Only if you go behind the back of the agent and buy from the seller cutting out the Realtors.

Yes, it does happen, but not very often.

Agents only get paid IF THE HOME CLOSES.

They live in the real world of pay only for performance.

If the agent cannot find you your dream home, then they don’t get paid.

Not at all. Agents don’t make a dime unless there’s a completed sale, and if you do but, normally your buyer’s agent’s commission is paid by the seller.

Some lenders will lend you up to 80% of the After Repair Value of a property. It works like a construction loan – mainly local banks make these loans. I just closed on a HUD property. ARV was $159,000 based on an appraisal the bank had done. Purchase price was $117,000. My loan was for $127,200. This amount covered all my closing costs and I got a check at closing for $7,234 for repairs.

I am a real estate professional.
Whether or not you have to pay a real estate agent depends on the agency. If they are your agent (a Buyer’s Agent), they could ask you to sign a Buyer’s Agency Contract and there could be an up-front fee that you would pay and then it would be refunded to you when a sale closes (from the seller’s offer of cooperating commission). But in most cases, no, you would not have to pay
However, as a real estate professional, I will say this: if you are so undecided, go to open houses, do research in your market area and get pre-qualified for a mortgage so you know what you can afford. The real estate agent does not get paid unless a sale closes, and his or her time is valuable and her gas costs the same as your gas. When I have a client that is as undecided as you are, I will give them addresses of listings and information about them and let them drive by them, take a look at the neighborhood, the exterior condition of the house, etc. If they see something that is appealing to them, we set up a showing appointment. When you know what you can afford, your real estate agent will give you examples of what is available in your price range – if you are looking for a home with the features of a $200,000 home, but you can only afford $100,000, why waste everyone’s time? If you are seriously considering buying vs renting, be very upfront with the real estate agent and then he or she will work harder to find you a property that would suit you.

Children can not be held responsible for your father’s debt.

Here’s the website u can read

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u need money to buy anything these days but if u dont have it in your pocket then pull some out of the bank or write a check or use credit but make sure u dont over do it u need that money to live on

The gurus have at least enough $$ to make the deposit and handle the settlement closing costs.

What they do is apply for the maximum loan based on the value of the property in addition to taking into consideration what they expect rental of the property will cover the monthly mortgage loan pymts, taxes and insurance which the finance books refer to as utilizing LEVERAGE (someone’s else money

Realtors are paid by the seller, not the buyer. The real estate commission is split between the buyer and seller’s agents. It doesn’t cost anything to use a realtor to represent you in the purchase of a home. Some agents require that you sign a buyer’s representation agreement with them. That way, they represent you if you find a home, whether they show it to you, or not. This is also negotiable. You can sign a buyer’s representation agreement for the properties the agent shows you, the day you go out with him, and limit your agreement to just those properties.

As everyone has stated, you will have to re-take your exam.

Thats why I recommend being a professional property locator! Just visit:
You can refer property to motivated buyers NationWide, with No License. You can also make about 10 Times MORE than an agent by doing about 98% LESS. Just find/refer the property..and Get Fat Checks. No Selling, No Appointments, No Open Houses or Listing Paperwork Nightmares.

If you father has passed, and there was no will, the court will decide his estate. If he left a will it will be abided by, but most likely the property will have to be sold. What is important is to get the right to handle the property right away, so that you can get it listed for sale. The mortgage will need to be paid, hopefully he had some insurance to help you out with that. If not, then you kids most likely will have to pay for it. Or you could contact the lender and see if they would be willing to take deed in lieu of foreclosure. The down side to that is, if there is any equity in the property, you kids won’t get it.

Only if you signed something saying you would pay them a fee for helping you.

That’s not a common thing but some realtors do it. Most times they are paid put of the seller’s proceeds.

Start out with good credit and being able to qualify for 100% financing. Identify the property. It the seller is sufficiently desperate then they will agree to pay all your closing costs. You may have to still come out of pocket with money for the inspection or the appraisal, and some kind of earnest money deposit, but all this you can recover at closing if the seller agrees. Net out of pocket will then be $0. I’ve heard of (never seen), buyers actually leaving the closing table with money.

U can Get a loan!!!

