Closing day walk through

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  #31  
Old 05-01-2019, 12:24 AM
Midnight Cowgirl Midnight Cowgirl is offline
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Quote:
Originally Posted by retiredguy123 View Post
Real estate agents DO NOT represent buyers. They only represent sellers. They may have a fiduciary duty, but they do not represent you as a buyer. I would not rely on a real estate agent to conduct a walk through on your behalf, as a buyer. Attend yourself, or get someone else to do it.

Sorry, but you are wrong -- dead wrong!

Some agents DO represent the buyer and that's why they are called a "Buyer's Agent."

Then there are "Transaction Brokers" who show no fiduciary to either the buyer or the seller, but must, by law, handle the transaction fairly for both parties.

An agent can also represent the seller. You really need to know what the differences are before you give out erroneous information.
  #32  
Old 05-01-2019, 02:55 AM
retiredguy123 retiredguy123 is offline
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Originally Posted by manaboutown View Post
In the last section of your link, it says that the buyer pays no money to the buyer's agent. My point is that, if the buyer pays nothing to be represented, then he/she has no legal representation or the right to take any action against the agent for misrepresentation because there is no legal contract. Also, I have not seen any of the buyer's agency agreements, referred to in the link, ever offered or used in The Villages. I know several real estate agents, and they all say that they represent the seller. Has anyone ever signed a buyer's agent agreement?

Last edited by retiredguy123; 05-01-2019 at 05:42 AM.
  #33  
Old 05-01-2019, 06:06 AM
EricN EricN is offline
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Default Walk through...

Quote:
Originally Posted by Velvet View Post
How important is closing day walk through on resale house? What can you do if you can’t be there for some reason?
Always do a walk through. It protects you from any surprises, as other posters have mentioned. You can have your Real Estate agent do it for you, as long as they know what to expect to see. You would need to take your agent on a walk through, prior to closing, so that they can see the property in the condition that you expect to receive it.

Please understand that there are 3 "types" of agents.

Sellers Agent: They represent the best interest of the Seller. Their fiduciary requirement is to the Seller. The will assist you, the Buyer, with the purchase, in the Sellers best interest. This is usually the agent you meet at an Open House. They are paid by the Seller.

Buyers Agent: They represent the best interest of the Buyer. Their fiduciary requirement is to you, the Buyer. The will assist you with the purchase, operating on your behalf. This is usually the agent you call and ask them to show you various homes. They are paid by the Sellers Brokerage Agency.

Dual Agency: In some states, if the agent represents both the Buyer and Seller, it is known as Dual Agency. The agent now has to be fair to both sides, but the fiduciary requirement is now towards the legal fulfillment of the sales contract. Personal interest or requirements of either the Buyer or Seller may, or may not, always be considered. They are paid by the Seller.

Many states require the agent to disclose to you, in writing, an Agency Disclosure that tells you who they represent. You should get this up front, before starting any transaction.


You can chose how you wish to go forward. Most transactions go smoothly with the Sellers agent assisting the Buyer. People usually only post the bad ones. You have the freedom to make you own choice. Just know your options.

Cheers!
  #34  
Old 05-01-2019, 06:10 AM
baustgen baustgen is offline
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Hire Frank DiAngelo to inspect the property. He found 9 items for the builder to fix on my New house. Best $300 I ever spent.
  #35  
Old 05-01-2019, 09:30 AM
thetruth thetruth is offline
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Default Re: Copper stripped from a home

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Originally Posted by Jazuela View Post
They did it because of the copper piping. Worth a small fortune at the time. They absolutely gutted the place to get the metal.
I am a pack rat. When we got ready to sell our previous home, I had significant qualities of copper etc. If, I recall scrap copper was like $3,00 a pound. Our home had copper leaders and gutters on it. Frankly we recently looked at pictures on Zillow of our home we sold five years ago. The people who bought is obviously have put a lot of money into it. They must have hired someone to put new leaders and gutters on the home. They are now the thin aluminum that we all have here. I doubt the contractor told them what the scrap value was for the copper leaders and gutters.
  #36  
Old 05-01-2019, 09:37 AM
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I used the advice given in these threads at TOTV. DiAngelo told me how to proceed, the listing agent did the walk through and she FaceTimed me. I looked for what the home inspector told me to. I could see for myself everything I wanted to. The listing agent, realizing I was new to buying a house in Florida also suggested and put in a warranty clause for one year for me. The escrow company, Freedom Title, was beyond professional. To avoid email scam I asked them to mail me all documents to my current house. They were also picked up at my house and returned to escrow. I could not be happier with how the remote closing went through.
  #37  
Old 05-01-2019, 09:50 AM
thetruth thetruth is offline
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Default Well stated

