Posted by qstaff on August 12, 2003 at 22:56:10:
I concur with Ed Copp 100%.
Motivated Seller!! - Posted by Derrick
Posted by Derrick on August 12, 2003 at 15:45:01:
I am currently living in PA. I have just been made a job offer in VA. I am living in a house that I paid 95K for about 3 yrs ago. I put house on market about a year ago (for 3 days) and had 3 full price offers - so there are buyers out there.
But, I would like to avoid paying broker commissions. Is there a way around these fees through creative seller financing?
Thanks in advance for your help.
Derrick
Re: Motivated Seller!! - Posted by WaynePa
Posted by WaynePa on August 12, 2003 at 22:02:15:
Derrick,
Where in Pa. are you located? I’m in Northeastern Pa. if I could be of any assistance just let me know.
Re: Motivated Seller!! - Posted by JohnBoy
Posted by JohnBoy on August 12, 2003 at 20:57:12:
Why would you need to offer creative financing? Why not just sell it to a retail buyer? You don’t need a realtor or broker to sell your house. Just sell it and have your attorney handle the paper work and closing. The attorney will cost several hundred vs. paying 6% - 7% to a broker, which you still would have to pay an attorney to handle your closing.
If your market is that hot you shouldn’t have a problem getting a buyer right away. We use creative seller financing when the market is slow in order to find a buyer fast. In a hot market you should be able to just sell it out right.
All a broker does is list your house and finds you a buyer. If your market is hot you don’t need a broker. Just use an attorney to handle your contract and closing. If your market is not that hot where finding a buyer will take time, then offer seller financing to find a buyer faster. Otherwise use a realtor to help find a buyer faster if you want to just be done with it.
Re: Sell it yourself - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on August 12, 2003 at 20:16:37:
But be aware of a few things.
The buyers that offered a year ago are not there now. They purchased something else.
The brokerage commission that you wish to save, does not go away. All buyers also want to save that commission, did I say ALL buyers? So there is now some competition for the commission.
What often happens is that the seller reduces the price of the property by the commission (or more), then passes that savings on to the buyer while working thier backside off to get the deal done, often with a sub standard buyer.
There are a lot of other problems with selling a house that we own, not the least of which is an emotional attachment to the house. Most of us don’t think that would apply to us. Most of us are wrong.
Re: Motivated Seller!! - Posted by Scott PA
Posted by Scott PA on August 13, 2003 at 20:19:08:
Where in Northeastern PA are you?