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_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":"","jetpack_post_was_ever_published":false},"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":448,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/448\/blogoff-post-71-ask-the-broker-so-what-about-the-swanky-house\/","url_meta":{"origin":458,"position":0},"title":"Blogoff Post #71: Ask the Broker: So what about the big, swanky Realtor’s house . . . ?","author":"Greg Swann","date":"September 26, 2006","format":false,"excerpt":"This is me, confessing:So you drive a crappy little car. Your real secret is that you live in a McMansion, right?Wrong. Our home would be described as modest -- if only it were bigger. We bought it for the dogs, more than anyone. It has many wonderful features that we\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":1},"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":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":2},"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":3},"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":2446,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2446\/attempted-censorship-of-a-real-estate-blogger-in-virginia\/","url_meta":{"origin":458,"position":4},"title":"Attempted Censorship of a real estate blogger in Virginia","author":"Jim Duncan","date":"December 29, 2007","format":false,"excerpt":"Right or wrong?\u00a0 What do you think?","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":649,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/649\/dual-agency-smack-down-a-category-11-hurricane-of-arguments-against-disclosed-dual-agency\/","url_meta":{"origin":458,"position":5},"title":"Dual Agency Smack-Down: A category 11 hurricane of arguments against Disclosed Dual Agency . . .","author":"Greg Swann","date":"November 17, 2006","format":false,"excerpt":"I'm going to stir up a category 11 hurricane by basing my initial entry in the Dual Agency Smack-Down on our past posts on the subject. Cathleen and I have dealt with this topic at great length in the past, so it seems reasonable to reinforce our arguments by revisiting\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"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}]}}