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How do you put a bid on a house?
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Kara
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Member since 3/07 13217 total posts
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Re: How do you put a bid on a house?
Posted by Goobster
I still don't get it!!
Let's say I see a house on MLS and another RE agent takes me to see it (not the sellers agent/listing agent).
Who is the person who took me (buyer's agent?)? And are you saying I would have to pay a comission to them as well?
Who on Earth would do this? Why not just call the listing agent directly?
I am lost now.
I guess *technically* it's a broker's agent... but around here, most people just call them buyer's agents. (My attorney does, as do her parents who own one of the biggest real estate companies on LI)
Don't worry about it. If you've got a RE taking you to see houses on LI that are listed on MLS, you 're not going to be paying him or her a fee. If they ask you for one when you first meet with them, find someone else.
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Posted 9/21/07 9:08 AM  |
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SweetTooth
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Member since 12/05 20105 total posts
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Lauren
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Re: How do you put a bid on a house?
Posted by Goobster
I still don't get it!!
Let's say I see a house on MLS and another RE agent takes me to see it (not the sellers agent/listing agent).
Who is the person who took me (buyer's agent?)? And are you saying I would have to pay a comission to them as well?
Who on Earth would do this? Why not just call the listing agent directly?
I am lost now.
The person who took you is not a buyer's agent unless you signed a contract with him/her retaining that person as a buyer's agent.
That agent should have had you sign a disclosure form that says you are aware that him/her is working in the interest of the seller. What this means is that anything you tell this agent about your situation (your max. spending amt, your credit, etc.) can be told to the listing agent who in turn can tell the seller. That agent cannot tell you anything about the situation of the seller - why they are selling, min. price they will accept, etc. That agent also cannot give you advice - like how much to offer on a certain house. Had you signed a contract making this agent your buyer's agent - then that agent would be working for you - so the listing agent would not tell your agent any info about the seller - and any info about you would not be told to the listing agent.
Really, these are all the nuances of the different terms in the legal aspect of real estate. You can call the agent who helps you your buyer's agent, but technically this agent is the seller's agent unless you signed the buyer's agent contract.
Does this make any more sense?
This doesn't mean if you get the help of a RE to find a house that they will be scamming you or intentionally trying to harm you - they will send you listings, show you homes - they just can't do anything that might hurt the seller's chances of selling for the highest price possible.
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| Posted 9/21/07 10:19 AM |
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| Pages: 1 [2] |
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