No.
Only if you have committed to a contract and break it.
If you have paid a deposit and it is enough, it may be divided between the seller and the agent’s commission.

Vacant land. Buy some..

Unfortunately not only will you have to take the state exam again but you have to re-take the course as well. I believe this kind of ***** because if your a Lawyer, Dr., Dentist, Teacher, etc, in Florida then you can go be a teacher in NY & you do not have to do anything. But for us Mortgage Brokers & Realtors those rules don’t apply. Not only do we but most of our friends as well make more money then most of the professions I listed above. It’s unfortunate but the laws for real estate & financing are different in each state so you have to do it all over again.

Good Luck!

Basically, the mortgage company has a lien on the property, meaning that they will get paid off no matter who owns the property. That is, if title transfers to the children as stipulated in a will or living trust, then the children owe the money to the bank that is owed on the property.

In this case, the children have to negotiate some kind of payoff with the bank. I don’t know if they can just take over payments, since the bank never approved them for the loan. But, I’m sure they would be amenable to working something out (if the children lost the home because the bankers were jerks, that would make for some pretty bad publicity for the bank).

One option would be an estate sale, where the children sell the property on the open market to get the money to pay off the mortgage. But, the mortgage doesn’t just fade away when the father dies. Someone has to pay it back somehow.

The last resort would be a deed in lieu of foreclosure. This is where the bank just comes in and takes the deed to the property. This would probably be the best thing for the heirs to do if the father were upside down (owed more than it’s worth). Then the children owe nothing. If the father is dead, the survivors are not punished for his error in judgment while alive.

You don’t pay a buyer’s agent. They get a split of the commision with the seller’s agent, which comes out of the seller’s proceeds. (typically a 3%-3% split).

Sure you need money but not necessarily yours,you borrow from a bank or other sources,but don’t come looking to borrow from me.

First poster is correct you will have to do it again in any state all the state laws are different.

Meaning if you have to do 90 hours in arizona and you pass your test. Then you have to do 90 hours in new york. You do them again.

Thats the site for arizona that can answer your licensing questions.

Good Luck in your new career

Someone owes someone pays……..if your dad has life insurance it will help………mortgage insurance will help, but someone owes someone the debt…………just that simple….so who’s next in line……..good luck……..pray for dad

Jessica,

There will be several hot areas when the market settles. The problem is knowing when it will settle. I personally opt to put my money in markets where the economics are sound. I’m a long term kinda guy. I believe in slow and steady…a turtle race if you will. Just like in the stock market…there are opportunities to get rich or lose it all when taking on such risks. The only way to hedge this bet is with sheer education…long hours spent determining where and when to buy or by taking a look at some basic factors that can tell you whether a given area is a steady achiever. I work and invest in Tulsa, OK b/c it is steady and the fundamentals are sound. Throughout this entire mortgage and financial crisis, OK has remained strong and has boasted gains in home prices. OK is number one right now in appreciation according to OFHEO
and has steadily given appreciation results to their owners. Now don’t get me wrong, we are only appreciating at 5-6% but we are appreciating which is more than can be said for most of the country right now. So this question needs to be addressed at its core. Do you want to take large risks or are you concerned with results that are more secure and will take care of you over the long term. If you are at all risk averse, I would recommend investing in somewhere like Tulsa, OK. If you have a strong propensity to risk equity in a property, then you might want to look elsewhere. CA has some deals…but are they really deals…is the market finished going down…and if so…the values aren’t going to magically jump back up to overinflated values of 2 years ago. Hope this helps a little. I have found that there really are no get rich quick programs out there but rather success can be found in looking at sound and organized investments that represent your ultimate desire for wealth. Don’t get carried away in the best case scenario all the time. Those times will come soon enough but only if they aren’t forced. I recently started a blog for the company I work for which can be seen at
We specialize in real estate investments and have had many California customers happy with their decision to invest outside of their state. It has certainly paid off. Check us out if you’re interested. If not, at least maybe you can take some of this advice and apply it down the road.

To get a license you need to take a course and then pass 2 tests – one general knowledge test and one that is state specific. To get licensed in another state that far away I assume you will need to retake the course for knowledge realted to that state and retake the state test (but you probably won’t need to redo the general info once you pass that test).

