[jimmusik97]

wow. great posts. gotta love totv. we bought from a private owner just recently and now wondering if we got hosed.

[pivo]

Jim; Didn'y you check to see the prices the homes were selling for, the type,
the area. If you didn't how did you know you got hosed?

[manaboutown]

Originally Posted by jimmusik97

wow. great posts. gotta love totv. we bought from a private owner just recently and now wondering if we got hosed.

Didn't you get an appraisal?

[Barefoot]

Originally Posted by jimmusik97

wow. great posts. gotta love totv. we bought from a private owner just recently and now wondering if we got hosed.

You probably looked at similar homes in comparable Villages in the same price range as the one you purchased?
If so, hopefully you paid market value and didn't get hosed.

[Bonanza]

Originally Posted by manaboutown

Didn't you get an appraisal?

I'd be willing to bet that 99% (or more) of those who buy directly from an owner, don't get an appraisal.

By the time most Villagers make their purchase, they have a pretty good idea of the prices anyway.

[manaboutown]

Originally Posted by Bonanza

I'd be willing to bet that 99% (or more) of those who buy directly from an owner, don't get an appraisal.

By the time most Villagers make their purchase, they have a pretty good idea of the prices anyway.

If they paid cash they may not have needed an appraisal but in my experience lenders require them.

[cms36]

Hey all:

Is a commission to the buyers agent mandatory? I'm considering a fsbo on our house in VA and doing it to avoid paying anybody anything (besides closing). I need all the cash I can get, and have a hard time paying the same 6% to someone if they are selling a $800K house or a $200K house and they're doing the same amount of work.

I understand an agent can get more eyes on the property than I can but with Zillow, Craigslist, word of mouth, neighbors, Trulia, etc., and being in a hot market, do I really need to worry about agents?

[pivo]

If an agent brings you a buyer, you only pay her commision, about 2 points

[cms36]

That 2% is a done deal? Or is that something the buyers agent has to negotiate with me? Again my thoughts were since I can list the house myself so many places why do I need to worry about realtors bringing buyers?

[pivo]

When people go to a realtor to see houses, the realtor sees your ad , she will call you and ask if she can show your house, if you say yes and it sells you owe her a commission , or you tell her no 'm selling it on my own and she won't show your house.

But most buyers see the listings and will contact you.

[Bonanza]

Originally Posted by manaboutown

If they paid cash they may not have needed an appraisal but in my experience lenders require them.

Yes, lenders do require an appraisal.

They use their own appraisers and the buyer has nothing to do with it, although it is one of their "out of pocket" expenses.

[Bonanza]

Originally Posted by cms36

Hey all:

Is a commission to the buyers agent mandatory? I'm considering a fsbo on our house in VA and doing it to avoid paying anybody anything (besides closing). I need all the cash I can get, and have a hard time paying the same 6% to someone if they are selling a $800K house or a $200K house and they're doing the same amount of work.

I understand an agent can get more eyes on the property than I can but with Zillow, Craigslist, word of mouth, neighbors, Trulia, etc., and being in a hot market, do I really need to worry about agents?

If you want a Realtor to show your property, yes -- a commission is a necessity. There is no way around that. It can be 3%, or whatever you work out beforehand (in writing). Dealing with any agent is strictly up to you, but don't cut off your nose to spite your face. You will get far more traffic if you will cooperate with an agent. When you put out a sign you will get calls from agents. That's just the nature of the business.

I don't know the price of your house but I can tell you will that you will get considerably more traffic if your home is in the $200,000 price range. It stands to reason the percentage of people who can afford that is significantly higher than those who can afford to spend almost a million dollars.

I don't know how long you have owned your house or what you paid, but what you "need" has nothing to do with your house's worth. My advice to you is not to get greedy because if you do, you probably will be there a long time unless your property is in a really "hot" area for home sales. Don't price yourself out of the ball park.

[Debelg]

Just ******Under Contract*****
for sale by owner only took me 3 weeks
if I can do it, anyone can do it
just my 2 cents
Good Luck !!!!!!!!!

[beachx4me]

Well, wish me luck. I have listed my house FSBO in the newspaper and on TOTV. Thank y'all again for all the great advice.

[KathieI]

Originally Posted by beachx4me

Well, wish me luck. I have listed my house FSBO in the newspaper and on TOTV. Thank y'all again for all the great advice.

Good luck, beachie,,, keep us posted.