by people like you who seem to think > everything > is or should be easy and it’s all the government’s fault. > What do you mean by "it".
Been reading long? >Tell me something, > what do you do to put food on the table… or ground, or wherever you eat? > Does it matter? If I were a homeless man on the street, would my opinion be > less important than if I were a briefcase wielding white collar bloke in > wingtips sitting at a marble desk paid for under the guise of a tax write > off funded with the employees Christmas bonuses?
Your comprehension and logic skills aren’t too strong are they? I never implied that I wanted to evaluate your opinion based on your profession. The purpose of my question was to get the opportunity to put things in perspective for people like you who always think the rest of the world is poised to screw them. But alas, you are indeed a waste of time.
Response:
> Sure, and there used to be a time where people got screwed on a daily
basis. Yup. And getting screwed was once settled with a six-shooter and that seems to be happening more often doesn’t it? Even at the elementary and high school level and yes, even in homeowners associations. Why is that? > In fact, some less enlightened states still have problems that many of us > never worry about. I read about things on in these newsgroups that are > either extremely rare or never happen here in California.
Like what? Do you really believe that? That must be why southern ‘Californication’ is referred to as the fraud capital of the world? And where crimes committed by the "stuft shirt" has become the norm rather than the exception and why some city employed more white collar crime investigators than the entire San Bernadino county. > If being an anarchist gets you off that’s your choice, > just stay out of my way.
A bit put off are we? I will only be in your way if you attempt to cross my line of protest. > Finally, I am always amused by people like you who seem to think everything > is or should be easy and it’s all the government’s fault.
What do you mean by "it". >Tell me something, > what do you do to put food on the table… or ground, or wherever you eat?
Does it matter? If I were a homeless man on the street, would my opinion be less important than if I were a briefcase wielding white collar bloke in wingtips sitting at a marble desk paid for under the guise of a tax write off funded with the employees Christmas bonuses? – Hide quoted text — Show quoted text -> There used to be a time when buying and selling a home was simple > concept. > But not after the bureacrats took control and legislatively turned "abc, > 123" into a "dissertation and trigonometry" and the old fashioned home > has > become a corporate and political money machine via the commons and > homeowners associations. > — > JAIL THE SUITS! Eradicate corporate and political criminals.
Response:
Yes! If the attorney is not a crock too! -Subcomandante
– Hide quoted text — Show quoted text -> Make sure to have an attorney versed in Real Estate law draw up your contract. > It will be the best $300-500 you will spend. DO NOT use a Realtor’s contract > and DO NOT use one from an office supply house. > Trip >> > April, >> > Excellent, excellent advice given so far! The best bits offered >to >> > date and the most important in my numerous years on the planet are.. >> > 1. Get yourself a "buyers agent". >> The buyer’s agent has to get their commission from somewhere. In this >> case, the commission will come out of the purchase price. Either the >> seller will be willing to take a lower net price of their home, or the >> buyer will have to ante up the dough. The seller’s willingness to pay >> for the commission will depend on the market, and if they have any >> competitive offers. If you want to save this money, don’t bring in a >> buyer’s agent, but definitely do get a lawyer (that you pay for). >> We sold our first house FSBO. We had two offers: one from a private >> party with no agent involved, and one represented by an agent. Our >> private offer was for asking price, and it was the first offer. We >> told the agent that in order for us to accept her buyer’s offer, they >> would have to cover her 2.5% commission (the standard in the area), >> plus if they offered enough more, we’d accept them on the spot >> (rather than going back to the private party for a counter offer). >> They did, and we did. >> Jeanne
Response:
> There used to be a time when buying and selling a home was simple concept. > But not after the bureacrats took control and legislatively turned "abc, > 123" into a "dissertation and trigonometry" and the old fashioned home has > become a corporate and political money machine via the commons and > homeowners associations.
Correction: It was the stupid consumer, not bureaucrats, who started believing that buying home is an investment rather than housing. It started in early 70’s I know I was there. Just listen the news announcements like "Good News houses went up 20%" what an oxymoron. Can you imagine saying "Good News Gasoline went up". -Subcomandante – Hide quoted text — Show quoted text – — > JAIL THE SUITS! Eradicate corporate and political criminals. — > > April, > > Excellent, excellent advice given so far! The best bits offered > to > > date and the most important in my numerous years on the planet are.. > > 1. Get yourself a "buyers agent". > The buyer’s agent has to get their commission from somewhere. In this > case, the commission will come out of the purchase price. Either the > seller will be willing to take a lower net price of their home, or the > buyer will have to ante up the dough. The seller’s willingness to pay > for the commission will depend on the market, and if they have any > competitive offers. If you want to save this money, don’t bring in a > buyer’s agent, but definitely do get a lawyer (that you pay for). > We sold our first house FSBO. We had two offers: one from a private > party with no agent involved, and one represented by an agent. Our > private offer was for asking price, and it was the first offer. We > told the agent that in order for us to accept her buyer’s offer, they > would have to cover her 2.5% commission (the standard in the area), > plus if they offered enough more, we’d accept them on the spot > (rather than going back to the private party for a counter offer). > They did, and we did. > Jeanne
Response:
I am considering of buying home from owner near dallas, texas. I have the following question. 1) Where can I get the pre-print contract ? 2) What usually buyer pay/offer to pay at closing ? 3) How do I know the price is right ? The price of this house is currenly 3,000 below tax appraisal. Since there is no realtor to do the market analysis for me. Any tips to know whehter I pay too much. Thank you, appreciate your advice. April
Response:
> I am considering of buying home from owner near dallas, texas. I have > the following question. > 1) Where can I get the pre-print contract ?
