Home buying question?

[grinsangel]

This question is for anyone who has bought a home or is currently looking to buy one. When you found a house that you were interested in making an offer on, did the realtor just say that you were writing up an offer for a certain price, or did the realtor talk it over with you and let you come to the decision with his or her guidance?

[scout]

Our realtor gave us guidance, but left it up to us about the final price. She actually suggested that we go a bit lower than we'd originally planned.

[grinsangel]

Thanks, Scout. We have been serious about 2 houses so far (the first one we backed out of upon inspection of it, and the second one we are considering), and each time our realtor has just written up an offer without even asking us what we want to do about the price. It's sort of beginning to aggravate me, so I was just wondering what the norm was, or if there was one.

[Cali*Girl]

In my experience, the realtor asks you what you are willing to offer and will discuss with you the best offer to make (whether to go higher or lower, for example).

[amorey]

Our realtor told us that she could advise us on price, but we would have to decided what we wanted to offer for price and earnest money and what contingencies we wanted on our own. You should me making those decisions, not your realtor!

[grinsangel]

See, I always thought that the realtor would ask us what we wanted to offer and advise us accordingly. The fact that she hasn't twice now sort of bugs me. I just wondered what was typical. Thanks ladies.:)

[Reenie]

Our realtor told us that she could advise us on price, but we would have to decided what we wanted to offer for price and earnest money and what contingencies we wanted on our own. You should me making those decisions, not your realtor!

Hi grinsangel! :waves: Our realtor did the same as amorey's. She would tell us the prices of similar places, but had us decide this stuff. If you would like to search past sales for your area:
click here (http://www.bairdwarner.com/content/PastSales.asp) .

I'll be going to our journals soon! :)

[tenofcups]

We also made our own decision, with our realtor's help. How on earth can she decide what *you* think a fair offer is? That's just wrong!

[grinsangel]

Thanks for the link, Reenie. I'll certainly bookmark that one. :)

[amorey]

I think it might be illegal, too, or at least unethical, since you’re signing the document and representing it as what you will pay.

Check out Bank of America’s Home Value Search (http://www.bankofamerica.com/loansandhomes/index.cfm?template=hc_home_worth) for more past sale info.

[ee_chick]

Our realtor has always pulled the comps for recent sales of similar homes, and then we discuss together what we think a reasonable opening bid is. I would not be comfortable with my realtor making that decision without my input!

[scout]

Wow. I would think that would be really unethical. We looked at a few houses that were slightly above what we could afford, and no way would I have wanted the realtor to write an offer without consulting us. I would definitely have a talk with your realtor.

[grinsangel]

She knows what we can and can't afford, and she never tries to write an offer for anything that we can't afford, so I'm thankful for that. What bothers me though is that she never asks us if we want to offer lower or anything like that. The house we are currently looking at I would not pay full price for, but she thinks we should. I know she wants us to get it, but at the same time the people might accept a lower offer as well.

[ejs]

I think it's wrong that your realtor is doing that. But I have a question: why have you signed the offers when you haven't decided the offering price?

[Marie]

I think your realtor is totally and completely wrong and I would be finding a new realtor personally.

[daener]

Why does she think you should offer the asking price? Make her pull the comps and prove to you that it's the right tack to take before you sign anything.

I agree that it sounds like an unethical practice. Call your state's real estate board and ask them. You might even check to see if there have been any complaints about your agent filed with them. You never know.

[Fluffy Bunny]

Keep in mind that even though you are not directly paying your realtor, she gets 3% of the sales price as her commission, so it's in her best interest for you to pay more. Her behavior definitely sounds fishy. Have you signed any contracts agreeing to work with her for a specified amount of time or can you find a new realtor?

[Lil' Peach]

We recently started working with a new realtor who is much more helpful in this regard. She actually told us what she would offer in our situation! (She is also good friends with my MIL which I think helps). The last one we worked with was so vague and unhelpful that we were lost. Ultimately it is our decision, but I really think your realtor should help you in suggesting what may be an acceptable offer. :)