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How to execute a private sale and save 6% commissions.


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2013 Jan 10, 10:25am   6,894 views  21 comments

by cloud15   ➕follow (0)   💰tip   ignore  

Cutting out the real estate agent commission.

One of my neighbours is selling and I'm buying.

This would be one of the success stories featured on patrick.net

#housing

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1   cloud15   2013 Jan 10, 10:31am  

I know there was some thread like this in the past, but I cannot find it anymore.

Any real estate attorneys here ?

2   Patrick   2013 Jan 10, 11:18am  

I think RE attorney Greg Glaser has commented on this forum. Here's his link:

http://www.gregglaser.com/

I'd be honored if you'd post your whole non-realtor experience here, especially as it's going on. Other people could learn a lot from your experience.

3   cloud15   2013 Jan 10, 12:09pm  

I would definitely do that Patrick.

So here is it , My meeting with the neighbors went really well. They were apprehensive about how would we carry the deal through without the help of a real estate agent but I did a good job to to explain that we can find someone who can babysit the deal through.

I'll keep you guys posted.

4   cloud15   2013 Jan 10, 2:37pm  

you are so funny man ....LOLZ.

5   CMY   2013 Jan 10, 2:53pm  

Definitely go the RE attorney route. Agents aren't needed after you've found a place and agreed on a price.

6   cloud15   2013 Jan 10, 3:19pm  

EMAN, why do you think so ?

you can easily do CMA using redfin , just click a button.

7   cloud15   2013 Jan 10, 3:40pm  

Any more recommendations for RE attorneys/ RE Agents who can baby sit the entire deal ?.

8   cloud15   2013 Jan 10, 4:13pm  

I'm in Bay Area.

9   PockyClipsNow   2013 Jan 11, 7:01am  

Here is what i would do:
1. Be super nice with sellers explain how much you love the 1970s flower pattern wall paper, you are gonna raise kids there just like they did, etc
2. After closing escrow put fresh paint and fresh carpet and LIST IT with an agent in MLS.
3. Count your EZ 50k

10   PockyClipsNow   2013 Jan 11, 7:05am  

If its CA then a RE attorney is useless on standard sale just get the forms and disclosures at staples and fill em out. $30 max. Sellers dont sue buyers ! Buyers sue sellers.

11   EBGuy   2013 Jan 11, 8:17am  

Buyers sue sellers.
Amen to that. The disclosures is where it gets ugly if the seller is not forthcoming. This either works itself out during the inspection contingency phase, or, if it gets really ugly, after close in the court system. Who's paying for the inspections cloud15?

12   RealEstateIsBetterThanStocks   2013 Jan 11, 8:20am  

if you can read and understand English you don't need an agent. 3 easy steps:

1) download forms online.

2) hire an attorney to go over the forms, fill them out and send them to the seller

3) save $15,000-30,000

RE agents are nothing more than a bunch of overpaid monkeys who lie through their teeth and conspire with each other to jack up their commissions.

"used car salesmen" aren't the correct terms. they should be called "cockroaches."

13   New Renter   2013 Jan 11, 9:19am  

APOCALYPSEFUCK is Shostakovich says

And when you're done drive around to brokers' offices and tell them how much you saved by rejecting the criminal cartel's financial crimes and how you're going to spend it in Caligulan splendor.

Or use the 6% towards the purchase of a giant pile of bullsh!t
Have half delivered to:

430 N. Michigan Avenue Chicago, IL 60611-4087

with the other half sent to:

500 New Jersey Avenue, NW Washington DC 20001-2020

Sign it your friends at www.Patrick.net

14   cloud15   2013 Apr 23, 10:56am  

By the way we were successful . Thank you patrick for referring Greg Glaser , he is a great guy and he helped close this deal.

15   EastCoastBubbleBoy   2013 Apr 23, 2:12pm  

Congrats. I too bought direct. The whole long sorted process (at least mine was long and sorted) is posted here and there throughout this site for anyone else who is interested.

Bottom line is a good real estate attorney and a working knowledge of the local market are paramount.

Depending on the seller (I bought a REO from a local bank), a certain amount of persistence is also warranted.

Remember - nothing is static, and the "rules" are always changing.

To paraphrase my old English teacher - "you may not like the rules, you may not think they are fair, but if you know them, you can use them to your advantage."

Nothing (that I know of) says you need an agent - but you do need someone who knows what they are doing. A good attorney is worth every penny.

16   AD   2013 Apr 23, 2:26pm  

FSBO.com

17   taxee   2013 Apr 23, 2:47pm  

Talked to Humboldt Land Title Co. (a worker owned Escrow and Title Insurance Co.) today. You can write up any agreement that suits the parties. Here is one in simple English, unlike the CAR forms: http://www.purchasing.cmich.edu/ptyacquisition/pdfs/sample-agreementtopurchaserealestate.pdf

18   Y   2013 Apr 23, 2:58pm  

I'll do it for 5.975%....

cloud15 says

Any more recommendations for RE attorneys/ RE Agents who can baby sit the entire deal ?.

19   cloud15   2013 Aug 3, 2:31am  

I'm giving recommendations for Brian Collins and Greg Glasser who I personally used to close 2 FSBOs but you are unnecessarily taking it to dicks and asses that's what your destiny is it seems.

20   wave9x   2013 Aug 4, 3:27am  

I didn't mention asses, but if you're offering, that might also show a lot of gratitude.

21   cloud15   2013 Aug 4, 4:09am  

I can't compete with you in these arguments , you win.

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