A friend is moving out of state after 15 years and we are very interested in buying his house. he insisted on listing it with one of his agent friends. they will be shooting photos on Saturday and listing it on Monday. we are willing to pay his asking price and we are thinking about NOT using an agent since this is our 5th property purchase. Is this just careless or is the agent getting a deal ultimately that we pay for. Potentially full 6% commission. I have been telling our friend for years that we are seriously interested and now it's go time. we like the house and we want to secure the property on Sunday before it gets listed on Monday. I spoke to our accountant who said this is a layup for the agent and mentioned asking the selling agent to take a 3% commission and then ask our friend to split the difference in the commission savings. It's a significant amount around $20k since sales prices are high in our market. what is the smoothest way to handle this??
I bought my primary from my uncle, no Agent. $214k sales price, saved just under $13k. I would push for no Agent, but make sure you do an inspection.
COOL! nice story Alex. yes, inspection for sure! we did an hour long walk thru and I asked him for all the surprises. so far most are minor. solid house, solid guy, new copper water lines, new 200 amp panel. I want to get a sewer line scope and find a great home inspector. I also want to visit the city to see if there are any weird variances. this house was the first to be built in neighborhood.
This post has been removed.
we decided it was not worth moving from our house. in the meantime our friend has 8 offers well over asking price and will probably sell the house to the cash offer w no inspection. wow.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.