All Forum Posts by: Leland S.

Place is in TN.

@Lydia S. - yes, google servers are definitely GPS synchronized. It's the time that it hits their servers. 

No, the deal was negotiated down from ask by 10k, and the commissions was way too high for fsbo. So yes I would prefer a new contract with representation, which I have now. I planned to contact the buyers only to let them know they can make another offer and not mention anything about the realtor. I believe the realtor will block any deals with me out of spite at this point, which isn't in the best interest of the buyers who definitely want the place. 

I had my house on Zillow as FSBO and this snakey agent had a buyer but all along the way would say disingenuous things to get the best deal and take advantage of me the whole way. We ended up under contract and during the inspection negotiations the buyer requested a bunch of silly things to do that I didn't want to pay for, some were a few knobs we tightened with a screw driver. So I declined and offered only to do them if we take the buy price up to the full value ask price I had come down by 10k from. I stayed firm in my response but the guy kept harassing me texting and emailing non stop telling me how the contract would be void and I'd lose my earnest money (not even 1%) etc etc. All the way up til midnight of the 3 day deadline where if negotiations couldn't resolve the contract becomes void. He emails me "5 minutes...", then exactly at midnight, past the 3 day mark he emails me a signed notice from the buyers from 10:41pm that night that they accept the house AS IS. This realtor tried to continue to strong arm me with threats of lawsuits and the contract expiring all the way until midnight. But he was 1 minute late on sending me the notice the buyers already agreed to an hour 20 min before then! I brought up to him that he was 1 minute late and according to the contract that means it is expired. He then sent off a firestorm of messages to me and a phone message agreeing it was expired, but he would send me an extension. I didn't sign the extension and now I signed releasing them from the contract.

I wonder if he broke any rules of conduct since he didn't take his buyer's agreement to save the house deal. He didn't represent their interests. I'm confused about his strange behavior, but I'm also glad to let him go and I hope his buyers find a way to let him go. Sad thing is that they really loved and wanted the house for a variety of reasons. I'm tempted to email the buyers and apologize on behalf of the realtor and make sure they understand he broke the contract, I'd imagine he's found a way to say that I broke it. 

Before:

Carpet removed ... this is cheap poplar wood treads but we couldn't replace treads to maintain code. Adding flooring was a no go as it's basically impossible to come out right.

Almost finished product, just missing another coating on the treads of polyurethane. My dad stained and painted the steps, taking several coats, I think 3 for both risers and treads. 

@Jorge Zea You're talking about in the MLS listing? So I can put any dollar amount I want in there?

@Luka Milicevic Why do you say this? I've been hearing that area is very hot. The comps keep going up a lot. Grassland area. 

I am planning to use a flat fee real estate broker to sell a house in Nashville TN market because it's a hot market and low inventory. I'd like to avoid the 3% buyer fee, but the broker said I have to post a % profit to list on the MLS. It appears too that the MLS has a contract that states I will pay the fee offered on any acceptable offer. So basically that is saying if there's an offer for ask, I must pay the fee listed - understandable. So my idea is to list on MLS for 1% and then utilize the websites to sell the property hopefully to a solo buyer and adjudicate the offers after about 5 days period.

Does anyone else here try to avoid the real estate agent fee's or do they just suck them up and do the standard 3% all around? Particularly in a low inventory market, where not much help is needed to sell a house, supposing it's the right price for buyers to pay.

How do you maximize # of bids on the place in order to have either competition or ability to select the best offer? This agent says most offers are through the website listings so open houses aren't important. 

@Will Barnard 

Thanks.. I was looking into the flat rate service. The question I have on that is since the MLS guarantee's a certain buyers agent profit, is it better to not list on MLS and just list on all the websites myself and maybe hire someone to manage appointments to find a non-realtor buyer? Or is that just getting too risky for non-qualified buyers? I can't be the first person in a hot market to not want to pay realtors when there's no need to assist sellers.

@Dan Beaulieu Great work! Very nice job all around. Congrats. Curious as to how much time it took to manage your subs, was this part time or full time? 

Did you get one GC to do the whole thing? How did you manage your contractors with budget/contracts?

@Justin Tahilramani Not sure how a 1031 exchange helps me if I have no capital gains on a property with expenses.