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Author Topic: Selling house  (Read 660 times)
SCacalaki
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« on: Mar 30, 2010 at 18:45 »

I am sorry to knock preach's much more important prayer request from the top of the gen. forum.

But looking for advice or suggestions as I attempt to sell my first home and move the fuck out of Baltimore City.

I rec'd a contract from an agent today...so far it seems relatively straight forward.  Asking for 5% brokers compensation of the sales price plus a few hundred for something else that I've yet to determine.  Is 5% reasonable?

Also, I see where the contract language states that the broker may work with a subagent and pay the subagent 2.5%.  The area for payment to a buyers agent is blank...is it typical to not specify in the contract with the broker the payment to the agent for the buyer?

Buying was tough...trying to sell appears to be a more daunting task. 

We thought about moving into an apt. while we shopped the house (even thought about renting the house) but have decided against it due to the expectation that the house will be on the market for a while.

Any advice or suggestions (or stories of past selling experiences) are appreciated.
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SCacalaki
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« Reply #1 on: Mar 30, 2010 at 18:52 »

Nevermind...the few hundred dollar X fee turns out to basically be the cost of marketing the house and other overhead costs for the company.
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« Reply #2 on: Mar 30, 2010 at 20:30 »

Around here the agent fee is generally 6%, half goes to the listing agent and the other half to the sales agent; it could be one person or two.  However they handle fees to their workers (sub agent?) is up to them.  Beyond that expect to see skads of fees although generally, it seems like the buyer is the one hit with lots of fees for title searches, points for financing, etc., less so the seller.  We've only bought two and sold one so that's about all I have for ya, sorry!

I bet this is all right up Brinkers alley.  Well, maybe not the sales.  It's in his ballpark though.

Good luck though.  Who knows how long it'll take?  It's a funny thing.
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« Reply #3 on: Mar 30, 2010 at 20:45 »

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But looking for advice or suggestions as I attempt to sell my first home and move the fuck out of Baltimore City.

I think Porter's girlfriend is looking for a place. 

poke
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Brinker
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« Reply #4 on: Mar 31, 2010 at 08:01 »

I am sorry to knock preach's much more important prayer request from the top of the gen. forum.

But looking for advice or suggestions as I attempt to sell my first home and move the fuck out of Baltimore City.

I rec'd a contract from an agent today...so far it seems relatively straight forward.  Asking for 5% brokers compensation of the sales price plus a few hundred for something else that I've yet to determine.  Is 5% reasonable?

Also, I see where the contract language states that the broker may work with a subagent and pay the subagent 2.5%.  The area for payment to a buyers agent is blank...is it typical to not specify in the contract with the broker the payment to the agent for the buyer?

Buying was tough...trying to sell appears to be a more daunting task. 

We thought about moving into an apt. while we shopped the house (even thought about renting the house) but have decided against it due to the expectation that the house will be on the market for a while.

Any advice or suggestions (or stories of past selling experiences) are appreciated.

I would have to know some specifics on the house...address, listing price, etc.  Then I could give you some advice on the best way to sell it/market it.
Email @ jbrinker@homeloansmatter.com with the info.

I can help.
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« Reply #5 on: Mar 31, 2010 at 08:02 »

Right off the bat--do not move twice if you do nto have to.  Are you buying a new house while your current one is on the market?
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SCacalaki
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« Reply #6 on: Mar 31, 2010 at 11:02 »

Right off the bat--do not move twice if you do nto have to.  Are you buying a new house while your current one is on the market?

We don't plan to buy another house until the current one is sold.  What we were thnking of doing was moving into an apartment townhome closer to DC, based mostly on my wife's crappy commute between Baltimore and DC.   But moving back to apartment life just wasn't appealing and we've decided to stick it out at least for the next six months.

Also, not paying a mortgage and a apartment rental payment is a perk, though we had seriously thought of renting out our current home.  Would have had to pay multiple moving costs, etc.  I felt much better once we decided to stay put, at least for the next six months.


I'm on a quick lunch break so I'll e-mail later tonight but I know you get paid for this stuff and don't want to take up much of your time.  I just didn't know if the % and nominal fee were way off-base, if I should shop around for agents/brokers, etc., havning not done this before.

Thanks!
« Last Edit: Mar 31, 2010 at 11:14 by SCacalaki » Logged

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« Reply #7 on: Apr 01, 2010 at 11:35 »

We sold our house in January (brag), but it had been on the market for over a year (anti-brag).

I think I had mentioned it before, but I'm not sure which forum I posted it on, that we bought land and were in the process of building our new home.  In the interim and in the interest of getting our kids into the great school system in the new town, we are currently renting a home.  Adding the extra move sucks Randy Marsh's Hippity Hop sized testicles, but we had no choice.

Broker's fees are pretty area specific, I believe.  We were fortunate that our agent is one of my best friend's wife so we only paid 4% (half to selling agent, the other half to the buyer's agent).  If not for that, I'm pretty sure we would've had to pay 5-6%.  I've even heard some agents charging 7% and over where we live, but that's just fucking redonkulous.  No way I'd pay that much without a few comp BJs and maybe a handy or two between viewings...depends on what she looks like though.

Let me know if you need anymore info either via this thread, PM or e-mail.  E-mail is probably best as I haven't had as much of a chance to browse the forum lately with everything going on.
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« Reply #8 on: Apr 09, 2010 at 18:40 »

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But looking for advice or suggestions as I attempt to sell my first home and move the fuck out of Baltimore City.

I think Porter's girlfriend is looking for a place. 

poke

Oh you mother fucker.  I just saw this ya dick!!!!!
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otismalibu
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« Reply #9 on: Apr 09, 2010 at 19:01 »

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Oh you mother fucker.  I just saw this ya dick!!!!!

Even the Georgia Bureau of Investigation had already found this thread?

Time for a MGS intervention.
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