Oh, good grief:<\/p>\n
I’m under contract to buy a FSBO. Since the seller and I are doing this without using realtors, I’ve been researching on the internet to make sure I do everything that a realtor would tell me to do. I hired an inspector, and just got his report back. He found a lot of things wrong! Some are little, but some are pretty important like problems with the electricity and slab. I think I’m getting a great deal on the price, but with this much wrong, I’m not sure. How much is too much wrong to accept? BTW, I bought the house knowing it would need alot of handyman type of repairs, and I’m looking forward to that.<\/p><\/blockquote>\n
I think this is a marvelous example of why no one should buy a home without professional representation. Are you buying a white elephant? You don’t know. Are you paying too much? You don’t know. Are the repairs going to clobber you? You don’t know.<\/p>\n
Let’s assume you’re paying market value for the home and that the seller is willing to undertake reasonable repairs. For a well-maintained house in the Phoenix-area, the cost of repairs shouldn’t come to more than 2% – 3% of the purchase price. If we get north of 5%, I’m ready to run — or at least renegotiate the price.<\/p>\n
But suppose you’re buying this fixer at what you think is 20% under market, while the repairs are looking to be less than 10%. That might be a smokin’ deal.<\/p>\n
In your place, I might cough up the money to hire a very experienced Realtor to evaluate your situation. If he likes your deal, you’re probably fine. If he says, “Walk away,” I think you should run away instead.
\n<\/p>\nTechnorati Tags: arizona<\/a>, arizona real estate<\/a>, phoenix<\/a>, phoenix real estate<\/a>, sellsius 101<\/a>, real estate<\/a>, real estate marketing<\/a><\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Oh, good grief: I’m under contract to buy a FSBO. Since the seller and I are doing this without using realtors, I’ve been researching on the internet to make sure I do everything that a realtor would tell me to do. I hired an inspector, and just got his report back. He found a lot […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,6,5],"tags":[],"class_list":{"0":"post-458","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2905,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2905\/ask-the-broker-what-relationships-must-be-disclosed-in-a-real-estate-transaction-and-what-are-the-consequences-if-they-arent\/","url_meta":{"origin":458,"position":0},"title":"Ask the Broker: What relationships must be disclosed in a real estate transaction, and what are the consequences if they aren’t?","author":"Greg Swann","date":"April 5, 2008","format":false,"excerpt":"We haven't done one of these in a while. We get a lot of really good questions, but, for most of them, the answer is the same: \"You need to talk to a really good real estate attorney in your jurisdiction.\" This one is different, with a couple of interesting\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15714,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15714\/ask-the-broker-has-going-fsbo-lost-its-fizz\/","url_meta":{"origin":458,"position":1},"title":"Ask the Broker: Has going FSBO lost its fizz?","author":"Greg Swann","date":"February 21, 2012","format":false,"excerpt":"This came in over the transom. I'm not answering the whole question. To say the truth, I feel as if I'm being shopped with every conceivable infraction in the HUD handbook. So, you, too, please do also exercise restraint on the subject of commissions. For all of me, the FSBO\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1999,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1999\/ask-the-broker-how-can-the-seller-paying-the-buyers-brokers-commission-be-fair-to-the-seller\/","url_meta":{"origin":458,"position":2},"title":"Ask the Broker: How can the seller paying the buyer’s broker’s commission be fair to the seller?","author":"Greg Swann","date":"October 3, 2007","format":false,"excerpt":"Here's a truly fascinating question from an agent working in Nassau County, Long Island, New York. The idea of buyer brokerage is just being introduced there, and our interlocutor is understandably mystified:I am a bit confused, to say the very least. If I write up a listing contract with a\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7780,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7780\/do-something-even-if-its-wrong\/","url_meta":{"origin":458,"position":3},"title":"Do something even if it’s wrong!","author":"Chuck Marunde","date":"April 11, 2009","format":false,"excerpt":"I love the old cliche, \"Do something even if it's wrong!\" I am a broker who needs to be creative and diligent in connecting with buyers and sellers, and rather than sit around scratching my bald head, I decided to launch my own small town online newspaper. I have a\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":760,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/760\/ask-the-broker-can-i-call-the-listing-agent-on-the-carpet\/","url_meta":{"origin":458,"position":4},"title":"Ask the Broker: Can I call the listing agent on the carpet . . . ?","author":"Greg Swann","date":"December 12, 2006","format":false,"excerpt":"I made an offer for a listing that stated the place has \"brand new carpets\" (not newer or new, clearly \"brand new\"). I found out after asking many times and when it didn't make any difference money-wise that the carpet was installed when the seller moved in which is 1.5\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":433,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/433\/blogoff-post-56-ask-the-broker-what-should-i-look-for-when-im-evaluating-a-neighborhood-to-buy-in\/","url_meta":{"origin":458,"position":5},"title":"Blogoff Post #56: Ask the Broker: What should I look for when I’m evaluating a neighborhood to buy in . . . ?","author":"Greg Swann","date":"September 26, 2006","format":false,"excerpt":"This is hard, so I'm going to make it easy:What should I look for when I'm evaluating a neighborhood to buy in?Because of the Fair Housing Laws, this is actually a difficult question to answer. I can give you some useful hints, though. Visit your prospective neighborhood at 9:30 at\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=458"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/458\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}