All Forum Posts by: Angelo Aguirre

@Nick Rutkowski, That's a good point, no matter what, in the end if both parties agree there should be no problem. I appreciate you taking your time to respond. Thanks!

@Alissa Engel, That's a perfect explanation. Being new, I am not sure of the lines between realtor-seller relationships and when roles can change. But, offering the seller a price that nets them the same dollar amount, and when fully disclosed as an investment property, it is hard for the seller to build a case against them, or anyone in this situation. I completely agree, the 2nd mortgage is 100% on the seller. No one else. My general questions were about realtor roles/responsibilities/fiduciary responsibilities (and when those stop). But your answer makes complete sense and I totally agree! As long as a seller accepts an offer, any other circumstances that arise (2nd) is only the seller's responsibility. Thank a ton for your response!

@Account Closed, thanks for your reply. I does sound normal when you explain it that way. Thank you!

@Josh C., I'm glad you checked with this realtor/buyer to confirm that they didn't plan on having original buyers do inspection. Original buyers did not back out, they failed to close due to financing. Realtor also reasoned that she could not negotiate on price because the SFR ‘apprised' lower when calculated as a rental. Correct me if I'm wrong please, only commercial RE can be appraised based on rents and income generated, SFR appraisals are only based on what the market will pay, income is irrelevant.

@Wayne Brooks, I think my overall question is the realtor became a "buyer" somewhere in their relationship. If I wanted to be the realtor that obtained information (ie conditions of the house, results of inspections, appraisals, personal information of seller - seriousness of sale, desperation of sale, and so forth) for free at the expense of a different, ultimately un-bankable buyer, and then make my own beautiful contingency-free offer, when can I do that? Right when we list it? 

@Theresa Harris, thank you, I appreciate your feedback!

@Theresa Harris, Agreed, no one's fault but the seller's about the 2nd mortgage. I do believe some of your points are not accurate. It could have been my explaining initially. The final sales price offered from the realtor was the lowest of three: (1) Conventional -$221K (2) MLS Cash Offer - $210K (3) Realtor's (now turned investor) no contingency offer - $198K.

The realtor was able to show seller on paper how he could net the same by selling it to her cash and saving all of the closing costs, commission costs, so forth. 

The question is, when bound by fiduciary obligations, when should a realtor present the seller with a scenario that actually benefits the realtor, as in this case? And to refuse to negotiate on the price because it's not in the best interest of the realtor? 

@Russell Brazil, you're right, title companies do. 

@Russell Brazil, you're right. Title companies do. In my case, my realtor was easily able to ask the title company we were going to use, referred by her (same case in this example), so she had access to this information, instantly. Which is my question, if the realtor could have access to the info, why didn't she? The net sheet used in her proposition left out information easily obtainable by her in her profession as a real estate agent. Common practice? 

@Russell Brazil, I don't think the seller was denying owing it, I just don't think it was considered by either party. That does lead to a further question (I'm not a realtor so excuse the ignorance), does a realtor have any obligation to do a title search prior to closing? Or is that more of the seller and mortgage company's side of things to discuss and figure out? I only ask because my agent, representing me during a sale, did a title 'scoop' for me before having an offer, just to make sure I knew what I was paying off and what I was going to net. Again, not sure if this was just above-and-beyond work from my realtor or if that is industry standard.

As a realtor, have you ever purchased an asset in this fashion; going from realtor - to - investor negotiations? 

Thanks for the reply!