All Forum Posts by: Gina Qing

Hi BP community, hope all is well. 

We got under contract for a new build with a developer via a realtor (she also represents the seller / the developer) about one year ago. We were informed by the realtor that the developer wants to have the purchase price raised up to market price, which is a huge gap, or he will not deliver the build. The original closing date was in November 2021, and the addendum had revised twice and now is Aug 2022, but the builder is refusing to sign, and hoping we either pay up to the market price, or cancel the contract. 

Could you please give us advice what we'd do, if we choose to enforce this current contract on the developer? Thank you very much in advance. 

Best Regards,

@David M. Thank you very much for the details, David! That makes lot of sense. 

@Eric James Thank you so much for your insights. When you buy for yourself from listing agents, do you find it'd be harder to get your offer accepted? 

@Robert Carmody Thank you so much for your advice! When I have another agent from the office list the property on my behalf, technically that agent would be the listing agent, and entitled to the commission I guess, if he/she can do that for me for free, it'd be really a huge favor. But I guess it won't hurt to ask :)

@Bruce Lynn That does make sense, thank you very much for your insights. 

@Bruce Lynn really appreciate your input, great information for me! So all these terms should be in the Independent Contractor Agreement, including such restriction on foreclosure sales, right?

Hello, I am a soon to-be realtor, and also looking to buy and sell properties actively. If I buy properties for myself, do I earn commission as a buyer representative (for myself) and if the commission % is up to myself to decide when I make an offer? I suppose the answer would be "yes", I'd like to get some insights (e.g. what % commission if at all) from experienced realtors on this. 

Would that be the same for selling my own properties representing myself in terms of commission and its percentage? 

Thank you very much for your insights!

Best,

@Colleen F. your resource of that website is awesome! Also thank you for second with Wesley and I will look into it.  Best Regards,

@Wesley I. Thank you for your insights, that's so helpful! It does makes sense to me now to have an EIN even if it's a single member LLC, and appreciate the other advice regarding where LLC should be created. I will look into it.

Best Regards, 

@Colleen, thank you very much for the resource and suggestion! You are right, I need to check with my CPA to confirm the EIN requirement.