All Forum Posts by: Jose Centeno

@Kevin Kohler which is exactly what his game plan was. Open doors and nothing else. At no point did he say “we charge this amount because we provide these specific services”....or  “this is where we add value that no one else does.” 

Update:

I told him I don’t feel comfortable agreeing to that fee and that I haven’t found anything or spoken to anyone who can confirm that this fee is somehow “standard.” 

He says that they charge this because they are "the best at what they do" and then dismissed me lol. Keep in mind, all he did was set me up with automated alerts off the MLS, and I personally had to compile a list of properties and send them over to him. Good riddance.

@Stacey Figueroa thank you. That’s what I was thinking and it would make sense if he (the agent) told me that when submitting an offer for a particular property. (“this seller doesnt want to pay 6%”). But he made a blanket statement as we are lining up multiple showings tomorrow. He just said across the board, that I have to pay him 2-2.5%. Thanks again. 

Thanks all. You guys are awesome. 

@Tabitha Jones I will gladly take your moms info! 

Good morning all, 

I’ll keep this brief. I will be looking at properties in the Allentown/Bethlehem/Easton region tomorrow. Agent claims that the total commission paid is 5% of the purchase price, and that the seller pays 2.5-3% of that amount. The buyer is then responsible for the rest (2% to 2.5%). Does anyone know if this is true? He claims that “things are done a little differently here (PA).” I was under the impression seller always pays commission. 
I would appreciate any insight. Thanks all. 

@Ro B. congrats and good luck 

@ro b 

@Ro B. what did you end up doing? 

Thanks everyone for your responses. This property was in Shelton and I did not purchase. 

@Marcus House I appreciate your response. 

My lingo is way off as I meant to say that PITI was only principal and interest. So just to be clear my mortgage payment will be roughly $1632.82, not including taxes and insurance (another learning lesson for me).

Class rate I would say is B. It’s in a pretty nice neighborhood. I went to check it out today. I’m concerned that it’s not a big rental market as most people own their homes, so I may have some vacancy issues in the future should a tenant choose to move out. 

Cap rate by my calculations would be $18,801/$410,000 = 4.5%

Anyone???