Texas Real Estate Commision, http://www.trec.state.tx.us/ > 2) What usually buyer pay/offer to pay at closing ? > 3) How do I know the price is right ? The price of this house is > currenly 3,000 below tax appraisal. > Since there is no realtor to do the market analysis for me. Any tips > to know whehter I pay too much.
There is a lot of info in the various docs available from TREC, but you really should talk to an agent or (for FSBO, preferably) a lawyer familiar with real estate transactions. There are a lot of variables to watch, and it really helps to have someone who’s familiar with the process. We recently bought a house that was a FSBO when we started – after we presented the offer (through an agent we were working with) the seller suddenly also had an agent, different sign in the yard, the whole thing, before responding. It would’ve thrown us for a loop if we didn’t have the experience of our agent to fall back on. Good luck! cw
Response:
April – I bought my house FSBO, and didn’t really save a lot from the listed price with an agent. In my opinion, there are tradeoffs. It is reasonable to think that the you should pay 6% less than the listing by an agent, but the seller thinks they should make 6% more than the listing by an agent. See the conflict. So you split the difference at 3%, but is the house marketed at the right price in the first place? How do you tell that. You look at comps and decide if YOU FEEL THE HOUSE IS PRICED RIGHT and then you buy it. I think it is really, really, really difficult to perform a balance sheet analysis on a FSBO house vs. an agent house. Each house is so different that the changes from FSBO are likely lost in details like hardwood floors, recessed lighting, corian counters, etc. etc. One lesson I learned buying FSBO is that you both have to realize that its a FSBO deal, and there is no one to make demands to (e.g. The Agent). If something has to be done, one of you have to do it. In my opinion, it isn’t reasonable to expect the seller to do all the work, and I’m not sure it is in your best interest to have them do all the work. Lastly, since there isn’t an agent, you and the seller have to work together to perform this function. If the seller is a pain in the ass during the showing, and during the negotiations, and on the phone and in person, you might want to consider buying a different house. FSBO isn’t for everyone, and getting stuck with a pain-in-the-ass on the other side of the contract is likely to make for an unpleasant experience. Lastly, GET A LAWYER. P
– Hide quoted text — Show quoted text -> I am considering of buying home from owner near dallas, texas. I have > the following question. > 1) Where can I get the pre-print contract ? > 2) What usually buyer pay/offer to pay at closing ? > 3) How do I know the price is right ? The price of this house is > currenly 3,000 below tax appraisal. > Since there is no realtor to do the market analysis for me. Any tips > to know whehter I pay too much. > Thank you, appreciate your advice. > April
Response:
– Hide quoted text — Show quoted text -> I am considering of buying home from owner near dallas, texas. I have > the following question. > 1) Where can I get the pre-print contract ? > Texas Real Estate Commision, http://www.trec.state.tx.us/ > 2) What usually buyer pay/offer to pay at closing ? > 3) How do I know the price is right ? The price of this house is > currenly 3,000 below tax appraisal. > Since there is no realtor to do the market analysis for me. Any tips > to know whehter I pay too much. > There is a lot of info in the various docs available from TREC, but you > really should talk to an agent or (for FSBO, preferably) a lawyer > familiar with real estate transactions. There are a lot of variables > to watch,
ask that owner if the house is part of a homeowners association and if it has ccr’s and if it is or ever has been involved in litigation. be very very careful before you buy a home with an HOA!! check out the following website for more information as to why you should – BE AWARE OF HOA!!! http://www.thetexashomeowneradvocate.com http://www.propertyrightstexas.com http://www.ahrc.com http://members.cox.net/concernedhomeowners/concernedhomeowners.htm if you insist on incarcerating yourself into the hoa housing pathology – get those CCR’s. read them. understand them. understand the risks of hoa housing. find out about HB2152 law in texas where the hoa can foreclose on your home without your day in court. every homeowner behind the gates is potentially liable for whatever happens behind those gates. and it really helps to have someone who’s familiar with the – Hide quoted text — Show quoted text -> process. We recently bought a house that was a FSBO when we started – > after we presented the offer (through an agent we were working with) > the seller suddenly also had an agent, different sign in the yard, the > whole thing, before responding. It would’ve thrown us for a loop if we > didn’t have the experience of our agent to fall back on. > Good luck! > cw
Response:
Most office supply stores carry standard sales agreements. Each state is different about who pays what. You need to discuss this and agree beforehand. A lawyer is a good thing tohave….you will need one to run the title. Be very careful about what you agree to…and remember that contracts for the sale of real property almost always have to be in writing. Check your county tax appraiser’s office and see if they have a web site. I live in FL where the tax appraiser has a web site where you can type in the street address and find out all about the recent sales in the area….then you will have a better idea if the asking price is really fair. Dorothy
Response:
April, Excellent, excellent advice given so far! The best bits offered to date and the most important in my numerous years on the planet are.. 1. Get yourself a "buyers agent". 2. Get yourself a laywer. 3. Get a certified appraisel. 4. Get a qualified Property Inspector. (More than five years and 1250 fee paid inspections) Hope this is of some help.. John D. Robertson (Using his brides ISP) Arizona "Redi-Check" Property Inspection Co.
