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Updated almost 11 years ago,
RedFin experience. Am I being unreasonable?
Hi,
I'm a newbie, who is closing on his first home (personal residence). I am using RedFin as a buyer's agent, as I was enticed by the money back (lower buyer's commission) towards my closing costs.
Background:
The property in question was a single family detached suburban as-is home in MD. The seller was asking $330k.
1) When I asked the agent about what price to bid, she came up with $310k, telling us that we should meet in the middle. When I asked her how she came up with that price, she told me that it was a sellers market so she arrived by working back from asking price. It was my mistake to not fire her at that point. Instead, I asked her to prepare comparative price analysis based on recently sold, recently under contract and current listings. Only at that point, she went and did the analysis, which lead us to the final contract price of $300k.
2) As we were newbie about the process, we initiated both home inspection and appraisal process at the same time. Home inspection led to some issue. When we tried to negotiate, we learned that our walk-away costs were both the cost of home inspection and home appraisal. If we had waited to order home appraisal after home inspection, our walk-away costs would have been lower.
3) After negotiation, when we removed the home inspection contingency, I realized that I had not seen the written termite inspection report. When I asked my agent, why did she let us negotiate, she tried to hide behind the fact that this is an as-is house. Luckily, termite report came clean.
I'm not sure if it is the agent-specific experience or RedFin experience, but I was quite disappointed with them. Am I being unreasonable? The first mistake would have cost us $20k, luckily, I did some homework which avoided that.
I'd like to get thoughts from experts on this. I keep getting the nagging feeling that, with a better agent, I could have saved another 10k.