If what those “gurus” are trying to sell you was true, why are they trying to make money from that instead of real estate?
However, if you buy those books quickly, they will throw in a set of Gensu knifes.

Real Estate agents only earn comission on homes they sell.

The bank will collect the remaining debt from the estate of the person who died.

They will take the house and any other valuables left.

Children can not be held responsible for anything, you have rights.

You would have to take it again, as each state has differant laws.

You can buy a home with an 80/20 mortgage, but you’ll probably still need to have some “hand money”. The 80/20 mortgage is actuall a mortgage for 80% of the cost of the house and then you take out a loan for the other 20%. You don’t pay PMI, but you have to be careful not to get burned on the terms of the loan.

I am a real estate birddog, investor and mentor and I am not a fan of the no money down, make a million dollars in real estate your first month B.S. However you can make a lot of money in real estate if you set yourself up right from the beginning and treat it like a business. My partner and I work with people to first establish their skill level, interests (rehabbing, buying and flipping, landlording, etc) and we also discuss risk tolerance. If you are 36 years old with a mortgage, wife and three children, you have more at stake than a 22 year old who rents a cheap apartment and only has to worry about himself. And different people have different comfort levels when it comes to risking capital or even taking on the responsibility of property.

That being said, I believe the best way to start is to read as many real estate books that you can get your hands on. I usually go to the library and take out books and if I think the book has good info, I will buy it. Also, you can go to ebay and half.com and look for real estate courses at greatly reduced prices. A lot of these have never been opened.

While you are doing that, look for a real estate investor group near you (go to nationalreia.com and click on groups). You can meet other investors and they can give you tips on who has better courses.

To me, if you are working with little money and are not sure of yourself yet, I recommend birddogging houses for other investors. You can learn your local market and also learn what other investors look for (this is called a clue). While you are learning, you should also make sure your credit is good (yeah, I know the no money, no job, no credit line. You dont need them, but it sure makes your life easier if you have them!). Also, line up your money, whether it is a line of credit, bank, mortgage broker and/or hard money lender or private investors.

I have generated $10,000 in a weeks time (with about 6 hours worth of work) tho it took a couple of weeks for the first $3,000 to be paid and about two months until the house closed and the rest came in. So, yes. You can make big and fast money in real estate. But it is better to go in with knowledge because there are sharks in the waters and scammers are out there.

If you want more info, you can email me at.

Barbara Grassey. com

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no whowver inherits the house is responsible but if he had home owners ins the death would pay the loan off and the inheritor would be free of debt..

1) If you have excellent credit, you can still obain 100% financing from a good lender. You can also get a nice FHA loan….

2) I don’t ever recommend short sales. Short sales benefit the bank, and sometimes the agents who are coordinating the sale…but never the client. Foreclosure is clean and quick and you won’t be obligated to pay a deficiency or be taxed on it as if it were income. Both short sales and foreclosures affect your credit equally as negatively.

3) I’m not sure I understand the intent of your question. If you don’t want to purchase, but want to lock in a low price, do a lease-purchase option which locks in the price with very little money at risk.

4) Lists of properties in default can be purchased online or obtained from a title company (NOD’s).

I hope this answers your questions.

You should read some books on this, Go to a book store like Barnes N Noble and see what you can find in the real estate section. There are ways of doing this but it is some what of a gamble on your own finances, That does not mean that it can’t be done though.

What capital are you starting out with? If you have $10 mil, then development or commercial is good. If you have $5,000, you should start with something smaller like tax liens or tax deeds and build your capital. You could also look to ‘borrow’ money and invest it and get higher returns for it.

In many places, stock brokerage houses and real estate companies selling single family residences are cutting down on branch offices and generally reducing office floor space. This is going to put many landlords who own office buildings into bankruptcy. There will be some buys out there.

most people in the real estate business have already made money elsewhere before they got into the business.

Nobody is buying and everybody is selling. With all the mortgage companies going bust here and all the realtors around, why would you want to become a real estate agent here?
I am sorry you hubby lost his job, but trust me, even if you became an agent in MI, you work on commission, and you are not going to making very much, if anything. The houses just arent selling now, just being forclosed on.
However, to answer your question, check the want ads in the paper. There are a few realtors that are willing to give you free training. Then you have to pass the govt test. Its not going to happen overnite, so you should look for other work to get you through these times.

