We are selling our home by owner and do not have a contract/offer yet, but would like to make a bid on a house we saw. The Realtor who has been showing us homes insists we must list our house with her (or another agent) in order for our bid to be taken seriously and in some cases, accepted. Is this true?
2007-06-07 09:36:07 · 3 answers · asked by beccaboogrl 2 in Business & Finance ➔ Renting & Real Estate
No seller will take your offer seriously if your house is FSBO and you dont have a purchase in the works. The sellers don't want to tie there house up by someone who won't be able to qualify for financing, and unless you can carry both mortgages, you won't qualify.
Your Realtor is correct, your offer will most likely be rejected. Most lenders will consider a bridge loan if your house is listed with a traditional Realtor, but not FSBO.
2007-06-07 17:56:14 · answer #1 · answered by godged 7 · 0⤊ 0⤋
Yes, it's fairly true. Far too many sellers have been burned by "For Sale by Owners" who are clueless in selling their properties.
When I receive such an offer on one of my listings and the sellers look for advice, we normally end up countering the offer with the proviso that the buyer's property be listed within three days of acceptance, or the offer is null and void.
2007-06-07 09:40:54 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
It is sort of true. No one will accept your contigency because the odds of you selling your house with a listing are pretty much nil.
BUT, get yourself your own agent, don't use her! She just wants all of the commission. She legally HAS to get you to pay as much as possible, you need one on your side to negotiate with her.
2007-06-07 12:28:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