Quote:
Originally Posted by EricN View Post
Always do a walk through. It protects you from any surprises, as other posters have mentioned. You can have your Real Estate agent do it for you, as long as they know what to expect to see. You would need to take your agent on a walk through, prior to closing, so that they can see the property in the condition that you expect to receive it.

Please understand that there are 3 "types" of agents.

Sellers Agent: They represent the best interest of the Seller. Their fiduciary requirement is to the Seller. The will assist you, the Buyer, with the purchase, in the Sellers best interest. This is usually the agent you meet at an Open House. They are paid by the Seller.

Buyers Agent: They represent the best interest of the Buyer. Their fiduciary requirement is to you, the Buyer. The will assist you with the purchase, operating on your behalf. This is usually the agent you call and ask them to show you various homes. They are paid by the Sellers Brokerage Agency.

Dual Agency: In some states, if the agent represents both the Buyer and Seller, it is known as Dual Agency. The agent now has to be fair to both sides, but the fiduciary requirement is now towards the legal fulfillment of the sales contract. Personal interest or requirements of either the Buyer or Seller may, or may not, always be considered. They are paid by the Seller.

Many states require the agent to disclose to you, in writing, an Agency Disclosure that tells you who they represent. You should get this up front, before starting any transaction.


You can chose how you wish to go forward. Most transactions go smoothly with the Sellers agent assisting the Buyer. People usually only post the bad ones. You have the freedom to make you own choice. Just know your options.

Cheers!
I expect the author is a broker or sales agent.

As a buyer, most of us are way outclassed. Most of us do not buy and sell anything in the price range of a home on a regular basis.

Add to that that you are riding around with an agent who works for the seller. You are lulled into forgetting that the person driving the car is working for the seller. Usually you do not make the decision alone. Your significant other is there, your kids etc. You see a house. You say, forgetting it is NOT PRIVATE.
Lets offer xxxxxx if we have to we can go up from there. Of course the agent, who works for the SELLER would never say to the seller they are offering xxxxxxx but I think they will go up from there.

Experience years ago-not in Florida. At the time, the resale market stunk. We made a written offer on a home. We later discovered that the home was sold for less than our offer.
I called the ETHICS board for brokers. They wanted ME to appear for a hearing. Fines damages etc. I asked and was shocked by the answer as to who gets any fines, damages etc.
It goes to their group. Not to the buyer, the damaged party.
  #38  
Old 05-01-2019, 09:56 AM
retiredguy123 retiredguy123 is offline
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Originally Posted by thetruth View Post
I expect the author is a broker or sales agent.

As a buyer, most of us are way outclassed. Most of us do not buy and sell anything in the price range of a home on a regular basis.

Add to that that you are riding around with an agent who works for the seller. You are lulled into forgetting that the person driving the car is working for the seller. Usually you do not make the decision alone. Your significant other is there, your kids etc. You see a house. You say, forgetting it is NOT PRIVATE.
Lets offer xxxxxx if we have to we can go up from there. Of course the agent, who works for the SELLER would never say to the seller they are offering xxxxxxx but I think they will go up from there.

Experience years ago-not in Florida. At the time, the resale market stunk. We made a written offer on a home. We later discovered that the home was sold for less than our offer.
I called the ETHICS board for brokers. They wanted ME to appear for a hearing. Fines damages etc. I asked and was shocked by the answer as to who gets any fines, damages etc.
It goes to their group. Not to the buyer, the damaged party.
I agree
  #39  
Old 05-01-2019, 09:57 AM
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Default Good to hear

