Re: communities that handle property buys and sells internally? | <– Date –> <– Thread –> |
From: Kathryn McCamant (kmccamantcohousing-solutions.com) | |
Date: Fri, 18 Oct 2019 15:59:29 -0700 (PDT) |
Home sales are regulated differently in every state. Some require an attorney, or closing attorney, and others don't. In my community, Nevada City Cohousing in Nor Cal, we have seen homes sales in a variety of formats, but never with the community in the middle. I just closed on a new home in my community without either a real estate agent or an attorney. It was a sale between two original members, so we worked out a contract and took it over to the title company for the closing...all went very smoothly even as we worked thru a rent back. We have also found a couple of local relators that will facilitate the contract and closing for a reduced fee of 1/2 - 1 % (instead of the typical 6% split between the seller and buyer agents), but that is only if seller and buyer have already fully agreed on price and terms and are ready to go into contract, with no complications. And then I have neighbors that decided it was worthwhile to have their own realtor representing their interest, with the buyer having their own realtor like a more tradition sale. If you talk with realtors and loan brokers that have worked with cohousers, they generally say we are pain-in-the-butt clients: asking tons of questions, wanting to look at every possible option in detail, and then expecting discounts on standard fees. Buyers have often complained that trying to work with a cohousing seller without a realtor nearly killed the deal (and who knows how many it did kill). Katie -- Kathryn McCamant, President CoHousing Solutions Nevada City, CA 95959 T.530.478.1970 C.916.798.4755 www.cohousing-solutions.com On 10/18/19, 3:41 PM, "Cohousing-L on behalf of Alan O'Hashi via Cohousing-L" <cohousing-l-bounces+kmccamant=cohousing-solutions.com [at] cohousing.org on behalf of cohousing-l [at] cohousing.org> wrote: ann - some communities handle the real estate transactions and ‘collect’ reduced commissions that would otherwise be paid to real estate agents. is this common, and / or can sellers use their own agents? Alan O'Hashi - Cyber Office Views from Behind the Lens www.alanohashi.com Colorado..303-910-5782 Wyoming.307-274-1910 Nebraska.402-327-1652 > On Oct 18, 2019, at 3:31 PM, Ann Zabaldo <zabaldo [at] earthlink.net> wrote: > > Alan — I’m wondering if I understand the question correctly — are you talking about For Sale By Owner (FSBO) model home sales? Using this model you eliminate the need for an agent thereby saving 6% commission on the sale of the home. If so, what would be the purpose of retaining a Real Estate agent? You would just be incurring an agent’s fee as an expense. Is it to feel safe accepting a contract? You can have a lawyer review the contract for under $250 instead of committing thousands to an agent. If a seller is worried about getting all the paper work together in time for the closing … a closing agent does all that — either a real estate lawyer or a title company. In a FSBO the seller has to handle relatively few pieces of paper. Almost everything will be pulled by the condominium management in the case of a condo sale or as I said … the settlement entity will handle the paper. > > Best -- > > Ann Zabaldo > Takoma Village Cohousing > Washington, DC > Member, Board of Directors > Mid Atlantic Cohousing > Principal, Cohousing Collaborative, LLC > Falls Church, VA > 202.546.4654 > > "Handle every situation like a dog. > If you can’t eat it or play with it, > Just pee on it and walk away.” –Author Unknown > > >> On Oct 18, 2019, at 4:39 PM, Alan O'Hashi via Cohousing-L <cohousing-l [at] cohousing.org> wrote: >> >> Greetings - I'm wondering if communities that handle their real estate transactions for buyers and sellers internally allow owners to have an agent represent themselves. How are transactions handled? >> Thx >> Alan O >> ******************************************* >> Alan O'Hashi - ECOS >> EnviroCultural Organization Systems >> http://www.alanohashi.com/ecos >> Colorado 303-910-5782 >> Wyoming 307-274-1910 >> Nebraska 402-327-1652 >> ******************************************* >> _________________________________________________________________ >> Cohousing-L mailing list -- Unsubscribe, archives and other info at: >> http://L.cohousing.org/info >> >> >> > _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://L.cohousing.org/info
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communities that handle property buys and sells internally? Alan O'Hashi, October 18 2019
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Re: communities that handle property buys and sells internally? Ann Zabaldo, October 18 2019
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Re: communities that handle property buys and sells internally? Alan O'Hashi, October 18 2019
- Re: communities that handle property buys and sells internally? Kathryn McCamant, October 18 2019
- Re: communities that handle property buys and sells internally? Ann Zabaldo, October 18 2019
- Re: communities that handle property buys and sells internally? Sharon Villines, October 19 2019
- Re: communities that handle property buys and sells internally? Mariana Almeida, October 20 2019
- Re: communities that handle property buys and sells internally? Ann Zabaldo, October 21 2019
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Re: communities that handle property buys and sells internally? Alan O'Hashi, October 18 2019
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Re: communities that handle property buys and sells internally? Ann Zabaldo, October 18 2019
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