– Hide quoted text — Show quoted text -> I am considering of buying home from owner near dallas, texas. I have > the following question. > 1) Where can I get the pre-print contract ? > 2) What usually buyer pay/offer to pay at closing ? > 3) How do I know the price is right ? The price of this house is > currenly 3,000 below tax appraisal. > Since there is no realtor to do the market analysis for me. Any tips > to know whehter I pay too much. > Thank you, appreciate your advice. > April
Response:
> April, > Excellent, excellent advice given so far! The best bits offered to > date and the most important in my numerous years on the planet are.. > 1. Get yourself a "buyers agent".
The buyer’s agent has to get their commission from somewhere. In this case, the commission will come out of the purchase price. Either the seller will be willing to take a lower net price of their home, or the buyer will have to ante up the dough. The seller’s willingness to pay for the commission will depend on the market, and if they have any competitive offers. If you want to save this money, don’t bring in a buyer’s agent, but definitely do get a lawyer (that you pay for). We sold our first house FSBO. We had two offers: one from a private party with no agent involved, and one represented by an agent. Our private offer was for asking price, and it was the first offer. We told the agent that in order for us to accept her buyer’s offer, they would have to cover her 2.5% commission (the standard in the area), plus if they offered enough more, we’d accept them on the spot (rather than going back to the private party for a counter offer). They did, and we did. Jeanne
Response:
There used to be a time when buying and selling a home was simple concept. But not after the bureacrats took control and legislatively turned "abc, 123" into a "dissertation and trigonometry" and the old fashioned home has become a corporate and political money machine via the commons and homeowners associations. JAIL THE SUITS! Eradicate corporate and political criminals.
– Hide quoted text — Show quoted text -> April, > Excellent, excellent advice given so far! The best bits offered to > date and the most important in my numerous years on the planet are.. > 1. Get yourself a "buyers agent". > The buyer’s agent has to get their commission from somewhere. In this > case, the commission will come out of the purchase price. Either the > seller will be willing to take a lower net price of their home, or the > buyer will have to ante up the dough. The seller’s willingness to pay > for the commission will depend on the market, and if they have any > competitive offers. If you want to save this money, don’t bring in a > buyer’s agent, but definitely do get a lawyer (that you pay for). > We sold our first house FSBO. We had two offers: one from a private > party with no agent involved, and one represented by an agent. Our > private offer was for asking price, and it was the first offer. We > told the agent that in order for us to accept her buyer’s offer, they > would have to cover her 2.5% commission (the standard in the area), > plus if they offered enough more, we’d accept them on the spot > (rather than going back to the private party for a counter offer). > They did, and we did. > Jeanne
Response:
Sure, and there used to be a time where people got screwed on a daily basis. In fact, some less enlightened states still have problems that many of us never worry about. I read about things on in these newsgroups that are either extremely rare or never happen here in California. So say what you will. If being an anarchist gets you off that’s your choice, just stay out of my way. Finally, I am always amused by people like you who seem to think everything is or should be easy and it’s all the government’s fault. Tell me something, what do you do to put food on the table… or ground, or wherever you eat?
– Hide quoted text — Show quoted text -> There used to be a time when buying and selling a home was simple concept. > But not after the bureacrats took control and legislatively turned "abc, > 123" into a "dissertation and trigonometry" and the old fashioned home has > become a corporate and political money machine via the commons and > homeowners associations. — > JAIL THE SUITS! Eradicate corporate and political criminals.
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