Quote:
Originally Posted by Velvet View Post
I used the advice given in these threads at TOTV. DiAngelo told me how to proceed, the listing agent did the walk through and she FaceTimed me. I looked for what the home inspector told me to. I could see for myself everything I wanted to. The listing agent, realizing I was new to buying a house in Florida also suggested and put in a warranty clause for one year for me. The escrow company, Freedom Title, was beyond professional. To avoid email scam I asked them to mail me all documents to my current house. They were also picked up at my house and returned to escrow. I could not be happier with how the remote closing went through.
As someone else said with most things people tend to report bad. Most things go well and people being people do not report it.
HAPPY DAYS
  #40  
Old 05-01-2019, 09:58 AM
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Quote:
Originally Posted by retiredguy123 View Post
In the last section of your link, it says that the buyer pays no money to the buyer's agent. My point is that, if the buyer pays nothing to be represented, then he/she has no legal representation or the right to take any action against the agent for misrepresentation because there is no legal contract. Also, I have not seen any of the buyer's agency agreements, referred to in the link, ever offered or used in The Villages. I know several real estate agents, and they all say that they represent the seller. Has anyone ever signed a buyer's agent agreement?
Who pays has nothing to do with it. Actually, an agent's earnings normally come out of the proceeds from the sale. This is the case for sellers' agents, buyers' agents and transactional agents. If a buyer has a buyer's agency contract with a real estate agent that agent works for the buyer and is legally obligated to represent the buyer, not the seller. A buyer may of course separately hire and pay an agent.
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  #41  
Old 05-01-2019, 10:00 AM
Bogie Shooter Bogie Shooter is offline
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Originally Posted by Midnight Cowgirl View Post
Sorry, but you are wrong -- dead wrong!

Some agents DO represent the buyer and that's why they are called a "Buyer's Agent."

Then there are "Transaction Brokers" who show no fiduciary to either the buyer or the seller, but must, by law, handle the transaction fairly for both parties.

An agent can also represent the seller. You really need to know what the differences are before you give out erroneous information.
So there!
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  #42  
Old 05-01-2019, 10:05 AM
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Quote:
Originally Posted by Velvet View Post
I used the advice given in these threads at TOTV. DiAngelo told me how to proceed, the listing agent did the walk through and she FaceTimed me. I looked for what the home inspector told me to. I could see for myself everything I wanted to. The listing agent, realizing I was new to buying a house in Florida also suggested and put in a warranty clause for one year for me. The escrow company, Freedom Title, was beyond professional. To avoid email scam I asked them to mail me all documents to my current house. They were also picked up at my house and returned to escrow. I could not be happier with how the remote closing went through.
My daughter and I in separate property purchases have used a buyer's agent to do the walkthrough using FaceTime. If a person is out of state or out of the country one may have no choice. In each case everything came out fine. Of course, if at all possible a buyer should personally do the walkthrough.
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  #43  
Old 05-01-2019, 12:33 PM
retiredguy123 retiredguy123 is offline
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Originally Posted by manaboutown View Post
Who pays has nothing to do with it. Actually, an agent's earnings normally come out of the proceeds from the sale. This is the case for sellers' agents, buyers' agents and transactional agents. If a buyer has a buyer's agency contract with a real estate agent that agent works for the buyer and is legally obligated to represent the buyer, not the seller. A buyer may of course separately hire and pay an agent.
Yes, it does. It's not true that a buyer can enter into a contract with an agent to legally represent them, unless the buyer agrees to pay money to the agent. That is basic contract law. It is not a contract unless both sides provide some type of compensation. I don't know of any real estate agents who offer to represent buyers on a legal basis and to require the buyer to sign a legally binding contract. That is because they represent the seller through the listing agreement, and to represent the buyer would be a conflict of interest. Post No. 37 explains this very well.
  #44  
Old 05-01-2019, 12:43 PM
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Quote:
Originally Posted by retiredguy123 View Post
Yes, it does. It's not true that a buyer can enter into a contract with an agent to legally represent them, unless the buyer agrees to pay money to the agent. That is basic contract law. It is not a contract unless both sides provide some type of compensation. I don't know of any real estate agents who offer to represent buyers on a legal basis and to require the buyer to sign a legally binding contract. That is because they represent the seller through the listing agreement, and to represent the buyer would be a conflict of interest. Post No. 37 explains this very well.
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Last edited by manaboutown; 05-01-2019 at 12:51 PM.
  #45  
Old 05-01-2019, 12:43 PM
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Originally Posted by Bogie Shooter View Post
So there!
Can anyone suggest a licensed real estate agent who will represent me as a buyer's agent, and who will accept no money at closing from the seller's side of the closing statement?
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