Why would you do this? And better yet why do your married friends want to have this as their primary residence? Weird.
Anyway trust me its a bad idea. Just leave it alone

If you have a CPA that does your taxes, that would be the route to take,

Keller Williams offers the best training.

Terry S.

One of two ways. First and foremost, you need a good credit score. In some areas, like California, you can get 110% financing. That will cover the home, taxes and closing costs. The other way is to buy a home for less then it’s worth. If you buy a house for 80% of what it’s worth, you can finance the whole thing because you are instantly aquiring 20% of its equity.

You don’t need a partnership. When you purchase a property, you will record the deed as Tenants In Common.

There are different entities, but this is the easiest.

On the deed it will say, “Friend Male and Friend Female, a married couple and You.”

I would clearly state the fractional difference. What this means, is your couple owns 50% together, and you own the other 50%. Or, you each own 33 1/3% of the property. You will have to decide what that is. I would suggest that you yourself own 50%, but you will have to pay 50% of all the expenses, taxes, insurance, repairs, etc.

Should any of you decide to sell, you can sell your fractional proportion.

Good Luck.

contact some dealers who make websites

You have to sell your flying pigs before hell freezes over.

Everyone is fighting about the commission to sell their house, but there are more sellers than buyers.

Did you repaint the house before showing it?
Will you have the carpets shampooed?
Will you and the kids vacate during the first week of showings?
Will the house be professionally cleaned before showings? cluttered?

Agents are paid based on performance. With No sale there is no money. With no offer on the table there are no details to negotiate.

IMHO
There are 4 people involved in the sale of a home, the owner, the buyers and the two agents. The personality with the most persuasive arguments and negotiating skill will win the deal for their side.

IF you are able to negotiate an agent out of their commission, that agent is not the one who should be the defender of your real estate values.

Most often, they get a piece of every transaction in the office. Their license is on the line for it.

Of course, broker/owners who don’t want to be principal are usually playing rope-a-dope, so whatever you can get your dope to agree to. If your practices and supervision and training were up to the task, there wouldn’t be any need to pay the dope, would there?

Don’t fall for any of that infomercial stuff – YOU NEED MONEY TO BUY THINGS

vote for ron paul

6 is the norm, but you can ask them to charge 5 and get away with it. Any lower and no agents will show the property.

Check out one of the real estate schemes that are popular from the library. They will have step-by-step on how to do all of this…

Good Luck!

The key to making money in real estate is to be educated in the various aspects that will determine whether you can make profit on a property. You have to be able to know realistically what a property can be sold for, and if the work that you will put into it is worth it. You have to take all the factors and weigh them out. Remember location, location, location. Yeah, sure you can buy a bigger house in a not-so-great area for cheap…but then you will have to sell it cheap!! Even if you fix it up. You have to look for the house that are in the nicer areas….for a low price, then when you take the time to fix it up..you can make your money back and much much more. Be careful when you find properties though…dont jump into something too quickly without thinking anything through…but on the other hand….dont dwell on it too long, as you may lose the opportunity. You have to be savvy in this business. It will come naturally eventually….But keep in mind that to make awesome money in real estate….you have to work your **** off. Maybe work with an agent, they will be able to help you make the most on your money. If you dont have much to start off with….there are also plenty of ways to invest what you do have, until you have enough to invest on properties alone. Remember…it takes money to make money. Start small and you will be making tons of money in no time. Feel free to email me with any questions…i’d be happy to help you to be successful in the real estate business.

It all depends on what you desire. I’ve seen principal brokers who were paid a straight salary plus a bonus based upon production. Others are strictly ‘bonus’ oriented. Yet others use a combination of a base salary along with earned commissions on transactions which they generate themselves.

There are no hard and fast rules about principal compensation. You can devise whatever works for your firm.

You should check out Home Finder Forum. Real estate agents can tell you personally abou t thier experiences. Just go to the realtor section in the forum and post your questions.

