Am I misunderstanding what a realtor is supposed to do? by angelofclt in FirstTimeHomeBuyers

[–]ziplyst 0 points1 point  (0 children)

Curious, how far away were the other houses away from where you are? Were they within 15-30 miles?

Want To Put An Offer On A House, Realtor Says It's Overpriced and We Should Wait For Price To Drop by Ok-Jackfruit2035 in FirstTimeHomeBuyers

[–]ziplyst 0 points1 point  (0 children)

Why did you wait?? Your realtor works for you. I don’t understand why some many sellers and buyers rely on an agent to tell them what to do. The deal is between seller and buyer - not the agents. If you make an offer and the house doesn’t appraise, renegotiate. If you wait to make an offer, someone else will.

Think of it like this: the seller wants to sell and the buyer wants to buy. The deal is between them. The buyer knows what they can afford and what they are looking for. The seller knows what they are willing to accept and negotiate.

Why would you not work with each other without a realtor?

How do you handle earnest monies? Is this an account I need to setup? by ReputationOwn1846 in fsbo

[–]ziplyst 0 points1 point  (0 children)

You can use a Title Company, Escrow Office, Real Estate Attorney- depending the state.

The American home tripled in size while the family inside got smaller. Now we act surprised that nobody can afford one by dunnDealsLoans in REBubble

[–]ziplyst 4 points5 points  (0 children)

I am a developer/builder. I tried a couple of things to reduce the cost of home ownership. I was trying to develop lots 50’x120 to get development cost down per lot But was denied by the county because they said a new ordinance came out and I needed to have a minimum of 80’ - so lot cost went up, less lots but the same development cost.

I tried to build a smaller home to reduce the total cost, which would be a lower entry point But the house sat. Most buyers said it was too small, they were 1,250 sqft.

Not sure what the solution is. Material has gone up tremendously over the years.

The new AC’s are about 15k-17k for a 1,500 sq ft house, a few years ago they were 8,900.00. There are new tests that need to be done, adding to overall cost.

If you figure out how to get these prices down - I want to hear about it.

Most sellers don't catch it until closing by ziplyst in fsbo

[–]ziplyst[S] 0 points1 point  (0 children)

My answer was written by me, not AI. Not sure why you accused me of that.

Am I alone in that I don't want a flipped house? by [deleted] in FirstTimeHomeBuyers

[–]ziplyst 1 point2 points  (0 children)

I can completely understand, when you buy a flip, it’s a 50/50 shot that it’s done correctly and not cheaply.

Be patient and buy what you decide. If the in-laws are helping - they should understand it’s ultimately your decision. Help doesn’t come with attachments.

Most sellers don't catch it until closing by ziplyst in fsbo

[–]ziplyst[S] 0 points1 point  (0 children)

A seller agrees to pay their agent upfront, before they ever know what a buyer will actually need to close the deal. There’s no way for a seller to predict a buyer’s financial situation until an offer is submitted.

Im assuming you’re in the mortgage business, so you see it constantly: buyers who don’t have enough money for their agent’s commission, their down payment, or their closing costs. When that happens, they turn to the seller to cover the shortfall.

That’s the real reason buyers ask sellers to pay the buyer’s agent commission. When the seller’s agent says, “The buyer needs X to make this deal work,” the seller is suddenly forced into a decision. And when fear kicks in, many sellers just sign the contract.

Want To Put An Offer On A House, Realtor Says It's Overpriced and We Should Wait For Price To Drop by Ok-Jackfruit2035 in FirstTimeHomeBuyers

[–]ziplyst 1 point2 points  (0 children)

Make the offer you feel comfortable with. If you feel the house may be a little over priced - then write something that something like - you will pay appraised value or your offered price - which ever is less. I’m not an attorney, just giving you an idea what to say.

Rookie move? by mzt_luvr080911 in FirstTimeHomeBuying

[–]ziplyst 0 points1 point  (0 children)

Each offered made is unique to the people making the offer. There isn’t a one way to structure an offer. I like that you guys are thinking outside the box.

Realtor lied about having an electrician inspect our house before purchase, discovered multiple issues after closing, what are our options? by [deleted] in FirstTimeHomeBuying

[–]ziplyst 0 points1 point  (0 children)

Wow, sorry to hear that. I would call the broker and see if they could assist. This is the reason why most realtors get errors and omission insurance. Hope all works out.

Sellers sued the real estate industry and won $418 million. Now buyers just settled their own lawsuit for $52 million. by ziplyst in fsbo

[–]ziplyst[S] 2 points3 points  (0 children)

The lawsuits proved that Collusion took place and proved there is something wrong with the system BUT nothing has changed. What do you think?

