Re: Selling a Home

Mistreatedbycs · ‎03-10-2010

There is so much more, as I get closer to the closing and when it's done I will spill everything.

Home Inspection: What a joke, whomever pays for the report is favored and the buyers agent tries to work everything for the buyer, oh it's end of life, oh it's old, oh it needs to be fixed etc. Of course these people are not buying a NEW home so it is a old home and things inside the home are old, that's a no brainer. Also, seller needs the right to cure, make sure you understand what that all means otherwise you'll mandated to fix. Make sure you read and understand the entire contract and it's terms BEFORE you sign anything. Realtor says, sign here and here and here.

and don't let your agent rush you, that happened to me, comes in and wants me to sign with all the amendments, counter the offers and actually RUSH you, make sure you understand how much time you actually have. I hate that they make you believe quick sign this, let's get this going, all high pressure from my own realtor and I'm at fault, I listened and didn't ask questions and felt pressured. Never again, ask questions and think, don't be desperate, that gets you no where.

.....and lock boxes on your house with or without you living there, it's terrible, I'd swear the combination was given out, stage your house, put things in a certain spot and make sure it doesn't get moved while you're gone. Can't remember, use your phone to take pictures, sometimes it's hard to remember what you did and didn't do and your mind plays tricks on you. Remember it's your money and don't let anyone bully you no matter how young or old you are, I felt bullied several times.

I have to do something like this 2 more times in upcoming years and I swear I'll be wiser and know where to go to get answers. I know I'll find a much better agent, I would go with a big company agency, I would interview people, I would do research on what they sold in the past, I wouldn't go by any reviews online, I can't even say I would go with a man or a woman, it doesn't matter the gender, it's the personalities. I wouldn't go with any "friends" or even have friends "recommend" anyone, that for sure would just split friendships apart. Even though you are out of school, there's homework to do and I would do everything upfront. Comps in the area don't mean a lot either, I know they say comp, comp, comp but I argued there isn't anything like what I own to compare it with. You can't compare a stucco house to a sided house, there isn't anything identical unless you live in a condo where they were all the built the same and that still doesn't make it identical, one may overlook a lake, the city skyline or anything like that. Stand up for what you have to sell, if you want x dollars and believe you deserve it, go for it, you can't go up you can only go down and don't do that either so fast.

My life has been turned up side down, haven't slept in weeks/months, worry if I'm doing the right thing, second guessing myself, and everything that goes along with it.

Thanks everyone for your support, unless something else is earth shattering, we'll give you more info after the closing.

novamc1 · ‎07-02-2015

I hate to interrupt-- with a few facts-- this rather heated conversation about how lazy, do-nothing, greedy and "automatically paid" real estate agents are. But I will point out a few things, knowing full well it won't change any minds around here.

1. When I take a listing, the only "automatic" thing about it is that it will cost at LEAST several hundred dollars out of my own pocket in the first week to get that property on the market with a bare minimum of initial marketing. This money will never be seen again unless I sell that property.

2. Once the property does sell, I also will never see, hear or get a referral from that seller again (which actually is key to any decent agent's success in the business) unless the seller is HAPPY. To make a seller happy and get the transaction to a successful closing, I have to try pretty hard to make sure there is a happy buyer on the other end of the transaction.

Real estate is supposed to be a win-win proposition for buyer and seller, but if negative attitudes, prejudices and refusal to be a little flexible get in the way, that outcome isn't very likely.

3. If people outside the real estate industry knew how much time it takes just to measure, research, and present legally necessary details about a property--as well as design costly but attractive printed brochures about it--, they would probably like to be paid for that time and materials themselves. Real estate agents do this just to get a house on the market, not to mention so many other fees and advertising expenses they have, which obviously no one here is interested in knowing about.

4. Being a seller is never easy. No one ever said it would be. I personally am lucky. I have had my own home under contract for several months with a builder who brought me a contract one day after I called him, asking if he was interested in waiting until we have to move out of state to a new home in September. I would not enjoy putting my home on the open market and having buyers walk through it at all hours, and I'm glad I didn't have to. I feel other sellers' pain. I've represented many of those pained sellers, but none of them seemed to be as unhappy as the people who are venting on this thread.

5. There ARE substandard Realtors out there. Your job as a seller is to get one you like and have confidence in. I'll bet your marketplace is full of experienced Realtors who won't make you feel like you're being taken to the cleaners.........but YOU have to recognize the challenges of dealing with some buyers, who are spending more money and staking their lives on something bigger and more scary than they have ever been involved with before.

