All Forum Posts by: Cam Mckin

hi Ursula thank you.  What happens if I call another realtor in the area to run comps for me and do some research is there now a 9% commission on the table?  Seems like a conflict of interest to have selling agent handling both ends of the deal and that a buyer should have the right to get their own representation and divide the commission even if he called the sellers agent first. I am hearing different things from different people but if the latter is not the case that is pretty backward.

hi thank you for your responses.  I did not make the offer in writing it was the cellars nephew who told me about the house and suggested that i call the real estate agent we just had a verbal offer but as you know with a verbal offer the terms seem like they keep changing so nothing has been put in writing yet.  would this still prevent me from getting my own agent?

hi everyone this is a follow up to my previous question i am thinking that if i have to pay this realtor that is representing the seller 6 percent i might as well get my own realtor to represent me.  mainly because the sellers realtor is trying to get me to pay all of the closing costs.  i purchased homes in nevada california and florida and it is usually the seller who pays them but maybe alabama is different?  i am thinking that if i get my own realtor to represent me maybe they could negotiate better terms.  i was a little hesitant to do this as the sellers realtor wants 6 percent and i don't want to have to pay another 3 percent to my own realtor.  Do you think i have to worry about this or is the commission for the entire transaction capped at 6 percent?   Thanks for any info.

thank you for the responses,  yes I figured they would have covered every conceivable possibility in the contract but it never hurts to ask.  As I may have mentioned I dont mind paying the 3% but 6% seems a little high as she did not find the buyer and apparently did not show the property once.  But no big deal. 

If it is possible to wait for the contract with century 21 to expire at the end of this month is there a way to hold the deal in the mean time?  Would you suggest we contact a lawyer to handle the closing and aim for a closing date a couple days after the century 21 contract expires?  The house is listed for 55K the seller offered to sell it to me for 35K.  I am afraid that if I don't have a way to hold the deal that this lady from century 21 may put more effort into finding a buyer if she knows the seller will take 35k since she will lose the listing soon.

So just wondering if I can make the seller to commit to the deal now as there are other properties I am interested in now also.  So don't want to have this money tied up for the next month if the deal will ultimately fall through anyway.

Hi everyone, I am trying to purchase a property out of state in Alabama bordering Florida but have a couple questions.

A handyman that is working on my house told me about a house in Alabama that his aunt is trying to sell.  It seems like a pretty good deal.  I am not being represented by an agent and when I called the realtor (century 21) she said that it is written in the contract that if a buyer comes along without an agent that she still gets the 6% commission.  Then she said the lowest she could go is 5%.  The family who is selling the house has had it for sale for over 5 months and the contract with this lady with century 21 is going to expire at the end of this month.  The house is in a rural area about 35 miles from the century 21 offices and they said the realtor had not shown the house once and that when their contract expires at the end of this month they will find another realtor.  (probably a realtor agency who is located closer to their house).  Now here is my question, since this realtor hasn't done anything to promote the property and the person who told me about the property is the nephew of the owner, could we just wait until the end of the month when their contract with century 21 expires and then hire a lawyer to close and draw up the contract?

Also the homes in Nevada and Florida that I have purchased, the closing costs were paid for by the seller.  However this realtor in Alabama said that I would be paying the closing costs which are almost $800.  Is that the norm in Alabama?  Should I request that the seller pay for them?   Or at least split them?

In closing the sellers seem like nice people, they are motivated to sell and we have already agreed on a price.  It would be nice if we could wait until the contract with century 21 expires and then just do the transaction and save the 6% commission but I don't want to wait an extra month if there is some other loophole in the contract that says we will still have to pay her a 6% commission even though the contract has expired (because I inquired about the house while the contract was still valid or something like that) .  3% would be OK but since she has not even scheduled one showing and has been evasive regarding some of the questions I have asked her regarding the house etc., 6% seems a bit excessive.

Thank you for any insights regarding real estate transactions in Alabama.

Hi everyone. I posted here a few months ago regarding investing from distance as I had to leave to the Seattle area to help take care of my mother who has recently been diagnosed with ovarian cancer.  Thank you for all your advice.  I found an area that I might be interested in near Florida.  It is a strange situation which I will ask advice in the starting out section.  Thank you.