You really want to do this? Friends now…you never what is always said. Never mix business with friendship. Your need to see an attorney to establish how you will hold title to the property. Tenancy in common, joint tenancy, etc. You cannot hold title in Tenants in the Entirely because this is for married people who buy property together only. Things to consider…What if they get mad at you or vice versa. What happens to the house? Who buys who out? Will you guys own the propery each at a third or they will own one half and you the other half??

buy low, sell high

Hi I am a real estate agent of 20 years and heres my answer to you. Hope it helps you.

The first thing you want to do before you start is realize that as an agent you will get hired anywhere as you work on commission.

However there are 2 important things you will want to shop around for Before you go to work at an office. These things are..

1. Your obligation to the office
Some offices have mandatory events like Caravan or what is called Floor time. Caravan is usually 1 time a week where all the agents are required to go look at all the office inventory.
This is great when you are new but after a while when you get clients and you are very busy it becomes a pain but since you are new it may be good to get experience and see homes.

However if it was me I wouldn’t do it as it takes up a lot of time when you can be out helping others and earning money so make sure there is no mandatory caravan.

FLOOR TIME
Some offices have floor time where it rotates through the office who is going to answer the phones. Basically it’s a way the office can save money on a secretary and so you would be required at times to take calls and answer ad calls etc..

I recommend you stay away from that as once again your time is better spent serving your clients instead.

COMMISSION SPLIT
I strongly suggest you do not work with Remax when you are new as they charge fees for you to work there. I used to work with Remax and they are a wonderful honest bunch of hard working folks but their office is not for the faint of heart or new agent as every month you will need to spend about $1000 (Or less or more) in desk fees, phone fees, copies etc..

If you have no transactions going this would be a nightmare for you as you must pay those fees even if you have no transactions going.

In fast paced easy markets Remax is the best place to work. In this market they are the worst place to work.
Especially if you are new.

Instead shop around for a commission split and no fees. You can find them all over. Now, if you can find one with no fees, a good split, and no caravans or floor time that would be best!

Some companies will offer you a 50/50 split that is when you have a deal that closes you get 50% and the office gets 50% yet this is good as you have no fees so that is 100% profit to you.

However right now, even new agents can easily get a higher split than that. I have seen them where you get 70% and the office gets 30% and if you can get that, that’s great. You may be able to get even more if you shop around.

Now when it comes to companies, you must know that people really do not go with a company because of the name but they go with an agent because of their trust and confidence in them.

By being yourself and just being real and honest you will make very good money.

What you want to do is focus on promoting Your first name or your first and last name and not the companies name. The company already has recognition but you don’t.

You will find that the top agents focus on advertising themselves and getting their name out there rather than focusing on your company.

The best thing you should do is get a web site it’s easy and very inexpensive. See below

Depends on the transaction, if it’s a refinance, I would tend to agree with you even though I don’t understand what you mean by stating title insurance negates the need for tax and water certificate. I’d also be cautious of the legal description errors. I had a situation in NY, purchase, where the deed to the property did not contain a legal description at all. the previous title company would not give us a letter of indemity for our title and then come to find out our title underwriter would not accept it, the original deed had to be found and re-recorded, no exception, so I guess it depends on what you mean by “errors” On a purchase transaction, they usually add more value due to the purchase contracts and drafting of deeds, etc. To be bluntly honest, most attorneys usually dont even touch the file unless there is a major problem, their paralegals handle the day to day operations

you go and borrow the money.

It only sounds high until you realize how much knowledge, effort, and time it takes to sell a house. Under most circumstances, half of that commission will go to the listing agent and half to the buyer’s agent.

Consider that your agent will easily work 60 hours a week. Let’s say it takes 8 weeks to sell your house, and that it sells for $250,000. Your agent will get 3.5% because there was a buyer’s agent involved. Before deducting marketing expenses, your agent has earned $8,750 for a total of 480 hours of labor. That means they’ve earned about $18/hr before expenses and they will owe 100% of the payroll taxes on that money.

