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Personal Finances / Buying or Selling a Home


Subject:  Re: Getting started Date:  6/13/2002  1:21 PM
Author:  ramsfanray Number:  43477 of 129306

Ask friends for recommendations for an agent. I know that there are people that say you can do it without an agent but I wouldn't recommend it. The seller's agent is there to represent the seller. And he/she will know all the tricks to get you to pay 300K for a 200 sq ft. one room shack. You need a buyers agent. However you must still be careful. The buyers agent traditionally has a perverse incentive plan. He gets a % commision from the sale price. So even though he is supposed to represent your interest (which should be best house for least amount of money) your agent actually has more incentive to get you to pay more for the house. An honest agent will put your interests first of course but how do you know he is honest? If you just randomly picked an agent out of the phone book it is really hard to know. So ask your friends for a recommendation.
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