You're an asshole.
Luckily, you're not MY asshole.
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Unless you hire your own.
This is key to understand in real estate.
The seller's agent does not work for you. They are paid when the sale closes.
"Your" buyer's agent does not work for you. They supposedly represent you, and are bound by a code of ethics which some take more seriously than others, but don't kid yourself--they are paid by the seller.... when the sale closes. By definition, they don't work for you.
There are but two people who can possibly work for you in a transaction: your attorney (whom you find yourself and pay flat rate) your inspector (whom you find yourself and pay flat rate)
If either of these were referred by a Realtor--be a little suspicious. Because if their counsel killed too many questionable/shady deals, you can be certain that they wouldn't be first on an unscrupulous Realtor's referral list. There are exceptions of course, but you tend to only find out you've got a lemon after it's too late.
-- Todd H.
We paid our inspector ourselves but the real estate agent recommended him.. yeah a mistake I know.
That depends ENTIRELY on the contract you agree to with them. And they are paid 'from the sale', not ' by the seller'. No sale, no comish. SO yeh, they have an interest in closing the deal, which is at odds with yours.
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Whose side of the closing sheet does that commission come off of? In both states I've done real estate transaction in at least, it's been off the seller's side of the closing sheet. So while the seller isn't cutting them a check and handing it to them, they are paying that buyer's broker commission.
But, I agree it's a minor point on top of the "from the sale" origin of the funding. The point remains simply that buyer's agency is really quite a misnomer, and you shouldn't trust your buyer's agent any farther than you can throw them. The quicker they get you to sign and close, the more $ they make for their time. Aside from the likelihood of repeat business and referrals from you, there isn't any incentive for them to steer you away from any listed property.
-- Todd H.
That's why there really are no true buyer's agents. But all it takes is one to start a revolution. I think a "buyer's agent" who was paid some percentage of the difference between seller's asking price and the actual sale price, would be in great demand. The more he or she saved homebuyers, the more he or she would earn.
Whose money is needed for there to be a deal ? The agent doesn't get paid in '3 % of a building' ( the sellers side of the value transfer )
Yep. Slice and dice it any way, but that's the bottom line - it's in their interest for that house to be sold, not to protect you from a mistake.
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that would appear to be better then the current situation that only serves to drive property prices up.
I seriously doubt the "Real Estate commission" is going to give him legal advice. (And isn't the "real estate commission" what the Broker gets paid, anyway?)
Reply to NG only - this e.mail address goes to a kill file.
Yeah, from DUMB BUYERS. What if the house was a great deal as listed? This Buyer's agent would not want you to buy that house. He/she would want you to bid on a house with an inflated price so that they can show you they got a lot off.
A BIG MISTAKE in buying real estate is to evaluate your deal by how much you will be getting "off". This only rewards those who inflate the asking price.
Which is a better deal, getting 10% of on a house priced at $250k, getting 7% off a house priced at $240k, or NOTHING off a house priced at $220k - if it was all the very same house? There is no objective price umpire setting asking prices. If you evaluate your deal based on asking price, then THAT is indeed foolish.
Reply to NG only - this e.mail address goes to a kill file.
But an even bigger mistake would be to assume that home prices aren't outrageously inflated in the first place.
Sorry, but the real estate scammers (i.e. - realty agents) are a dying breed, thank God. The internet will do them in, much like it has the legacy "major media".
Reply not at all; I don't want to read your screams of anguish.
Do it for yourself. It wont matter about having to disclose it to a future buyer because they are going to hire an engineer and he will tell them what is up. At least for now, you will know for yourself and have a chance to do something about it before something worse happens.
Isnt the engineering firm responsible at all for not seeing this? Could all of this have happened in the past few months?
Tony
Naw - the "real estate commision" (legislature, attorney general, etc. - even the BBB ) are the ones the Broker pays off to look the other way...
See Number 6 - The Real Estate Commission can provide "legal advice" at least to the extent of what the License Law and Commission rules require ...
Sorry, but that's not "legal advice". The OP's Q here is not "what are the Commission rules", it was more like "so how can I prove that the Seller knew about this". The Commission aint gonna give him step by step instructions on how to attempt that.
It would likely be something more like "XYZ law requires that conditions materially effecting value be disclosed if known; it you wish to file a complaint our rules require it be on Form ABC within X days/months/years of the occurance; do you wish to file a complaint"? That is NOT anywhere near the Q of "did they know and how do I prove it", on which they are NOT gonna give him advice and more than they would give the Seller advice on "the Buyer is claiming I knew about something that doesn't even exist, how do I get him to go away?"
Reply to NG only - this e.mail address goes to a kill file.
I have a similar problem with a house that I purchased recently: Cracking noises; drywall cracks and many window and doorway corners.
How do I find a good and appropriate engineer? What is the kind of engineer that I need called and where do I look? Yellow pages?
snipped-for-privacy@hotmail.com wrote:
Here structural engineers are listed under "Engineers-Structural" in the Yellow Pages.
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