Doesn’t sound like much to me.

lol

Technically you only need a brokers liscense, no degree. My university, however, offers a Real Estate Degree.

speak to at least 3 different brokers, and find the right fit regarding these 4 elements:

-commission split (100% is not always best)

-broker support

-provided leads

-advertising support (your overhead can get HUGE if all on your own)

You have lots of residuals now to live on and you can try real estate. You might look for a builder-realtor to start with and only sell their product. You don’t need a license for that . By the time it is all built and sold you will know the business very well and lots of sales people too. The one thing realty sales people can do well is talk.

They normally try to get six percent. Tell them that you will split that with the buyer, so you only pay three percent. Don’t pay them over 4 percent anyway. Tell them that you won’t pay the closing costs either. Leave that as a bargaining tool.

Being a Realtor is not really part time. It’s alot of work! Regardless of that, you would need to take the required real estate courses, pass those and then take the tests and pass those. Obtaining all the other things you need costs money. When I passed my tests, I needed to pay a few hundred dollars for my license, my lock box keys etc.

Put everything in writing. It might seem petty now, but it wont be later when and if you need it. It needs to be clear who pays what and when. Taking the time now to think of things like repairs, insurance. If your planing on living in the same home with a second family that even should be more defined. Do you want to live with someone that dosent think that doing dishes daily is necessary? It seems silly now but it wouldn’t be if you make clear rule and standards of living.
Think twice or even three times. Buisness with friends usually ends with nothing… no friends no buisness.
Good luck!

You buy a crappy looking house for 250,000-300,000, remodel the house (have a state of the art kitchen, finished basement etc.) then sell it for $500,000. That way you make 100,000 in return.

If you are considering becoming a Realtor, the Orlando area seems to be doing better than others in Florida, so there may be some good opportunities for you there, in sales.

Real Estate Investment is a whole other creature and there is not enough space here to speak in detail on that.

But I am hoping you are considering real estate sales because you love it – not just for the $$$.

It’s a tough job any way you look at it, particularly in today’s buyer’s market, so please consider the fact that – to do it right – you will have to immerse yourself. If you are going to dedicate yourself to something – you should love it. Life’s too short, so if you are only kinda sorta thinking it might be interesting to take a stab at – think again.

However, if you have a dream, and a true passion for real estate, you can do it! Be prepared to do it full time, taking advantage of all the training and resources of your brokerage house.

1. Save some $$$ before you start. Make sure you have money to live on for at least 6 months plus $$$ to pay the start up costs for the new business, including the class fees, MLS fees, E&O insurance, franchise fees and desk fees, if you choose to go that route, marketing materials (business cards, signs and riders, postage, advertising, website, etc.).

2. Take the prelicense class, study hard, learn the materials, network in your class (save business cards as future contacts), pass the class test – and then go on and take the State exam. I would also recommend taking a prep class for the State exam (it helped me tremendously).

3. Interview at several brokerage houses to see what they will offer you in terms of training and support, and find your niche. Every brokerage has something to offer – feel out the environment (is it friendly and helpful or cold and competitive) and the broker manager (is he or she professional and supportive) – do the research, then go with your gut. You don’t want to spend $$$ on marketing materials and then find you need to change brokers and do it all over again.

4. Prepare a detailed business plan for the first year including your marketing framework and all costs – with the help of your broker manager – and then WORK THE PLAN. A scattered shotgun approach will not be as effective as a thoughtful, sensible, detailed marching plan. Use all of your past contacts as a starting point for your marketing strategy, and continue to collect business cards and email addresses as you meet people day to day.

5. Become a REALTOR and read and USE all the materials on and in their member magazines – they do have some very good ideas from agents already in the business.

6. Be prepared to analyze and understand trends in your local market, and how to turn them into opportunities. This is a serious business and you need to treat it that way.

7. Remember to have a life. All work and no play will stress you out. Be flexible for your customers but include some family/personal time on your calendar.

8. Persevere. Be positive. Be enthusiastic. Be professional. Be prepared to continuously market your business to your contacts, past and future.

You can do it.

Good luck and best wishes

why would you do that?everybody is getting out of the real estate business

My company has some offices in Orlando..I would be happy to reffer you to a Broker in the area that can help you get started.

Email me at if you are intrested

If you have a Weichert Office near you I highly recommend them!! They have great products to help you service your clients, they have awsome training and it is the #1 private owned Real Estate company in the country!!

