I've been selling Atlanta real estate for a number of years, and it is always interesting when a Atlanta home buyer wants to buy a home without an experienced buyers agent representing them. That is really odd, since there is no fee for this due from the buyer. The biggest mistake a home buyer can make is falsely believing is that they there is nothing to buying real estate. It's kid stuff! After all..."What you see is what you get!" Well I hate to dispel that myth, but there is a lot that you cannot see that will come back and bite you harder on the butt than anything else in life.
There is a reason the phrase "A home is the biggest single investment you will make in your lifetime!" The meaning of that phrase is "DO NOT TREAT IT LIGHTLY!" State laws reaffirm, 'Caveat emptor!" Buyer beware! As a consumer, you've been forewarned ahead of time by the state that there is a lot at stake! There's more to a real estate deal than taking 3% off the list price just because you do not have a buyers agent representing you.
A listing agent loves nothing better than to sell a home to an unsuspecting buyer without buyer agent representation! Cha Ching! I am talking sales tactics. The first reason is that even when you think you are getting a bargain, you are not! I am talking raw sales here. Listing agents, and their seller clients try to falsely pump up the value of their home in good times and bad. They would love for a buyer to use their refinance appraisal numbers from 2 years ago, an inspector they hired before listing the home, and their own lender. It would be a bigger plus if you have no one representing the buyer to enlighten them! Can you spell "F-R-A-U-D?'
In the years I've been in business, there are certain homes that cannot be given away. They sit on the market for years for one reason or another. Usually there is something major structurally wrong with the home. A cracked foundation slab, effervescence, no footings, major settling, EIFs / Synthetic stucco, polybute plumbing, flooding, insect or rat infestation. Most local agents have identified the problems, and move on. They have advised their buyers the home is not a good buy at any cost. What I've noticed over the years, most of these homes eventually sell but not as a foreclosure. To the untrained eye, they look fine. The local lawsuits that have been filed, tell a different story. The homes sit, sit, and sit a lot longer as word travels in the real estate community. However, they always sell when the right foolish buyer comes in (asking no questions) and sell when there is only one agent involved, the listing agent. The listing only responsibility they have under the law is to treat all parties fairly. The listing agent under a signed agreement with the seller, represents only the sellers interests. That is again reaffirmed in our GAR sales contracts unless there is any other notification or a addenda in the contract that spells out something different. In real estate it could also be referred to as "Don't ask, don' tell!" If the buyer does not ask certain questions, the agents will not volunteer it. Agents should comply with state law, and disclose all known facts, but what if their language is ambiguous? They must disclose all known material facts, but what if you do not explore their disclosure further? What if you do not know the next question to ask the agent? What happens when you trust a person that cannot be trusted?
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