All Forum Posts by: Chris Dee

 I didn't want any representation that is why I called the selling agent directly.  In my area seller agents are elated to work with buyers directly because they don't do commission split. He sent one of his teammates who then tried to establish herself as my buyer agent. After repeatedly telling her I wasn't interested (through email), she slipped in an exclusive buyer agreement into my offer, for 6 months for the all real estate in my state on and off MLS. That is not Ok on so many levels. BTW, as a seller agent they are required to give all offers to seller, unless specified in their agreement. I sent my offer through email with all of the terms and the seller agreed through email.  Since they aren't splitting the seller commission the least they can do is fill out docs (even though I can do that).  However, what has happened is that they want the the seller commission of 7% plus trying to scam an additional 3% and and exclusive buyer deal in order to be able to purchase this property.  Remember, my offer was accepted by the seller through email. So, the seller agent purposely destroyed the deal (by refusing the send buy sell agreement) because I won't commit to 6 months of exclusive buyer agreement (for the the entire state for 6 months). If I were the seller and knew about this, I would sue and win.

Thank you, Abel!

Thank you Abel, I have everything in writing. Will look up the MLS they are under. What about the State Real Estate regulatory body? Do they care?

Hi All,

I contacted the seller agent for a property I found on Zillow. The selling broker sent a buyer agent to show the property. I assumed this was the way they handle dual agency.  I made an offer and they verbally got it accepted by seller. When it was time to send me the buy sell agreement they tried to sneak in an Exclusive Buyer Agent agreement that commits us to pay them 3% buyer fee for any house in the state  that we buy for 6 months. I was shocked because I repeatedly told them we don't want them as our buyer agents. I said it was fine to be buyer agent on this specific property because we were dealing with a dual agency situation. When I told them we won't pay buyer fee they ignored our emails and never sent docs to sign for the offer that the seller already verbally confirmed.  I was emailing directly with the broker and I know this behavior is broker approved and mandated. So, I know what they did is unethical and they are required to submit all offers.  However, did they break the law? Also, what should I do from this point forward? I know who the sellers are and can contact them directly?

Thank you much,

Christina 

Yeah, trust is something to think about. Thank you for bringing it up. I was hoping there would be an easier solution :( 

Thank you David for your reply.

So, here are the goals for both sides:

Me/Buyer:

1. Renovate the property

2. Manage the property

3. Guaranteed possession at some point

Seller:

1. Mitigate capital gains tax 

2. Not miss out of the basis-step-up after death benefit

3. Stop managing the properties 

Also, maybe seller financing would work?

Hi Guys,

It's my first time posting here. So, please be kind :)  I am a buyer. I know a family with considerable real estate holdings who really want to offload the properties.  However, the parents are still alive (but sadly close to the end of life) so obviously the kids would lose the benefit of basis step-up if they sell prior to death.  Does anyone know a way to sell the property prior to death but not be hit with capital gains?  My thought was some kind of lease and option to sell upon death.  However, wouldn't that make me vulnerable if I make considerable improvement to property ? Anyway, any thought would be great.