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#69776 - 05/10/06 12:14 AM dilemma ?
philips Offline
Junior Member

Registered: 04/29/06
Posts: 6
I got a lead from a friend the other day that his colleague from work would consider buying an apartment or a house at a reasonable price. Now, on the other side I have a seller who put up for sale sign on this apartment (III floor, central heating, 2 rooms, elevator...a neat one ).The price is alright maybe some 10 or 15 % below current market value. So I have a buyer and a seller. The tricky part is to negotiate a deal that serves both sides right. Of course on a commission basis. They don't have agents to represent them so I was thinking of this :

1. To offer the buyer a nice property that meets his demands and solves his tenant problems for good ( only if he buys this apartment, I get my commission from him, the usual 3% )?

2. To offer the seller a purchase option,and ask him for a commission, 3%, only if I sell his property to this prospective buyer ?

Of course we would sign purchase agreement for legal purposes. I know this is dual-agent thing but there's likelihood that this deal will go down successfully...

Any thoughts ?

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#69777 - 07/30/06 09:32 PM Re: dilemma ?
Fastrax Offline
Member

Registered: 07/27/06
Posts: 40
Loc: Bay Area, Ca
I would first approach the seller (I am assuming that he is a FSBO by your post). Let him know that you have would like to preview his home, as you have a potential buyer for his home. When you arrive, and after the tour, bring up the subject of commissions for representing your buyer.
Then ask if he will be representing himself in the transaction, providing the necessary disclosures mandated by law, etc. You will get an idea at this point where he stands as far as you earning a commission from doing his work as well.

Sellers will often tell you to adjust the price of the home befor you present it to your buyer so that they still net the same amount. They basically add your commission onto their asking price.

Start there and see what happens.

Best of luck,
_________________________
Venice Real Estate

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#128909 - 03/16/07 03:41 PM Re: dilemma ? [Re: Fastrax]
REODayton Global Moderator Offline
Major Contributor

Registered: 07/27/06
Posts: 1705
Loc: Dayton Ohio
Put the buyer and seller together and make your commission. Be up front and honest so nobody feels cheated. Use your license as a professional, keep it legal, sell the units.

When I here somebody is interestered in buying or selling I immediatly start looking. Its nice to sell something and have an offer on the same day! It does not happen often enough.

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