Does anyone have experience with this type of situation? My listing agent feels like my home would be perfect for her, although I think she plans to use it as an investment property. It is a starter home.
What factors should I consider in accepting the offer? She says she will not charge a commission, and the inspection and appraisal are waived. She works for a reputable local agency with stellar reviews, so I’m not concerned about a scam.
Update: I was wrong. There is no commission. I was thinking it was the same 2.5% as if she represented the buyer.
It’s great that she won’t charge a commission, but ensure you have a clear understanding of the terms. Consider getting everything in writing and consult with a real estate attorney to review the contract before proceeding.
Even with a reputable agent, it’s important to think about your long-term goals. If you’re comfortable with her using it as an investment, make sure the price reflects current market value and that you’re not undervaluing your home.
Make sure to check comparable sales in your area. Even if she’s a trusted agent, you want to ensure you’re getting a fair price. It could also be worth listing it to see if you attract other offers.
If she plans to turn it into an investment property, ensure you’re comfortable with that. Ask about her plans for the property and any contingencies in case you need to back out later. It’s a unique situation, so clarity is key.