All Forum Posts by: Jeffrey K.

You can go to Uhaul or another rental company and they sell old trucks and vans at very affordable prices. Be careful as many people abuse these vehicles as they are rentals (we know this from or our jobs).

I wrote an offer with him months ago on this property. My lawyer and I agree that he is entitled to the commission. The problem now is that the listing broker claims that she refuses to pay it in the event of a sale. She says that I will have to pay it out of my pocket. It is not a huge sum of money, but I am upset this is getting in the way of the offer. Coldwell Banker-foremost of Waterford, WI, is a very difficult agency to deal with. If you ever do business with them, buyer beware of a broker who uses personal attacks and other unprofessional tactics if you write her an offer that in some way might make her commission more complicated. I want everyone to get compensated for their work, but do not want to loose sight of THE PROPERTY IN QUESTION. This lady has withheld submitting the offer until she gets her commission figured out. Very unprofessional.

Thanks a lot for all of your help.

Thank you for your advice*

That you for your advice. I will ask for a BPO when I write the next offer. To clarify, I did not think I was going to save an extra 3%, my only point is, if I am not represented the listing agency gets to keep the whole commission which could make them more inclined to push their client. I do not negotiate on this assumption. I am even lowballing these people. I am willing to pay what I feel is market value. The bank, unfortunately, created their list price based on what they had into the property. And yes, my last agent was incompetent. That is why we parted ways. To my surprise, it is hard to find a good agent who is used to dealing with investors in the Milwaukee area. I have had two agents, one incompetent, and the other paid no attention to me. He was only interested in 5 million dollar projects. I make it very clear that I plan to, and have the funds to purchase multiple properties, but this did not keep him around. Any advice on finding an agent.

Real estate investor is fine. I am also new to the business and no one has ever had a problem with that designation. It is mindset in addition to being a job.

UPDATE: Things are not going so well. I got a call from my old agent this morning because the listing agent had called him per her "code of ethics" to inform him that I had written another offer three months later. I have not heard a peep from this guy for months and he decides to call me today to tell me that he is working out how he is going to receive commission on this deal he let die months ago. This has caused the two brokerages to talk back and forth and I am worried this has become a battle over who is going to get paid what and this is detracting from my offer. This property has been foreclosed on and is owned by US bank and the mortgage held by Lehman brothers. It has been very frustrating dealing with the bank on this because they are basing their list price on a formula off of the mortgage amount. This is not realistic in this case because the reason this house went into foreclosure is the mortgagee left the state and the pipes exploded causing extensive water damage and a mold problem. I estimate my budget on the total gut to be 100k. I want to live in this house and am only offering what I think the fair market value is. This experience has left an even more sour taste in my mouth when it comes to agents. I feel like there are three parties involved, all with conflicting interests. I represent myself and my fair offer to purchase. The seller's agent represents themselves(the commission). My old agent just wants to reap the reward of my work. Does the fact that they are even arguing about commission hint that they are considering my offer or does is it just a formality before they decide to forward it on through "a computer system" to the bank. HELP PLEASE!!

My contract with this agent expired a few months ago.

I talked to my lawyer early this morning. She said that I should be fine. She told me that often agents are comfortable dealing with agents because SOME agents do some winking and negotiating among themselves to get the deal closed as they both stand to make a commission if the property sells. She suggested that I am not an ally and not as easy to negotiate with. Thanks for your comments.

I live in Wisconsin. I am not licensed. My agent was not doing a good job so I dumped him. My mom is a tax lawyer and a woman at her office helped me with an offer that I submitted earlier today. I got a call a few hours after I faxed the offer from the listing agent. She said that she had never gotten an offer from an agent that was not represented by an agent or a lawyer and is not sure she can accept this offer as valid. Do I need to have an agent to submit an offer on a property listed on the MLS? How do you guys submit offers? This might be really noobie questions, but this is my first time going it alone. Thanks in advance for all who respond.