Let me know where you are located and I can find a Broker in your area!! Email me at Best of luck

My firm does offer benefits to agents, but at their own and full cost. Bear in mind that real estate agents work fully on commssion, and have no salary of any sort. We have put together a health benefits package simply to assist agents in getting a lower cost healthcare program. However, we pay none of it. Each agent is required to pay the full cost of any offered benefit.

most places in Tn (Realtors) will pay for your classes or help out anyway…you take a test and get certified…most local Realtors will direct you in the right direction….good luck

One that involves a lawyer, cover your butt

It’s 6% in my area. You can try to negotiate a lower fee, but it’s a lot of work to sell a house in this market. Full fee means all the agents in you area will want to sell your house and get a good commission. Unless you have a buyer lined up, full fee may be worth the cost.

Why not work with a buyer’s agent that is representing YOUR best interest?

She should disclose her relationship with you, as a saleperson, agent or transaction broker.

If you have a lender, get a pre-approval amount to know what you’re working with but always have a pre-approval letter written for exactly the amount you need so the other side doesn’t know your maximum amount. If she represents the seller, don’t tell her how much you’ll pay.

In short, get your own agent and it’ll save you time and maybe even money.

if you are looking for a real estate company to work for then you are just making somone else rich off your time and effort. if you have experiance with real estate but not the money to buy or sell your self then i think you should work for a company and save a lot of money. when you have ennough then start your own business. thats how you get to where you dont depend on a paycheck or benefits.

In most states, deaths in a home are not considered a “material fact”. Therefore, they do not have to be disclosed. If you do decide to disclose, you must make sure that the Seller has allowed it. Sometimes it is best to do so if you believe that it will be discovered anyway (e.g. it’s in the news; the neighbors are talking about it; the house is well known for it; etc.) Although perhaps not legally required to, for the sake of a smooth sale, it makes sense to do so.

gl markets fing flooded, better of playing lottery.

is a good website that gives all that information

you should already know this if you are in real eastate

My opinion is don’t do it. It’s a great way to ruin a friendship. If you do decided to do it anyway, I would hire a lawyer and write a contract explictly outlining all the possible potential problems that could arise from the business/monetary relationship. Even then, I beleive you cannot be fully protected because any liens/judgements against one party could potentially become the obligations of the other.

I am at 6% with my agent that I have my house for sale with. The best way is to contact several companies and ask what their charge is

Go to the official state government website for your preferred state and look under the licensing requirements for a real estate sales agent. Most states require a class which can vary from a semester long college class to a week long class. You then have to take and pass the exam and background check and apply for a license.

Unless you buy one of her listings she will be working in your best interest. Most represent both buyers and sellers.

I would not withhold anything.

But, you should interview her, find out how many sells she has closed in the last couple of months. With the slow market 5-6 is a reasonable number. If less I would worry about her ability to get the deal together and close it for you.

Also, find out what she will do for you. Is she going to determine what you want and show you 3-4 houses that are that? Is she going to email you a list of hundreds and expect you to do the work yourself?

Does she have good contacts for inspections?

An owner has to disclose a death in the home if the death was caused by the condition of the house. They also should disclose the death if it was strange or violent- especially if it was in the news or if the neighbors would be sure to talk a lot about it.

A Realtor has much less chance of being knowledgeable of the event than the owner but the Realtor has a responsibility to disclose these things as well.

Also the Realtor can get into trouble for saying something like :the last guy died of Aids (or whatever). You probably are not privy to the death certificate and don’t know any more than what some neighbor is spreading around, and there are privacy laws.

Get a buyer’s agent. Less headache.

The one thing I think about is when I bought a rental property, I made my offer, not knowing about negotiating tactics. The buyer agent had me sign a dual agency agreement, and I don’t think he had my best interests at heart. I offered a low price and ended up paying full price. I was naive to the fact that he was not on my side, and also, I should have asked for closing costs or some other bargaining chip. And I should have stood my ground on the slightly lower price, after coming up some. Being in the investor shoes, the buyer needed me more than I needer her. I could’ve walked away, but she needed to sell. So she probably would’ve taken the lower price had I stopped. Overall, I do not regret the investment, it was good, I am also lucky because I didn’t order an inspection!!! (Naive again) Lucky it was in good shape. But it also could’ve been a bargaining chip. Had I gotten a lower price, I’d of had more equity now.

