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View Full Version : How long to write up an offer to purchase?



TheRX7Project
04-04-2011, 04:35 PM
I have lawyer insurance through my work, and I'm having one of the covered atty's write up an offer to purchase for me... how long does this typically take? It's been 2 weeks now, I'm getting a little antsy. I don't want to be a pest to the guy... but I figured this was a pretty basic thing and it would be done rather quickly. How long does it take?

Exitspeed
04-04-2011, 04:44 PM
Ummm, a Realtor (that you don't pay to buy a house through) would write you an offer in 30 min. 2 weeks? I'd figure something else out. Trying to buy a house on your own like that is pointless extra work. Realtors pay for insurance and their companies have attorney's. No dicking around trying to figure shit out on your own. It isn't your job. Leave it to the pros.

fly5150
04-04-2011, 05:00 PM
X2 less than a day for my realtor to write an initial offer. Worth every penny. Most of my deals have been Completed in less than 30 days, from initial offer to closing.




Ummm, a Realtor (that you don't pay to buy a house through) would write you an offer in 30 min. 2 weeks? I'd figure something else out. Trying to buy a house on your own like that is pointless extra work. Realtors pay for insurance and their companies have attorney's. No dicking around trying to figure shit out on your own. It isn't your job. Leave it to the pros.

Exitspeed
04-04-2011, 05:05 PM
Unless you are SELLING your house you don't pay a Realtor a penny. The seller pays. That's why I think it's so stupid to buy a house without a good realtor. You might have to dick around with a couple bad ones before you find a good one, but if you ask enough people someone you know knows a real good realtor and you can hopefully avoid that.

I know plenty of great realtors, and have seen plenty of terrible realtors over the years. Luckily the market tanking weeded out a GOOD majority of the shitty ones. The unfortunate part is it also got rid of some real good ones.

jbiscuit
04-04-2011, 05:05 PM
Yea I think he bailed or forgot about you. Shouldn't take longer than an hour. Where you looking at moving to? Our house might be for sale here real soon and everything in the house has been upgraded...literally. You already know the neighborhood! PM if you want to know more

TheRX7Project
04-04-2011, 06:50 PM
Moving to a condo on the NW side (well, trying to anyway). Found a great deal on it, it's close to my job and recently updated (new roof, siding, etc.). Also it can be rented so when I am ready to buy an actual house I can use it for income. Honestly it's everything I am looking for right now, and my payments (including condo fees) are less than rent. The By-Laws are pretty straightforward and simple, I read through them and there's nothing I can't get along with.

Like I said I have this lawyer insurance through my work, I'll just call another covered lawyer tomorrow, hopefully one that won't dick me around. I'm not out a penny on the guy, just some time, so I guess I'll get over it.

Exitspeed
04-04-2011, 08:11 PM
GO GET A REALTOR.

A lawyer isn't a realtor.

Seriously.

Time IS money. Quite fucking around. Especially if it's "everything you are looking for".

Holeshot
04-04-2011, 08:15 PM
GO GET A REALTOR.

A lawyer isn't a realtor.

Seriously.

Time IS money. Quite fucking around. Especially if it's "everything you are looking for".


X2 Its up to you to make it happen.

TheRX7Project
04-04-2011, 10:46 PM
Please explain to me why I need a realtor. Maybe this lawyer was junk, but all I need is an offer written up. Also my law insurance covers a lawyer to be present at closing. I'm not trying to pay someone 5% of the purchase price of this condo just to write me up an offer- I've done all the leg work already. I've got a loan pre-approved, I've read the by-laws, I've even had a pre-inspection done...

Is there really a benefit to having a realtor? The condo is for sale by owner.

Exitspeed
04-05-2011, 08:53 AM
Did you read what I posted at all?

YOU DON'T PAY A REALTOR ON THE BUYING END.

You have a realtor for the same reason you hire any professional, because they no more then you. Just because you've read some laws doesn't mean you hav the same knowledge of the industry as a realtor. It's not easy to get a rel estate license and it's not just sitting back and keeping it once you have it.

Are you familiar with what homes have sold for in all the areas you are looking? Can you access MLS to see how long a house has been on the market, if it's an estate, if it's a short sale, if it's in foreclosure? How many homes have you negotiated on? Dozens? Hundreds? More then likely not. You learn a thing or two after a while.

Buying a house isn't buying a car. Let an expert help you out. That's what they do for a living. AND YOU DON'T PAY THEM. With a FSBO things are slightly different (realtor has to negotiate with the owner instead of another realtor), but again a good realtor will make the whole process smoother.

I'm not saying you haven't done you homework, but you aren't going to know as much about the industry and buying a house as a good, experienced realtor. Plus you end up going through the BS you're going through now and wasting your time. Any realtor worth their salt would have had that deal done, you would have had your home inspection scheduled or done by now, and you would have probably already re-negotiated based on what the home inspection came up with.

You can obviously go at it on your own, but if I'm training for the UFC I'd be better off getting a coach then buying some karate books on Amazon.

pOrk
04-05-2011, 09:06 AM
If its for sale by owner and you bring in a realtor you are fuckin the seller I you already talked numbers. I will be selling my house by owner and I would rather sell private party after playing the realtor game. You say get a realtor cause your wife is one Mel, he will get a better deal using a lawyer as opposed to a realtor.

TheRX7Project
04-05-2011, 09:24 AM
Did you read what I posted at all?

YOU DON'T PAY A REALTOR ON THE BUYING END.

Then who is going to pay the realtor? The homeowner doesn't want to- the whole reason it's FSBO in the first place. So either I'll end up paying more for the condo to cover the realtor (so in the end I am paying for it) or the HO is going to eat the cost (unlikely). I know the history on the condo, it's an estate and the new owner just wants to get rid of it (doesn't need it). It's priced WAY below assessed value. The foundation is solid (besides, that's covered by the COA), the windows, roof, and siding are recent, the heat is electric so I checked it out (I used to be an electrician), the water heater is fairly recent, and my fiancee's dad is a plumber so I had him look at the plumbing and it's good. I don't have a need for a realtor, other than to write me up an offer to purchase. That's all I need is a purchase offer.

Exitspeed
04-05-2011, 09:28 AM
Like I said, it is different with a FSBO. When I first told you to get a realtor you hadn't said it was a FSBO.

Realtors don't tell you what's wrong with a house. That's the inspectors job. Not a realtor.

My wife is no longer an agent, but I understand the importance of one because she was one and I worked in the industry for over 5 years.

I wouldn't even start looking at a house without a realtor. Because you end up dicking around, just like you are doing. But I'm obviously biased.

TheRX7Project
04-06-2011, 11:51 AM
OK So I have my offer now. It took this lawyer less than an hour for everything. Walked in with information, walked out with an offer. Apparently the previous lawyer was a dingbat.