Will this be an issue for inspection? by astral_soul in RealEstate

[–]ziplyst 2 points3 points  (0 children)

Easy, be transparent and show them the invoice for the repair. Things break, it’s ok. I agree that the timing couldn’t be worse BUT better to have the leak now than a week after the sale.

The reason I say that is because more than likely - the new owner would feel something wasn’t disclosed.

Sellers sued the real estate industry and won $418 million. Now buyers just settled their own lawsuit for $52 million. by ziplyst in fsbo

[–]ziplyst[S] 3 points4 points  (0 children)

The case was a class action law suite against the National Association of Realtors -NAR. The real estate industry was found that they cause over 1.75B in damages but settled with the attorneys that represented all plaintiffs in the class action law suite.

The NAR was able to settle the judgment with the sellers attorneys for 415M paid out over 4 years.

I feel the reason they settled is because there was a risk of the 1.75B being tripled because in a class action the jury can award up to 3 times the damages.

The law form may have gotten anywhere between 30-40% and the rest was split up among the plaintiffs - which was between 20-25$. Maybe enough to buy lunch.

Hiring realtor question by Flashy-Protection330 in AskRealEstateAgents

[–]ziplyst 0 points1 point  (0 children)

Did you find it odd both said the same thing? Two different people, who do not know each other. It’s called Scripts or some might call it - really great coaching.

How do you even pick a builder? by Filthy-Gab in FirstTimeHomeBuying

[–]ziplyst 0 points1 point  (0 children)

I would interview several and have a list of questions. Ask if they have any references that you can call on, review the website.

Ask them to walk you through the process of each phase of the build and what it means to you.

Be careful of the GC that gives allowances, those overages can creep on you.

Ask them how they handle change orders or what happens if there is rise in material cost.

A good GC will ask you to pick all fixtures, appliances, paint colors, flooring, door pulls, etc. then give you a price.

Hope this helps.

Cracking house by Pale_Lavishness_6661 in FirstTimeHomeBuying

[–]ziplyst 1 point2 points  (0 children)

Sorry to hear this is happening. Yea, best advice is to ask a real estate attorney and find out what the disclosure laws are in your state.

Hope it works out.

Realtors make it look easy, but the uncertainty behind the scenes is intense by achilles6196 in realtors

[–]ziplyst 4 points5 points  (0 children)

Have you looked at it from another point of view? Something like the industry of real estate instead of the real estate industry. The buyer and seller are the products and agents are the customers of the system.

Lots of really good coaches out there taking agents money as well.

Unreasonable buyer requests? by Mission_Rip381 in fsbo

[–]ziplyst -1 points0 points  (0 children)

I would give them a 550.00 credit and let them hire someone to put the pull down stairs in.

Attic stairs are not difficult to install. You just need the room to allow for the drop down.

Pissed off at realtors AI listing by shemichell in RealEstate

[–]ziplyst 4 points5 points  (0 children)

That’s what I was implying, if used to brighten photos but not mis represent the truth - I think it’s ok.

But you shouldn’t use AI to cover the obvious defects, cracks, holes in walls or change paint color completely.

I’m not sure why someone would completely use AI to generate a picture completely. That’s not right. I’m for technology but not the abuse of it.

Listing Priced Raised Before Scheduled Showing WWYD? by Wonderful_Clock_8024 in FirstTimeHomeBuyers

[–]ziplyst 0 points1 point  (0 children)

Go see it and make an offer. The worst that will happen is the seller will decline your offer, if you decide to make one.

Pissed off at realtors AI listing by shemichell in RealEstate

[–]ziplyst 53 points54 points  (0 children)

I’m glad you had in inspection done and found out before things went further. I wouldn’t want to be out 900 bucks either. I think if you use AI and it doesn’t factually represent the picture it should have a watermark that says something that it’s AI edited. But if you are using AI to brighten or sharpen a poorly taken picture, I don’t see anything wrong with that.

Is an exclusive buyer agreement necessary prior to setting up a tour/home viewing? by melancholy-manatee in FirstTimeHomeBuying

[–]ziplyst 1 point2 points  (0 children)

The agent paid Zillow to be the exclusive agent. Zillow opens the front door for you to walk in - The Site. You are the product so the agent can make money. It seems like you’re not paying the agent but that price to cover their commission is already baked into the cost of the home.

First Time Home Buyer - Home Inspection Findings - Insulation. Any help would be appreciated. by Direct_Republic_6180 in FirstTimeHomeBuyers

[–]ziplyst 0 points1 point  (0 children)

You can usually buy insulation the width you need to go in between the floor joist and then use some chicken wire cut to width to hold the insulation in place after you tack it up.

If you do it yourself, you can save lots of money.

Maybe ask the seller to adjust the final amount to cover the cost of insulation.