Real Estate

Okay so if a homeowner hires a realtor to sell their home just the regular way, does the homeowner make any money off of this sale? Or does all the profit go to the realtor and his/her company?

The Realtor contracts with the seller for either a fixed fee or a percentage of the sale price.
You needn’t let him dictate the all conditions of your contract with him..
Another important factor is whether the listing is ‘exclusive’ to one Realtor or not.
You can get several to compete to bring you the best price.
The fee is negotiable, as are contract conditions, so haggle and this is one of the
biggest deals you will ever do so know what you’re signing.
( An hour’s briefing on what to watch out for, from a local Real Estate Lawyer
would be a good investment. A couple of hundred that could save you thousands.
Listen and take notes.)

My husband & I are looking to rent a house and are thinking about going to a realtor to aid in our search. What are the pros and cons.

Some Realtors specialize in this. Most do not think there is enough money involved to do this. But their pay comes from the landlord- you would not be paying.

My boyfriend and I are in the process of buying a home and have no idea what to do, so I’m thinking a Realtor would be a good choice at this point. Realtors seem to be a dime a dozen so I have no idea which to choose. Does anyone know of a good Realtor in the Orlando area? Or maybe a website that compares Realtors? Any advice would be much appreciated.

Before you move, contact a realtor who works in your area. Ask them to run a search of properties that have sold in the last 6 months in the area you want to move to. Tell them to give you the names of realtors who have represented the most properties that have closed within that 6 month period. This will be a great list of names of experienced, and successful realtors to help you find a house.

I am looking for tips on what questions I should ask a realtor when I am looking for a home. I am also looking for tips on what questions I should ask when looking to get a home loan. I am a first time buyer. So any helpful tips will be appreciated.

First of all, find out WHO she is representing. Is she working for you, the seller or neither?? Don’t give away much info if she says "the seller" since it is her duty to let the seller know everything she knows about you (like if she knows you’ll pay more or if you have bad credit) Ask her to represent you…most will be happy to at no fee to you but you have to ask. She can also point you in the right direction for a loan. Make sure you get a Realtor who has experience and a good reputation. Ask bank tellers and lawyer’s office help or the store clerk. There are a lot of good loans out there for first time home buyers. Your Realtor can arrange things for you.

How can I buy a condo from someone without a realtor?

I am thinking to buy a condo from my friend’s classmate’s girlfriend. She owns the condo. Can we handle the whole purchase process all by ourselves without a realtor? How can we do that? What should we do ? what’s the procedure ? Or we have to find a realtor ?

Thanks a lot! Praying for Haiti!

No, you don’t have to have a realtor to make this transaction happen. You can have an attorney assist you with the property purchase. Be sure to hire an attorney that has extensive experience with property transfers, as this area of law can be rather complex, and you want to be sure that everything goes smoothly.

What information can a realtor hide from you if the realtor has been made aware of it.

A Realtor® is a licensed real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics, which obligates Realtors® to be honest with all parties involved in a transaction, whether it is the buyer, seller, or cooperating agent.

A Realtor® may not disclose personal information about the seller if the seller wishes to have that information withheld. For example, the seller may wish to withhold information about a pending foreclosure, a recent divorce, recent death of spouse, loss of job, pending transfer….anything that my imply an urgency to sell.

Whats required to become a realtor in the state of NC. Are there any classes I have to take?
Rose, I don’t understand what you just wrote.

Here is everything you need to answer the question:
http://www.ncrec.state.nc.us/
You have to take classes and state exam to become licensed.
Check out the website for all pertinent information.
Good luck!

I’m a realtor, and I sold a house to a client a few weeks ago. It will close in another 2 weeks from now. Suppose I die between now and scheduled closing. Would the sale fall through, or would my employing broker be re-assigned as the buyer’s agent?

The sale is really with the broker, you are jusst an agent of his.

He would have to finish the transaction himself, he can not legally delay it because of this.

There is no re-assign here, it was always the brokers deal.

The complex has a sign that says no soliciting… but someone said that just meant people going door to door selling stuff. This was just a flyer for another realtor promoting themselves, wouldnt an apartment complex get ticked off at this?

No it is not illegal for anyone to leave a flyer for their services, Now if they were to knock on your door and want to try to sell you something and your neighborhood or apt complex has a no solicitation sign,then that is another matter. You really couldn’t do much but complain to the apt complex and let them notify whoever it was who left the flyer.

How can I buy a condo from someone without a realtor?

I am thinking to buy a condo from my friend’s classmate’s girlfriend. She owns the condo. Can we handle the whole purchase process all by ourselves without a realtor? How can we do that? What should we do ? what’s the procedure ? Or we have to find a realtor ?

Thanks a lot! Praying for Haiti!

Two things:

1) Why would you not want to use a realtor? There’s no charge to you, the buyer. All costs are paid by the seller. You will need a real estate attorney otherwise, if doing a transaction by owner. The seller should definitely pay those costs, because they will be far less than real estate commission if using a realtor.

2) More importantly, why in the world would you want a condo? Do you have any idea what you’re buying (or not buying) when you buy a condo? In a nutshell, you’re just buying air. You don’t own one wall or any part of your unit of the building. You only own the space inside the unit. Yet you will still be liable for property taxes. That’s right, you’re paying property taxes when you don’t own any real property or anything tangible. In addition, you’re paying a monthly association fee that can be as much as $200 a month, something you wouldn’t have if you bought a house. That $200 a month is much more than it would cost you to hire lawn/snow maintenance for your house. I would advise you to reconsider any condo purchase, and seriously look into buying a house. There are plenty of good deals on houses out there in this market.