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Updated about 2 years ago,
DIY Brokerage -- No Real Estate Agent
My next purchase will probably be made with a Homestyle Renovation Loan.
I agreed to pay the seller the appraised value seeing as prices have dropped a lot in my area.
However, the way this loan works -- the renovation costs are rolled into the mortgage; unless the final home value post-renovation, I have to come up with the difference.
To prevent that from happening, I wanted to negotiate the price down 6% by excluding the commission costs.
Either I get my license and forgo my commission and request that the seller goes unrepresented, or I find one of these "DIY Brokerage Companies" to save on the commission.
** Note: I realize that, in the former case, a broker will still take a cut. However, there are options which take a small fee, rather than a large cut of the buyers commission.
Does anyone know of good options?
Thanks in advance