All Forum Posts by: Bruce L.

Wayne Brooks So, the agent is willing to part with the commission, but is there a way to protect myself without having the broker involved? Like buyer's agent will pay for seller's real property transfer tax, title insurance, etc, as long as it's near $3k?

K. Marie Poe As far the cash, I had 3 cash offers, 2 of them were too low, the first one I accepted, but the investor decided to back out of the deal before DD. Philip is correct, I'm not desperate.

Just got the addendum in, I'm not sure I trust the agent, what do you guys think?

"Buyer agrees to pay the difference from appraised price of the property as the only additional amount being paid from buyer to seller. The $3k additional cash stated in the purchase agreement is to be credited to the seller from buyer's agents commission."

Thanks for the response guys!

Bill Gulley, contract price $150k plus additional $3k POC.

Troy Fisher Yes, this property is in Las Vegas. I got 26 offers in 4 days. Market is hot for properties in that price range. I listed $5k below market at $140k, appraisal came in at $145k, buyer to pay difference.

Wayne Brooks Traditional Sale, the EMD is $2,500 non-refundable after 10 days DD. I'm not sure why the buyers agent wrote the contract that way. I do know that the buyer was only approved for a loan amount of $127k.

Someone told me that I could try to reduce the buyer's agent co-op from 3% to 1.5%, but the agent's broker might come after me. Does anyone know anything about that? If true, I could make an addendum to have the buyers agent pay for all of my closing cost which is near $2,500, that way it still looks like I paid the agent the 3% co-op.

I'm selling a property and had it listed on the MLS, we have already opened escrow, completed home inspections and appraisal , and past due diligence period

The buyer's agent put in a purchase price of $150k, however under additional terms she put in "Buyer will pay $3k to seller at close of escrow. $3k to not be in the loan amount financed."

When i read that offer, I saw it as total purchase price of $153K. The appraisal came in at $145, so now the buyer wants me to drop the $3K.

The buyer agreed that purchase price is not contingent on appraisal, and the EMD is non-refundable, but wondering if his whole contract will be void because of the $3k outside of escrow.

Any advice?

Thanks.

So, I'm selling a house and on the contract, I stated the the EMD (Earnest money deposit) is to become non refundable once Buyer has approved due diligence of 10 days. There is also a statute in Nevada that states that a buyer has 5 days to review their CIC package or they can opt out of the deal.

Well, I emailed the agent all of the CIC package yesterday and also a form for the buyer to sign that states they have received the package. Well, of course, I haven't received that form back. The form is titled " Purchaser's Receipt of the Common Interest Community "Resale Package".

What should I do?

Do I really need that form sign as I heard most people don't sign that form here in Vegas.

Is my email log sufficient, so that when times comes to collect the EMD, the title co. will send me the check?

Thank Tiger,

I was reviewing all the docs I have from when I was buying homes in an HOA, and there was no formal form saying I received the packet. I guess it's a trust thing, but if ever challenged, I got my emails.

Thanks Robert,

I just ordered it last week.
How would I confirm the start of the 5 day period to review? Do I make a receipt for the buyers agent to sign saying that they received it?

I'm sure all would be fine, but I would rather be on the safe side in case the buyers agent says, we never got the packet or we got it on a later date.

Does anyone know how many days the buyer has to review the HOA / CIC Resale packet as part of their due diligence period in Nevada?

Also, is it possible for me to scan PDF the HOA packet instead of giving the buyer just in case they back out of the deal so that I wouldn't have to order another package?

Thanks.

I did a shortsale 3 years ago, my service provider was Wells Fargo and I just received a $1,000.00 check from Rust Consulting, Inc.

Has anyone else?

Just a quick update, I went ahead and countered the $165K 50% down buyer with $5K EMD non-refundable after DD, no appraisal, and the buyer got scared and decided not to go through with the deal.

So, I countered my cash offer with EMD non-refundable and the agent doesn't think that's gonna be an issue. I will know for sure by tomorrow.

Thanks for all the feedback!