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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: fatty who wrote (18806)	3/22/2004 3:58:41 PM
From: Elroy Jetson	Respond to of 306849

If the agent is the seller, they must disclose this to you. You may ask the agent why the owner is selling so soon, but they are not required to tell you - and may not do so unless they have the seller's permission. Certainly if they get only their asking price, they will achieve little more than break-even if they paid a 6% commission and typical holding and closing costs. The last time I saw something like this, the home was offered for 5% less than they had paid one month prior. The agent told me the seller had been transferred to a different city. However, a quick walk through the home indicated to me that there was a major problem with the foundation. Had a person purchased the home and discovered undisclosed foundation problems after the agent had told them a false story about an owner moving, a really messy litigation would follow.

To: fatty who wrote (18806)	3/22/2004 4:11:29 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<anyone know if it's ok to ask why owners wants to sell?>> It's perfectly all right to ask why the house is being sold so soon. You might not get a straight answer, if the seller wants to keep the reason confidential. Maybe it's a divorce case or a serious sudden illness. But all buyers would naturally want to know the reason behind such a quick turnover, so go ahead and ask. Could be a little tough to get an appraisal on the house for $100K more than it was just sold for 2 weeks ago, though. That seller sounds a little naive in this respect, so he probably isn't a real estate agent. Unless of course, he bought the house at a below-market price and the house truly justifies its new higher price tag. <<What can be assumed about the seller since he is risking quite a lot just to make a small profit?>> $100K isn't a small profit, is it?. And what would he be risking?