All Forum Posts by: Mohammad Murad

OP Lincoln is a great town since it is the state capitol, lots of government income, home of UNL, lots of medical etc. plus Midwest so a stable REI market.

Here is the problem I see. You responded to a FSBO deal with a RE agent not understanding you would pay the commission. That means you have virtually no experience in Real Estate. Not meant as a put down but as a statement of where you are at. You should be happy to pay $5,000 to your realtor as your buyer agent. All the questions you don't know to ask or check on, they should help you with if you ask.

1.   Is this a good market?

2.  Is this a good location?

3.  Is this a good deal?

4. How do you know if any major Capex issues or outlays to understand? Help me get a property inspection.

5.  Is all of the paperwork and title correct?  

6.   Is this a good cashflow and or appreciation deal?

You could ask a 1mm questions on BP and get generalizations or you can work with the agent who will know the detail. 

I’m sorry, I can’t. I don’t know anything about the Lincoln market hopefully now that you’ve said the city name other users with Lincoln in their keyword slewrtd will chime in for you. 

That would be a steal for a brick fourplex in many Mpls neighborhoods and a ripoff in some of the neighborhoods I’ve been through. And that’s a 2014 price for a fourplex in Vegas. So the price is right, and the income is good. If you know the neighborhood and think it’s good enough to live in. Your realtor should be able to tell you what it’s worth by showing you what similar properties in the same area/condition have sold for. That’s why they’re getting paid. :-). 

Good luck. 

It’s “always” been the buyer that pays their own realtor. It’s just been hidden from buyers. Why would the seller pay for your realtor to negotiate against himself? Are you going to pay for the seller’s realtor, or in this case his other selling costs?

Look at the paperwork you signed, that’s what you will have to pay if you buy thsi property. It’s probably more than $5k your realtor has offered to take. 

Imagine any other property that’s ever been sold in the US with a realtor. If you told a seller, on an accepted deal. “If you lower the price $5k you don’t have to pay the $12k in buyer’s commissions…”. That’s how the buyers have been paying for their own realtor and then paying bank interest on the commission, while the bank financed an inflated price. 

You just got a first hand look at what you’re paying for your realtor. 

You can take the deal and pay your realtor $5k. You can walk away. You can tell the seller you need them to pay some amount of commission up to the discounted amount of $5k.  (Have you told them this? They may expect you’re asking for 2-3% ($7500-$11,250) or you can tell them you remain interested @ $370k + $5k in commission, and they should contact you if they don’t find another buyer. 

You're responsible to pay your agent.

If the seller does not want to pay the buyers agent your option is to pay the buyers agent directly either by increasing the price and having it come from closing or pay directly.what does your agent expect to get?

You can try and negotiate with them as well.

If you have Been working with this agent, I would not kick them to the curb.