What could I do that the listing agent couldn't do? - Posted by osirus

Posted by Ed Copp (OH) on March 23, 2000 at 18:02:59:

The kickback is different, unless of course you are a licensed real estate broker and the buyers broker is your associate. The waiting out of the listing is marginal (we all know it’s done regularly), but the question is did the buyer and seller come together because of the efforts of the real estate agent…it’s marginal. Now if the property has not moved for some time, on the market “you can” save the commission (and give it away to the new occupant). That sounds less than smart to me, and you can keep looking over your shoulder to see if you have been found out…ED

What could I do that the listing agent couldn’t do? - Posted by osirus

Posted by osirus on March 23, 2000 at 12:01:05:

There is a gorgeous move-in-condition house my buyer’s broker told my about.
It is 3/2 two story brick home located on cul-de-sac in an excellent area. The home has been on the market for at least 6 months. In fact, my buyers broker email me this morning saying that if it is not sold within the next two weeks they are going toent it out or do a sandwhich least option. Current ARV is about $125000. Asking price is $119000.

The LA’s comments say"Apparently previous owner had to owner fince to sell. That loan could be assumable. Current owner paid $94,000". I do not know if the loans assumability was disclosed to the general public. However, this indicates that they are willing to let a buyer assume their loan or offer other favorble termsThe oringinal loan balance is about $31000 (I checked at the court house).

How could I preform any better than the seller’s listing agent in reselling the house when the sellers have already offered terms, if I decide to purchase this house? Am I being overly cautious?

Re: What could I do that the listing agent couldn’t do? - Posted by eric

Posted by eric on March 23, 2000 at 13:42:57:

why not do the sandwich lease option yourself? The listing will expire in 2 weeks; wait for that to happen, then approach the seller about it. Offer them just enough to cover payments, and turn around and rent for as much more than you can, and enjoy the extra money every month. Kick back part of your renters’ deposit to your buyer’s agent for the info, and ask 'em if they know about any more like this. Before people start ranting about ethics, consider how this is any different then an agent giving you a list of expired’s. It really isn’t.

Re: What could I do that the listing agent couldn’t do? - Posted by Darin

Posted by Darin on March 23, 2000 at 13:32:37:

It sounds like you need more hard facts. If its been on the market for 6 months and under estimated value, why is it not sold yet???

—if it is not sold within the next two weeks they are going to rent it out or do a sandwhich least option. Current ARV is about $125000. Asking price is $119000

??? Do the current owners have title, bought on a land contract, or purchasing on a L/O???

It sounds as though you need to re vist the comps.

To me, it sounds like there is no room for profit. If they are having a hard time selling, what makes you think you can sell it quick.

If you can buy it right and the #'s will work in your favor, you can turn around and sell it on terms fairly quickly.

Get all your facts straight and dont jump in to fast until you at least re post with more facts and get some responces.

Remember, you do not need a realtor to sell on terms. It is so easy to make your phone ring with news paper adds when offering terms. You should be purchasing for 10-30% under and selling for 10-30% over value with terms.