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Serious Questions: Need Help.. Newbie buyer trying to help protect moms investment.
Although small - we just purchased a mobil home for 10K. However, since I started cleaning several issues have come up.
Black marks coming through the wall paper. I thought it was just dirt. But I've been cleaning in the same bathroom for 1 1/2 days the grime is aweful.
Dirt color.. Can it become blackened if the place is old or is it potentially black mold?
The realtor was eager for us to use her friend who is a contractor (as our inspector for the house) but here is the kicker. He is also the seller. And, I also just found out that although he said he doesn't have much knowlege of the place... he also is a buyer of other units in the same complex.
And, when I asked if the home was inspected for black mold his comment was what do you want for 10K and no, I didn't inspect it that closely.
Obviously, the toilets were running and there is a leak outside the home which the maintance man said he would calk to see if it would work. (who is also well acquainted with the seller) and neither the park nor the seller wanted to take responsibility for or disclosed.
Then, while bare footed I walked over the carpet and felt differences in the floor level and a couple of places where the carpet "poofed up" a bit. Am I going crazy here or did we make a huge mistake and they: The realtor, seller and possibly the property owners are laughing all the way to the bank or should I just relax. Help.
If you can find a realtor who knows how to network and actually prequalifies a buyer, you MIGHT actually find yourself with a real professional who can get the job done. However, 90 percent or better of the realtors today have failed at other occupations or lost jobs due to the economy and think that selling houses is easy so anyone can do it. For what they do or don't do, I have and will continue to do it on my own because I have yet to meet a realtor who was worth a 6 percent commission. Actually, we were thrilled when we finally fired a realtor and decided to sell a rental property on our own. The dim wit who claimed to know about rental properties failed to investigate what was necessary with the local township and we were fortunate that we never accepted a contract before we fired him. His failure to do what he claimed he had done or knew would have cost us thousands of dollars at the settlement table because we would have lacked the ability to complete what was necessary before settlement which would have resulted with us suing him for recovery.
Another popular response when things do not go well is that the house/property is overpriced. Sellers do not need a realtor to keep lowering the price, but if a realtor knows what they are doing in the first place - having to keep lowering the selling price is an indication that something is wrong. The article bashes realtors and should because most everything in the article has at one time or another happened to us.
The further South we travel in this country as homeowners, I am convinced the lazier the realtors get. Getting them to actually appear at a showing as your representative would scare me that the world was about to end. If realtors do not want property owners or buyers to post our negative experiences, may I suggest that you actually begin working for a living instead of sitting back and talking about what you think you know. Also, driving perspective buyers around in your car for a day is your mistake not the sellers when you do not prequalify your buyer. Actually, I think you deserve to waste your gas money and be taken advantage of because you failed to do your job and act responsively.
Last, but not least. Many realtors have you sign waivers that state that they are not liable for the listing. In other words, you may have trouble suing them for misrepresentations of material facts. May I ask why in the world would you hire or retain someone who can screw up or lie and not be held liable? Thankfully, the economy and the internet may be just the thing to get people to recognize that we DO NOT NEED realtors to buy and sell property. Get a lawyer, CPA and spend some time taking pictures and filling out your own forms. Get an appraisal and have an inspection done before you list the property. Go online and find our what similar properties are selling for in your area and you should be able to come close to a listing price which will bring in perspective buyers. Buyers you need to get prequalified and be ready to sign a contract with what you propose you want from the seller, so have a real estate attorney ready to represent you. So please tell me Mr. or Ms. Realtor just what is so hard about selling a property? I did it for over 30 years for myself and was also a landlord; meanwhile I held a fulltime job in the law and raised a family.
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EVeryone is always after the lowest bid and then ?
half assed workers , the list goes on all to get a Wal-Mart price for gold
only to get what you pay for !
Concerning real estate agents, you get what you pay for. Look at the agent's track record. Are they a high volume producer? Do they have the experience to represent you well at a closing? Does their office have the wide-spread exposure to represent your property well or as a buyer, do they really know what you have in mind? For a seller, a good agent will walk through the property and make recommendations to make your property more sellable. For the buyer, the agent will conduct a thorough interview to access your needs and select a few properties to see. A good agent can usually narrow the selection down to three or four properties. Some agents may be willing to negotiate on fees if you are willing to do some of the leg work. It's worth a try.
For home improvements, I like to try to do as much of the work as I am able myself. I know what is going into the project. For bigger jobs, I get permits. Besides being legal, I know the outcome will be safe. Some contractors may not pull permits or insist they don't need to. Beware! They may be doing substandard work.
Alyda, What do you do for a living? I’m just curious how useful or non-useful I may think your profession is.
Interesting how people think these are secrets. Any licensed Agent, Inspector, Contractor, etc. will disclose all this info up front. This is why you should interview a few professionals in the field for which you are looking for services. Referrals from friends or relatives who had a good experience with someone works great too. Usually the people who have bad experiences are the fools who are ALWAYS looking for a deal. I can hear it now, “Hey honey, let’s skip the Realtor and not have to pay a commission”, but FISBO’s typically sell for less, so now you lost money. “Hey honey, let’s skip the inspection to save money” only to find out the home has Mold after you move in! “Hey honey, let’s skip the Doctor’s appointment to save on the co-pay” only to end up in the ER when you think you’re having a heart attack due to your high cholesterol.
Funny how no one writes article title “How I sold my house by myself and sewer I will never do it again”!
OR “Maybe next time I’ll get my home inspected, because I passed on it this time”!
Oh, but that would mean people would have to say they were wrong! And no one can do that.
Lower their commission? So you think the agent will be working hard on your behalf for a lower commission? What if you walked inside your job one day and your employer said hey buddy, this guy right here wants to do your job for a lower salary. If you want your job still you'll have to start doing your job for lower pay. How would you react? You would tell them to go jump in a lake right? Well... ask me the same thing and guess where I tell you to jump? And any self deserving respectable agent will tell you the same.
I like this guy that said realtors are barely middle class. i havent seen many of them driving anything less than a navigator.
Good Article - I agree with most of what was written. I still do not understand the value a realtor provides - especially in the buying process. With the information available on the Internet (MLS Listings, Tax Records, Overhead images etc) there doesn't seem to be much more value a realtor can provide. Several realtors I've spoken with about what I'm looking for have gone back and entered only the very high level criteria into an automated search system, from which I get periodic E-mails from. Wow - working real hard for me there. In addition - as a buyers agent, realtors have a built in conflict of interest. The more I pay for the home - the more they make. I have a problem with that. As a sellers agent the are useful for holding open houses and taking some pictures, but other than that - $500 in lawyer fees can cover the same functions.
I also agree with what another poster wrote - every other market has had to cut profit margins to remain competitive. Funny how 6% is still demanded from almost every realtor you talk to.