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- This topic has 4 replies, 3 voices, and was last updated 16 years, 9 months ago by SD Realtor.
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June 9, 2007 at 2:49 PM #9258June 9, 2007 at 3:02 PM #58136trexParticipant
Be straight with him. Tell him he’s getting low balled, but if he really wants to let it go that cheap, you’ll give him $310k. Or, if you really think it’s a good deal or really care about the guy, make him an offer that won’t expire for two weeks or so. He can try to get the great big offer, when he doesn’t he’ll appreciate that you (a) gave him that chance and (b) paid a little more than the bottom feeder.
I think friends are worth alot more than money, and mixing the two always carries risk.
June 9, 2007 at 3:02 PM #58163trexParticipantBe straight with him. Tell him he’s getting low balled, but if he really wants to let it go that cheap, you’ll give him $310k. Or, if you really think it’s a good deal or really care about the guy, make him an offer that won’t expire for two weeks or so. He can try to get the great big offer, when he doesn’t he’ll appreciate that you (a) gave him that chance and (b) paid a little more than the bottom feeder.
I think friends are worth alot more than money, and mixing the two always carries risk.
June 9, 2007 at 5:32 PM #58146SD RealtorParticipantBusiness is business… That is why as a landlord I would never rent to family or friends.
If you want to do your friend a little bit of a favor tell him you will offer him the 300k and you will buy the property without representation. Thus your friend will not have to pay the commissions to the buyers agent, nor will he have to pay the commissions of a buyers side to his listing agent. So you will be getting a better deal for your friend. Of course his listing agent may not like to do a transaction with a buyer who is not represented. This opens the listing agent up to liability issues.
Also don’t raise a stink if in the future you find out something bad about the property. It is entirely up to you to perform all the necessary due diligence without representation.
I have done a sale where I represented the listing side and the buyer was not represented. However the buyer was a contractor and he ended up doing more due diligence then many buyers I have seen represented by the big name full service brokerages. However, if it was just some guy on the other side, I probably would not risk it as a listing agent. To much to lose.
Anyways, you can give it a shot to see if it works. Can’t hurt right?
SD Realtor
June 9, 2007 at 5:32 PM #58173SD RealtorParticipantBusiness is business… That is why as a landlord I would never rent to family or friends.
If you want to do your friend a little bit of a favor tell him you will offer him the 300k and you will buy the property without representation. Thus your friend will not have to pay the commissions to the buyers agent, nor will he have to pay the commissions of a buyers side to his listing agent. So you will be getting a better deal for your friend. Of course his listing agent may not like to do a transaction with a buyer who is not represented. This opens the listing agent up to liability issues.
Also don’t raise a stink if in the future you find out something bad about the property. It is entirely up to you to perform all the necessary due diligence without representation.
I have done a sale where I represented the listing side and the buyer was not represented. However the buyer was a contractor and he ended up doing more due diligence then many buyers I have seen represented by the big name full service brokerages. However, if it was just some guy on the other side, I probably would not risk it as a listing agent. To much to lose.
Anyways, you can give it a shot to see if it works. Can’t hurt right?
SD Realtor
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