Real Estate

If I am selling a house for $35,000 and the buyer is getting a loan for $10,000 more ($45,000), which number should the agent commission fee be based off of? the $35k or $50k?

It may sound silly, but what regulation would I find this information? When I go back to the agent, I will need to site a good source. Saying I got it off "yahoo answers" doesn’t sound that good.
The commission is 6%, I am asking what the 6 % is based off, it seems the sale price.

The real estate agent gets the commission off the price of the house, not the size of the loan. If the buyer had a substantial amount of cash on hand to use as a down payment and borrowed $10,000 less than the price of the house I assure you the real estate agent would ask for the commission on the price of the house not the size of the loan. They can’t have it both ways.

So I can compare what it sold for previously and when, what they have updated and what they are asking for it now, so I know what to offer. Thanks

That is in the MLS, you agent can get it, it is not public.

I accepted an offer for my house 3 days ago. But things have changed and I no longer want to sell. The potential buyers paid a $500 earnest deposit to their realtor other then that the home inspection is due to take place tomorrow. Can I decide at this point not to sell and keep my house?
I accepted the offer with a POA (power of attorney) from my husband who is away. No one took a copy of the POA. I have agreed to paying $1000 towards any repairs found by an inspector, but I agreed to this thinking that this money would be given to the buyers at closing. Not knowing that the repairs would have to be done prior to the closing. I only found out about that after the counter offer had been already accepted. Now it seems like I am going to be out alot more money then originally thought not to mention my children don’t want to move. I just don’t know what to do.

With you only accepting the contract 3 days ago I am assuming that there are still contingencies on the contract. There are contingencies on your contract for things like attorney review, inspection, mortgage contingency. You should have like 5 days for you attorney to review the contract and give the go ahead on whether to go forward or not. That might be an out because if you have 5 days for the attorney to review the contract and they do not respond within that time period then the contract is voidable. Also if the inspection comes back unfavorable and they ask for a credit for the repairs then that is another opportunity to just turn it down flat and walk away. In short contingencies are the only way that you can get out of your contract. Hope I helped.

As everyone knows that current world crisis have disturbed economical condition of every country. But now the recovery is being seen. now i wanna ask that have realestate market started to flourish espasially in UAE, US and other big realeste markets?

There is no unified world wide real estate market. When you buy a property it is worth what it is because of its location. The jobs in that area- the laws- the government incentives- and hundreds of other things.

Even within a small shopping center the value of one store front is much different form the value of the next because of a little better location.

I am going to open a Real Estate Brokerage In the Kern River Valley Ca. It is a beautiful area with a lake, river, and surrounded by mountains and a diverse terrain. Everything from trees to desert, every name I come up with is already taken or not suitable.

How about : River & Valley Real Estate Brokerage
or Lake,River & Valley Real Estate Brokerage or Trees To Dessert Real Estate Real Estate Brokerage or just use : Your Name Real Estate Brokerage

Hope this helps.

Good Luck

All commissions are negoitable and some brokers may have a menu of services, that could include an hourly rate, this may also be true with a real estate attorney.

Remember what you are paying for is a level of service and in the end results.

I would personally interview multiple brokers and ask the tough questions,

1. How long have you been in business.
2. I would like to see a list of your personal solds in the past year? in my neighborhood?.
3. Can I see your website?
4. What professional designations to you hold?
5. Give me an multiple examples of your marketing such as realtor.com, local media,
6. Do you promote in an extended area and if you do, give me an example.
7. References from your last 6 Sold’s

What I suspect is the cheapest will be limited in the answers from the above.

Real Estate is much more than placing a sign in front.

i want to buy a house and i always here about people get a good deal cause they bought a forclosure house. how do i get that info.

Depends on where you are looking? If you want to stay in your local area the best place to go is the county clerks office or your county real estate office. There is where they will have all the public notices.
Feel free to contact me via the information below.
Jenold Freeman
C.E.O. Justgetaloan.net
jfreeman@bourdeaufinancial.com
866 530 7300
Dont forget to log onto www.justgetaloan.net Americas home for real estate financing needs. For the best in rates, loan programs and service. Remember no matter what the situation; Can’t we all just get a loan?

I want to make sure someone is legit that will help me reduce the
loan on my home

Go to your state’s website and find the professional license area. Search real estate salesperson licenses. You should be able to look up the license and they will provide you status including when it will expire and what Broker holds the license.

I’m planning on moving to San Anotnio to renevate and sell houses and keep some of them for rentals. Does anyone have some info that leed me in the right direction? Also How is it living in SAn Antonio?

Hi Jessica, I live in San Antonio and the real estate is cooling off but not experiencing the drop in real estate market like in Dallas and other cities. People will say "NORTHSIDE! NORTHSIDE! NORTHSIDE!" but I think it’s a overbuilt market that is very susceptible to the overall national downturn in real estate. There are actually some great fixer uppers in the Southeast side. Any neighborhood along I37 south of Southcross out towards Military Drive. Good deals to be made down there. I also suggest checking out neighborhoods in the NOrth Central area. That would be north of downtown, East of I-10 but West of Hwy 281 and no farther North than about Basse Rd.

Also check out www.sareia.com

It’s the website for San Antonio Real Estate Investor Association. It’s basically a business association catered to people like you (and hopefully me one day).

Good luck. I love living in SA. I’ve lived in other towns but San Antonio is my home.

do realestate have anything to doo with make…4 example..the person thats selling the house do they have to deal with math?

no, you don’t really need to know that much math. you will have to MEMORIZE things such as how many feet are in a mile, but only for the real estate exam.

marketing real estate SHOULD involve you really and truly wanting to help PEOPLE. some of that will require you to learn a few little math tricks, but you just buy a calculator and have the mortgage broker that you like, who is reputable and caring also, give you a little card that will give you applicable rates, so it’s easy to figure out the principal and interest charges on a mortgage per month. it is so easy!

as for comparables: the computer does all the work. you have to get to know the BUSINESS of selling real estate, which has everything to do with people skills and high ethics. your business will be easy if you attain a good reputation immediately. your clients will send you clients (ask them to), and so on. then you do not always have to search for new business.

the real estate field is only this: service, service, service for people, people, people, who want location, location, location. that is all it is. the better you understand that, the better you will be in the business. if you need to understand math for some client’s question, you tell him you don’t know the answer right then and there, but will be happy to call him immediately after you talk to your manager. the broker manager where you work will show you how to calculate whatever figure he wants. then you call him, that same day, with what you promised you’d get for him. that is called SERVICE.

ethics come into play because the most important thing for you to do as an agent is to act as an AGENT (look that word up in a few dictionaries). that means that you always put the interests of your client ahead of your own. you protect your client, who is sometimes a seller and sometimes a buyer, and occasionally (this one can be tough) a dual agent for both parties. you get help from your managing broker in such a situation and handle it carefully. remember: it is the client that counts. you will count soon enough, when you close the deal, but before then, all that counts is your service to your client.

i wish you all the luck i can! this is a very stressful business. you never know from one year to the next how you will continue to live. some years are lean, some are fatty. save money from those that are fatty!