topic Re: Funny How Things Go Sometimes in Community Chat

Funny How Things Go Sometimes

pattypeep — Sun, 09 Apr 2017 19:42:35 GMT

My dh and I have owned property across the street from us for 10 years. Last night he finally agreed to list it. I was weeding our yard by the road this morning and a couple walked by with a darling labradoodle. Had to kootchie koo and all. Adorable. Anyway, long story short, they want the property. It's not even officially listed yet and no sign is up. Our realtor is drawing up a proposal and then they will meet with him. It's view property and really nice. My dh's mouth is hanging open as I write this. LOL

Re: Funny How Things Go Sometimes

Plaid Pants2 — Sun, 09 Apr 2017 19:47:40 GMT

It was ment to be.

Re: Funny How Things Go Sometimes

scatcat — Sun, 09 Apr 2017 19:48:13 GMT

Congrats! Skip the realtor as you found the buyer. Why pay a commission? Have a lawyer do the work

Re: Funny How Things Go Sometimes

Plaid Pants2 — Sun, 09 Apr 2017 19:49:11 GMT

@scatcat wrote:
Congrats! Skip the realtor as you found the buyer. Why pay a commission? Have a lawyer do the work

Skip paying a realtor, but pay for a lawyer instead?

Re: Funny How Things Go Sometimes

Azcowgirl — Sun, 09 Apr 2017 19:50:25 GMT

Congratulations ! Similar thing happened to us, we had land in another state and out of the blue, someone called and offered a good price for it and we didn't even have it on the market. Twice we had homes sell the first day they listed. Crazy things can happen with real estate!

Re: Funny How Things Go Sometimes

scatcat — Sun, 09 Apr 2017 19:51:46 GMT

@Plaid Pants2 wrote:
@scatcat wrote:
Congrats! Skip the realtor as you found the buyer. Why pay a commission? Have a lawyer do the work

Skip paying a realtor, but pay for a lawyer instead?

You're going to need a lawyer for the closing anyway. Let's just say the lot is $100k. At 6% commission that's $6k. A lawyer is no where near that price. So yes, pay a lawyer instead or draw up the contract yourself

Re: Funny How Things Go Sometimes

hoosieroriginal — Sun, 09 Apr 2017 19:59:45 GMT

@Plaid Pants2 wrote:
@scatcat wrote:
Congrats! Skip the realtor as you found the buyer. Why pay a commission? Have a lawyer do the work

Skip paying a realtor, but pay for a lawyer instead?

@Plaid Pants2 - an attorney can draw up a simple contract - the real estate person will want a commission on the full payment price.

Re: Funny How Things Go Sometimes

chickenbutt — Sun, 09 Apr 2017 20:00:55 GMT

Yay! Congrats. That's great.

I also do agree about, since you hadn't listed it yet anyway, bypassing using a realtor/broker. We have purchased property directly with a mortgager before and everything was legal - no attorney needed.

Re: Funny How Things Go Sometimes

chrystaltree — Sun, 09 Apr 2017 20:24:07 GMT

It was just meant to be.

Re: Funny How Things Go Sometimes

Moonchilde — Sun, 09 Apr 2017 20:41:16 GMT

How fabulous that it was so easy for you and DH, and you'll have new neighbors you'll probably be friends with.

Re: Funny How Things Go Sometimes

Kitlynn — Sun, 09 Apr 2017 21:51:18 GMT

I love it when a plan comes together and how wonderful for you and them! When we sold our house it was a done deal in fourteen hours after going on the market. Three couples came to look at it and al three of them wanted it. It was shocking to us how fast it all happened!!

Re: Funny How Things Go Sometimes

Kachina624 — Sun, 09 Apr 2017 22:36:21 GMT

@scatcat wrote:
@Plaid Pants2 wrote:
@scatcat wrote:
Congrats! Skip the realtor as you found the buyer. Why pay a commission? Have a lawyer do the work

Skip paying a realtor, but pay for a lawyer instead?

You're going to need a lawyer for the closing anyway. Let's just say the lot is $100k. At 6% commission that's $6k. A lawyer is no where near that price. So yes, pay a lawyer instead or draw up the contract yourself

Since you found the buyer, I'd just pay the realtor a reduced commission for doing the sales paperwork. That's how I bought a house once. I bought directly from the owner and paid a realtor 3% to do the paperwork. I've never had a lawyer involved in a real estate sales transaction.

Re: Funny How Things Go Sometimes

Kachina624 — Sun, 09 Apr 2017 22:38:17 GMT

@BeccaLou wrote:
@Plaid Pants2I agree with scatcat1. You can save so much money doing the sale yourself. Have they been inside? And do you think they will want an inspection? Just put up $100.00 warranty, that covers everything, or do a as is sale. That is all that takes place by a realtor. I've sold by myself and saved so much money not giving a commission away.I'll Pray for you continued efforts.

@BeccaLou I don't think you need much of an inspection on a lot. Read the OP's statement.

Re: Funny How Things Go Sometimes

itiswhatitis — Sun, 09 Apr 2017 23:53:06 GMT

@Kachina624 wrote:
@BeccaLou wrote:
@Plaid Pants2I agree with scatcat1. You can save so much money doing the sale yourself. Have they been inside? And do you think they will want an inspection? Just put up $100.00 warranty, that covers everything, or do a as is sale. That is all that takes place by a realtor. I've sold by myself and saved so much money not giving a commission away.I'll Pray for you continued efforts.
@BeccaLou I don't think you need much of an inspection on a lot. Read the OP's statement.

@Kachina624, yeah testing should be done. Who pays for it is another matter that can be worked out in the contract. Soil samples for radon and other hazards and that kind of science is good to know for purchasing land especially if it will built upon.

Re: Funny How Things Go Sometimes

hckynut — Mon, 10 Apr 2017 02:22:04 GMT

@pattypeep

Good for you. Meeting a nice dog and buyers at the same time? Can't beat that.

The only property we have is what we are living on right now. Never been into investing my money in anything, property or otherwise. Ain't willing to gamble with my hard earned money, and regardless of what my fellow city dweller, Mr. Buffett has to say? I will stick with the old "bird in the hand is worth more to me than a possible 2 in the bush".

Love it here and have no plans on selling.

hckynut(john)

Re: Funny How Things Go Sometimes

sandraskates — Mon, 10 Apr 2017 02:36:25 GMT

If you have not yet signed with the listing agent and agreed to a commission yet, I would suggest negotiating that commission down to about 1/2 (2.5 - 3%).
You've saved the agent time and money as they don't have to do multiple showings and they don't have to create any promotional items. You can frame the conversation in that manner.

I have done that in the past with a house I once owned, in a very similar scenario.

Re: Funny How Things Go Sometimes

mamaslittlepotatoe — Mon, 10 Apr 2017 03:42:57 GMT

I hope you didn't sign up with a realtor yet although it sounds like you did. Like others said, you only the lawyer, not both.

Re: Funny How Things Go Sometimes

pattypeep — Mon, 10 Apr 2017 11:47:52 GMT

@hckynut I will agree with your point; however, we bought it because it was an eyesore and ruined the neighborhood. It had been a rental for years and was let go to the point that we hated looking out our window. When it got listed, we jumped on it and tore the house down and cleaned up the lot.