John Beck’s information is correct but his delivery is a lot of marketing gimmick. Instead of paying a few hundred dollars for his system, I suggest buying a $19 book. My suggestions can be found below.

How do tax liens work:
1. Owners of real estate have back owed taxes.
2. County puts a lien on it and sells the lien to investors.
3. Investors get money back if owner pays back taxes, usually at a high interest rate of 16-18% in Arizona, Florida, and other states.
4. If the owner does NOT pay taxes, investor does not get any interest or money. But he has the option to OWN the property if the owner doesn’t pay within 2-3 years.

Why doesn’t everyone know about this? Because you need to read a lot. Learn how to find the good deals. You don’t want to buy ditches or swamps, so you need to know how to research properties. See sources below for more information.

Generally not because it’s not something that has any impact on a potential buyer. I’m not saying you might not care, just that it’s not something like basement flooding that you actually need to know about if you’re buying a house.

Besides, how could that info always be known? My house is around 50 years old and I’m the 4th owner. I wouldn’t have a clue if there was a death with any of the last three so I wouldn’t have that knowledge to share with my agent.

No, there has been so many deaths in so many houses that the real estate agent would be killing a sale (no pun intended) if he/she had to tell about the deaths in all the houses they had to sell.

Agents are licensed per state. The regulations for your state are likely online. Each state’s requirements vary and the amount of classroom time will vary greatly. The lead time to the next test is also a factor.

Some states will allow home study. Others requires each course being tested in a controlled (monitored) environment.

Some of the time an office will cover the cost of such training after you start earning an income. You might check with various offices to see if they are taking on new staff, if they have a recommendation for training and if they have any reimbursement plans.

Community colleges are one source for a state approved course. There are also private providers so use the web to search. Some are national with courses trailered for each state. Others are very much local and only offer courses for 1 state.

some cities have classes at local real estate offices or community college or classes offered by high schools at night like…art, cooking, spanish, computer etc

I don’t think there is… it’s really just the opposite if they are suppose to and they don’t- you can get into trouble. Why someone would disclose it if they didn’t have to god only knows……

Also you just have to write someone died in the house- not how or why….. we bought a house a man killed himself in but it only said died in the house. We found out through the neighbors about the rest but we didn’t really care.

Typically, you’ll pay 6% in commission. 3% goes to your agent/broker, and you offer to pay the seller’s agent 3% in order to convince agents to show your house to their clients.

Some real estate companies will charge only 4%. What they do is they list the house for 1% commission, but they still offer the full 3% for the buyer’s agent.

You could offer reduced commission for the buyer’s agent, but usually that won’t pay off. When the buyer’s agent sees that they will get a lower commission from your house, they will move on to the next house to show to their client. In today’s market, it may even be wise to offer 3.5% or 4% commission to the buyer’s agent to attract more people to your house.

As a general rule of thumb, you should figure on about 10% of the sale price in real estate commissions and closing costs.

those commercials are a lot of baloney. they make it seem like anyone can buy a house for $500. theoretically it could happen but in practice I don’t think it happens too much. if you owed $500 or $1000 in back property taxes you would do anything, borrow from relatives, sell a kidney, even sell your house, before losing your house over that small amount.

They always CAN, the law dictates when they have to. They always have to if directly asked and they know.

never tell her what your max is as they will show you only in that range. In fact NEVER BUY ALL YOU CAN since you need to have fun in life as well and just because you have a house will not make it a home. tell her you have down payment but you want the seller to pay closing cost and prepaid, always start low ball on a house and work your way up
I am a mortgage banker in TN & KY

You have to understand if a property has a tax lien on it there is probably a loan on the property also…The lender is not going to just let you come in and buy that house for the back taxes when they have a mortgage on it..More than likely the mortgage company will also be bidding on the property at the tax sale…They are not going to let you buy it very cheap..They will buy the house back for themselves and sell it to re-coop as much of their money as they can..ss

that is the norm