It seems perfectly acceptable, but prepare for a little pushback because it's probably listed for sale on Craigslist because they don't want to pay realtor fees. You may need to modify your offer based on that
It seems perfectly acceptable, but prepare for a little pushback because it's probably listed for sale on Craigslist because they don't want to pay realtor fees. You may need to modify your offer based on that
If the seller post it on Craigslist, most likely, the seller want to save the realtor commission.
If you can write the purchase agreement yourself or have the seller write the purchase agreement for you, maybe you are able to save additional 2.5% discount by not using a realtor.
If you use a realtor, the seller need to pay 2.5% commission to your realtor, the seller will make the sale price be 2.5% higher, which means you are the one who is paying for the 2.5% commission to your realtor.
But if you are not familiar with the purchase contact at all, it is worth to pay 2.5% commission to hire a realtor help you through the process.
Something to think about. As a Realtor, I post all my listings on Craigslist. The reason is for international buyers. Investors in China, India etc have access to CL and the market they are looking for already sorted for them.
If seller is not using a Realtor or offering buyer agent commission, are you paying the realtor a flat fee for writing up the offer?
I don't think there is anything wrong with it. Do you have a contract with your Realtor? Has your Realtor been good to you? If so, I'd chat with them about it, you should get some honest advice. I'd be clear in my offer about your Realtor getting a commission in your offer.
Perfectly acceptable. I use a realtor for purchases I find via my direct mail campaign. I pay a flat fee of $500 for the realtor to write up the contract, get it eSigned, and handle any issues that come up in closing. THis is after I negotiate the price with the seller. Well worth the $500 for me.
@Karen Young Unless you are asking the seller to pay the agent's fee, no need to mention "my agent" as that may make them think they will be paying a fee, just tell them you'll write it up.
@Gregory B. just having moved to NY things are different here than where I came from in CT.
In CT an offer to buy a house usually comes in on a contract. If agreed all parties sign and the house is under contract (could be done in hours or even minutes). In NY, the offer is a submitted on a certain form, and then the sellers attorney drafts a contract at a later date.
In CT my attorney reviewed the contract if I asked them to, however they were usually very straight forward and I never had a need. In NY, an attorney is 100% involved in the contract.
@Gregory B. just having moved to NY things are different here than where I came from in CT.
In CT an offer to buy a house usually comes in on a contract. If agreed all parties sign and the house is under contract (could be done in hours or even minutes). In NY, the offer is a submitted on a certain form, and then the sellers attorney drafts a contract at a later date.
In CT my attorney reviewed the contract if I asked them to, however they were usually very straight forward and I never had a need. In NY, an attorney is 100% involved in the contract.
Thanks Brian, are the forms used basically approved state or local realtor association forms or are they actually drafted by the broker?
@Gregory B. in CT it is a purchase agreement and the ones I have seen have all been standard and more or less the same. Sometimes there are additional pages due to VA or FHA loans, etc... however the basic documents is the same. It is a standard one and the realtor fills in the sections needing info (dates, names, prices, contingencies, etc.). It shortened the timeframe of buying/selling houses in CT verse NY.