Quote:
Originally Posted by billsr
Please go online and research the legal pros and cons of your decision to use the Seller's Broker.
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A buyer reviews his pros and cons, in the end, he decides IF he wants a buyers agent.
Two Examples:
1. Suppose a buyer is not against remodeling to get a good price on the home. Who is better to use? A home inspector or someone in construction who can tell him the actual costs of the remodel. Or, a buyers agent who will only tell you "Yeah, that should be easy to fix." Let's close the deal and pay me $10,000. The home inspector's charge would be much less and their information more valuable.
2. A buyer has looked at many homes in the area. He is quite aware of the prices being asked. He finds a comparable home that he likes in that price range. Why does he need a buyers agent? It's highly unlikely that agent is going to get a significant price reduction. He is just going to tell you, "That's a fair price. I think you should buy." The buyer ALREADY KNEW it was a fair price. Do I need to pay the agent $10,000 to tell me that?
There are pros and cons on BOTH sides. A buyer has the CHOICE to decide which is best for him.
Anyone stupid enough to give out his financial standing should expect to be embezzled. When I buy a home, I give a letter from my bank stating I have the funds. No other financial information is provided. I also use a real estate attorney to handle the paperwork. Their fees are about the same as a title company but with more to offer.