Re: Buyer called my ad and they are - Posted by dewCO
Posted by dewCO on February 02, 2002 at 12:58:12:
No, the seller is responsible for the listing agent’s commission–not you. You are responsible to your buyer’s agent for their fee, if you go behind their back and buy this house.
Write your offer and see if the listing agent/seller can talk the lender on the first into taking less as a “short sale”(s) as their doesn’t appear to be any equity in this deal any way as it sits. You mgiht need to call the 2nd and buy it for little or nothing as they will be wiped out by the forclosing 1st and their is not enough equity in it for them, if your values are correct.
You might have a little chat with the seller to see when the listing expires! Then yes, you might have an opportunity to have the seller/owner “get it back” during redemption with YOUR money and they have already assigned their interst to you. Of course, they’ll want some of the money that you intend to make otherwise why would they do it? They’d have no reason to, as they’d already be left with nothing after the sale, so you’d have to give them a reason to let you BOTH get some $$ oiut fo the deal, but you have to make the 2nd go away fro little or nothing and then you’d have to cut your buyer’s agent in on some of it to—at least if you want to stay working with them. If you don’t wait and see if they find out later on and try to collect from you—of course they’d want their whole 2.8% then and might settle for less now, if you negotiate with them.