Neighbor101212 Wrote:
Hi. We're are planning to place a bid on a home soon, without using our own realtor. Does anyone know of a real estate expert who would help us write up the bid, or at least take a look at it to make sure we've covered everything? thanks!

Neighbor105412 Wrote:
I am sure there is someone who will do it for you for a fee. The short of it....google "Real estate bid writing"

Neighbor105331 Wrote:
Typically the seller pays the commission of the buyer's realtor. Unless you have some special deal lined up, getting your own realtor probably has no down side for you and can definitely be helpful sometimes.

Neighbor105440 Wrote:
An attorney may be an option. In Illinois, every real estate transaction had both realtors and real estate attorneys and the attorneys wrote the bid (in my sale, the attorney did all the negotiation and attended paper signing, etc). In California, I'd guess it might be cheaper to get your own realtor.

Neighbor105498 Wrote:
Bids that I remember writing have a place that includes commission for buyer and seller agents. If you bid lower with the same commission going to seller agent and same price resulting to seller, I'd say that's an upside. I've been thinking along the same lines for my parents who are interested in putting in a bid. But I'm loathe to dispense with that part of the professional advice that goes along with writing the bid (as opposed to finding a suitable place). Willing to pay for that, at a substantially discounted rate than that of a Realtor. And not tied to sales price. So if you get any leads on this (Real Estate Lawyers?), I'm interested.

Neighbor105377 Wrote:
in this day and age pay the 200 dollars and have a lawyer look it over. half of these realtors have not a clue what a legal document is.

Neighbor105498 Wrote:
Bids that I remember writing have a place that includes commission for buyer and seller agents. If you bid lower with the same commissiongoing to seller agent and same price resulting to seller, I'd say that's an upside. I've talked to several realtors who will do what they can to scuttle a purchase unless there are two realtors involved. It's illegal to fix the commission rate, which is supposed to be negotiable, but... oh, well. I've also known people who tried to get a 3% discount by not using theirown realtor and assuming the seller's realtor will split the 6% commission, but the seller's realtor probably already has a contract with the seller that gives him the entire 6% if that realtor finds a buyer. Unless there is another realtor involved, the entire 6% is 'owned' by the seller's realtor (at least in their mind, and perhaps legally depending on the contract between seller and seller's realtor). I got burned on my first house by a realtor who refused to make the bid Iwanted to make. Too low, he said. I found out later that he KNEW it was a 'distressed' sale, and they WOULD have taken the lowball offer, but then his commission would have been less. When I found this out, he explained the whole 'agent of the seller' thing, and I got a $20,000 education. Did you know that (by CA law) both the buyer's and seller's realtors are agents of the SELLER only? That means they both have a duty to act in the best interest of the seller (e.g. maximize the sale price). It also means NEITHER of them have a legal duty to act in the best interest of the buyer. You can, and I now do, sign an 'Agent of the Buyer' agreement that makes your realtor YOUR agent acting only on YOUR behalf. This must be disclosed to the seller, but without it no one is acting on your behalf (legally).

Annette Wrote:
I am a local agent. If you are making a bid on a forclosure or short sale, investigate, investigate, investigate, before bidding! If your looking at just a home for sale, please make sure to look at all reports and inspections that are available. Make sure that the Seller has filled out the standard forms for disclosure of the property such as the Transfer Disclosure statement. There are basic disclosure documents that are required by law that Sellers have to provide, Also if threre are no seller reports like a termite or home inspection, spend the money and do your own should your offer be accepted. If you are bidding on short sales or forclosures, have a title and escrow company run a report to make sure their are no tax liens or local liens from contractors, or old mortgages, personal loans.A title report will also tell you if the person selling the home actually has the right to sell it. If you buy something AS IS make sure you exercise all your rights to inspect and investigate before buying! If you need someone to just look over the paperwork, I would be happy to help, NO CHARGE-it doesnt take long to make sure all the proper items are included in your offer, I also have great termite inspectors, and home inspectors to help you should you need them. A buyers agent makes their money from the Sellers proceeds, no buyer's agent locally charges buyers a fee that I know, but if it means making sure my neighbor doesnt get ripped off, I am happy to do the favor, that way I can sleep at night. Not all realtors are out for the bucks. Most just want to help . Good luck! Buying a home is exciting and still a terrific investment.

Anjanette Bixel Wrote:
Dear Flip, There are a few inaccuracies in some of the responses. As a Realtor, I'd like to clear some of them up. Unless you are a licensed Real Estate Agent, you will not receive any portion of the commission. You may receive other monies, such as credit back for work that needs to be done, or for other reasons. Yes, the Seller generally pays the commission - all of it, but there is a form we refer to as The Agency, which outlines the duties of the Buyer's Agent, and the duties of the Seller's Agent. We, as your agent have a fiduciary responsibility to you our client, whether representing the Buyer or the Seller. Those responsibilities are polar opposites of each other, which is one reason why, in most cases, I disagree with agents representing both sides. It's like a lawyer trying to prosecute and defend in the same lawsuit. Who's side are you on? Sadly, some Buyer's Agents do push toward offering higher prices for a higher commission. Those are agents who do not understand that this is a life long career. If you're in it just for one deal per client, you'll be out of business in no time. My personal goal is to provide excellent service and build a relationship with my clients so that they feel confident in referring me to others. In the grand scheme of things, a buyer offering another $10,000-20,000 is really small beans in my pocket and not worth risking the relationship. In the current market, there are many opportunities to negotiate. And, there are many short sales (pre-foreclosure properties) on the market. These transactions ofter offer very low commissions to the agents (both sides). It is a long and drawn out process and I would strongly advise against doing that on your own. I am happy to refer you to a real estate attorney. Erin McDermit, Esq. could refer you to the right person in her office ay Thoits, Love, et.al.: (650) 327-4200 (she personally handles employment law). But even a lawyer will tell you that they are not always familiar with local disclosures (they vary from city to city). And though they represent clients in real estate related lawsuits, they don't often actually write the contract, nor are they fluent all the many steps of a transaction. You're welcome to call me for more information: 650-931-2950. You don't have to use me, but please seriously consider using a Realtor. Before I was licensed, I sold my home without an agent. In retrospect, I thank my lucky stars that I wasn't sued for missing something somewhere or not completing all necessary disclosures. And I also realize I could have gotten much more for my house. (I wasn't trying to save the commissions, I just couldn't afford to the pay them - short sale). Best of luck to you, Anjanette K Bixel Real Estate Professional Alain Pinel Realtors - Burlingame 650-931-2950

Neighbor101212 Wrote:
Thanks to all of you with your advise and recommendations on the Real Estate bidding. We were able to place our bid successfully for our house. We did use a realtor just to make sure we used the right documents and include all requirements and so far so good. Onward to closing!

Rugby14 Wrote:
Try Martin Plack at www.placklaw.com. Martin is an attorney and a licensed real estate broker.