YOUR job as seller is a get a backbone and refuse unreasonable and silly requests and not get upset when someone asks you to do more than you are willing to do. JUST SAY NO. But also be prepared for the consequences, whatever those might be, even if it means losing your buyer. The buyers are well-advised to do the same, even if they don't get the house. Somewhere in the middle, both sides can be happy.

novamc1 · ‎07-02-2015

@Mistreatedbycs

You said:

<<Home Inspection: What a joke, whomever pays for the report is favored and the buyers agent tries to work everything for the buyer>>

Yes, you have pretty much described the law that home inspectors and real estate licensees have to live under. A buyer's agent has a legal "client" relationship with the buyer, and the seller's agent has a legal "client" relationship with the seller. The seller and buyer each sign disclosure statements agreeing to these relationships.

It does no good to argue against the law, not to mention argue with a disclosure statement that you probably signed yourself when you listed your property with a licensed Realtor.

Mistreatedbycs · ‎03-10-2010

So you have a home inspection.....

Buyer pays......the furnace is end of life

Seller pays.....the furnace is fair

So whomever pays for the inspection is favored one way or another?

I'm learning just as anyone reading this, I haven't had any experience selling a home and although I have read numerous articles on realtor and zillow and googled many others, they, meaning the articles, doesn't tell you like it is. Most of the time they just dance around the subject, and I haven't read any real life experiences. I've talked to other people and if they sold their mom or dads home, they sold it as is and got what they got out of the house, it didn't appear they were concerned with what price, just getting rid of it and no effort was put into it.

novamc1 · ‎07-02-2015

@pieman

This statement by you made me chuckle.......

<<I'll give this agent 2 weeks, to see what she "doesn't" do..

Any agent willing to take a two-week listing isn't serious about selling your home, and neither are you. It will take her two weeks just to get a decent marketing program in place. Come on, now.....be realistic. Not only does that agent have to be someone you want to have at least a several months' long relationship with (just to get your home to closing).........YOU have to be someone the agent wants to spend those months with.

Sorry.......a dose of realism is needed here, even if my posts get poofed by the moderators.

Sunshine Kate · ‎03-10-2010

We have purchased a home without a realtor and it all went so smoothly and quickly. We had a home inspection and had a real estate attorney (a must have).

Sold my mom's home a few years ago, (over 50 year old home), and the buyer wanted so much stuff done it was laughable. We said no to everything and still sold it to the original buyer. They were just seeing what they could get out of us and we used a realtor.

ETA: What amazes me are the amount of people that want things fixed in a house before purchasing.

If it's a major problem, don't buy the house. If it's a minor problem, fix it yourself.

If you want nothing wrong with the house when purchasing, buy a brand new home!!

KALLIE · ‎02-17-2016

I sold my first house on my own many years ago. I sold my parents' home about 3 years ago (after remodeling, painting inside and outside, new landscaping, new flooring, new appliances, new kitchen and bathrooms) with a realtor who is a friend of the family. He was GREAT! He kept me informed of all that was happening. The house sold very quickly and ABOVE the listed price. He also reduced his commisssion. It was very easy.

151949 · ‎03-09-2010

While I admit to feeling very stressed when we sold our house I have to say that this OP is really being over dramatic here. Everything about selling a house is a negiotiation - if you don't want to either do the repairs the buyer requested or give them any money off then just back out of the contract. Simple. Find another buyer. If you don't like the realtor and feel you have cause to void the contract with her - fire her or just take the house off the market til the contract is up and use that time to find a realtor you can deal with. if you are anxious to get out NOW with this buyer then your going to have to play the game. But it is up to you - no one can force you to do anything or sign anything. You do though have to be a mature adult. Those contingency clauses in the sales contract can work for both sides. When our buyer gave us an 8 page list of things my DH just simply said no - it is not reasonable. We will find a different buyer. And guess what that 8 page list became a few small items to be easily repaired, and we proceeded on with the sale.

Mistreatedbycs · ‎03-10-2010

Overdramatic?

First, I've never marrried so it's me, myself and I. Although I have 3 of us you have actually a DH which forms a "team" and regardless of what's happening now with all this "woman" power stuff, the fact is that anyone will take advantage of a woman who is not supported by a man. Sorry to say, that's the way it is.

Also, when you do have someone, it's a lot easier, you have someone to discuss it with, makes things a lot easier and the two of you talk and normally he's the one that say's "No".

Please understand that I've never done this before, it's all new to me. Real estate agent contracts generally run 6 months from what I understand, who who of thought to fire him/her...who knew.

I guess all I'm trying to say is don't be bullied into doing something you might not be comfortable about and don't fall in that trap with agent comments like, I think you'll have a great chance of selling if you pay all the closing costs, pay for repairs, pay for what's on the list, pay, pay, pay.

Sorry, I'll be smarter next time.