I messaged my tenants to let them know I’m going to be selling the condo, and they told me they’d be interested in buying it.
I haven’t signed an agent yet, but am now thinking I can avoid the 6% (3% to each seller/buyer agent).

My question is- will an agent work with me at a discounted rate (1%) to just shepherd the deal? There’s no need to take pictures, list/tour, etc..

Ignore comp pricing, I’m confident in the pricing discussions I discussed with the tenant.

like
Posting as :
works at
You are currently posting as works at

Id probably avoid the agent and go with title company/attorney to transact.

Just be competitive with the price because appraisal can screw you. It’s not about how much you sell for, but how much you keep after paying off existing loan. 6% is significant savings

likesmart

Title companies have an attorney so I’d go with a title company. They will send you everything you need to do an off market deal

Alternatively, a real estate attorney could document the deal for you for less than the 6%.

like

Less than a $1000

Chat with a broker! Depending on your state it may be easier to just hire a lawyer. But in my state (CA) your easiest bet is finding an independent broker (agents have to be associated with or work for a broker) that doesn’t work for one of the giant brokerages. They’ll have more flexibility in doing a non-standard arrangement. But yes it’s absolutely doable

likesmart

I did my own deal with the help of a closing atty in VA. Worked out very well and saved the 6%

like

Find a title company. You don't need a realtor

like

There’s twice as many agents as listings. I’m sure you can find one who would basically do the paperwork for you.

Keep in mind if the tenants are getting a loan, the condo will have to appraise at the price you discussed, or they will need to bring additional cash to close. But beyond that requirement, selling to an in place tenant allows you to really control the close date, which can be important if you want to 1031 exchange.

I bought a house with no attorney. The bank has all of the paperwork necessary and people to make sure it is done correctly.

Related Posts

I got H1B Visa and 83000 USD dollar petition amount as annual package.I am confused as this amount will be enough to survive there with wife and 7 year old daughter.My wife is working here and together we are earning 50LPA annual.We are settled here by owning house too.Confusion is my wife will not be able to work there on H4 Visa so the kind of life we are living here will not be possible there.Thoughts?Suggestions?Pros and Cons?

like

Got a strategy and bizops offer at a startup after being laid off last month! Does it sound reasonable to negotiate a ~15% salary bump? What is the normal amount to negotiate?

like

Does anyone have insight on what a trading/portfolio manager role should make at a smaller RIA (less than $2B AUM). I am the first in my company to be in a trading position so am not sure what I should be expecting in terms of salary and overall comp. Thanks!

Hi everyone, what is a good asking salary for CFE Associate Consultant in SAP Ariba? I have asked for CTC of 9 LPA during salary negotiation, is it a good ask?
How much do a CFE Associate Consultant usually get with 2 years of prior experience?

SAP Infosys Consulting Wipro Amazon

likeuplifting

Hi friends,
I'm a .Net developer with skill set of:Azure, .net core, microservices, web API, MVC.
Yoe:7 approx
Currently serving notice, LWD 27july.
Can you please refer/guide me for some good organization like Adobe or MANG or something like Microsoft?
I'm tired of working with organizations like Infosys, TCS and yes I need a good salary honestly.

Thanks.

like

I have 6 year experience in project management.
What is the current market salary?
I am at 6lpa, how much should I expect in my next switch?

like

Let's talk salary.

I'm up for a raise soon and I'm at 43,000 a year. Anyone have any advice on what I should ask for?

like

Did anyone apply for amex card as an employee, recently, after the acquisiions started ?

like
like

What is CL6 in Accenture? and the average salary?

like

Which one to join GSK(X+3 bonus + 1 JB) as Data Engineer or Fujitsu consulting (x+3) fixed as System Architect??

like

So I want to marry a physician (girl) as they make good money so I get a good life plus decent retirement. Is it selfish to marry someone for money???

likesmart

What is the salary of a 14 YOE VP in morgan Stanley bangalore ?

like

Hi Fishes,

I work as a application support Analyst with 11 years of experience. What should be me my current compensation according to present market. Thanks in advance.

like

Have 3 years of tax processing then 2.5 years with tax prep; passed CPA exam. What is the comp i should take? Thanks

like

Hi Fishes,

What is the salary package for a senior manager Role in highradius?

Hello fishbowl ! I am considering a move to the UK or Europe and wanted to know if anyone could share how the average salary for a Deloitte manager in Amsterdam compares with the UK? Trying to arm myself with some facts to help with planning and decision-making 😅Deloitte

like

How does one get into trading from positions elsewhere in the bank? What would impress you most about candidates attempting to do so?

like

What was the signing bonus for MBA hires that just received offers this fall?

like

How much a consultant salary is in Capgemini with 5 years of experience. @

like

More Posts

Hi, I need referral in Accenture. Can someone please help me with the same. Accenture India

Post Photo
like

What are the responsibility for lead assistant manager in EXL

like

How long were you a senior in FDD before things started to click? Really enjoying everything so far but feel like I am behind my peers. Been about 7 months now.

like

Any thoughts on salary/pacakage for a Solutions Architect position in London vs Amsterdam? As the cost of living in Amsterdam is around 10-12% cheaper, would it have an impact on salary?

like

How is work life balance in fis gurgaon?

like

Hey Fishes,

What is the "Amaze delivery project" in hexaware? Can someone give an overview on the same?

In terms of taking the next step to elevate your career- what items are you heavily focusing on? I have speciality in data governance as well as product counseling, but curious to know what others find most helpful in their practice areas.

likehelpful

Full Stack .net Dev with exp 7yr. What type of work role can be expected from Infosys? What is scope of growth? And what could be the max expected salary offering?

like

Hi fishes
I am in confused state of mind,
I am getting a offer of 20 lpa in india after switch, and on the other hand an uk onsite oppprtunity (minimum 1 year).

Year of exp: 4+
Current ctc: 9.5

What are your suggestion/opinion to choose one oppprtunity over other ?

like

Esperanza Rising Resources. Have you used this book in the classroom? Can you share your resources? This book has so much about culture, migration, geography, etc. I may use to teach with Social Studies. Share links, resources, Teacher Pay Teacher ideas, etc. Thanks In Advance

like
like

What is typical signing bonus offered by MBB if you are recruited as an experienced hire into their Manager or Senior Manager level (coming from Big 4)? For core strategy practice, not niche areas.

like

Can anyone from fractal refer me for data analyst position? I have 1 year of experience along with 2 years of freelancing experience.

like

Rakuten symphony Rakuten India Good organization to join for as PM?
I am currently in Publicis Sapient

like

What makes a good soldier in your opinion?

like

Any guys who go to sheep’s meadow/Central Park? Looking to meet people/hang.

likefunny

JPMorgan Chase Is there anybody here in JPMC UK office ? Mainly Engalnd.JPMorgan Chase

like

That Biden speech was appalling.. How did his team approve a message like this, and what was that blood red background?!

likefunnyhelpful

Additional Posts in The Real Estate Bowl

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

How can I invest in real estate ? Looking for an additional passive income source

like

How big is to big for an initial investment property. Theres a 20 SFH portfolio for sale by me for about a mil. Is this to big to start with initially? I'm less worried about the Financials (feel comfortable on that end) and more worried about the managerial aspect.

like

How much should I invest in buying a HOME as my primary residence.

Current TC: 200k
Net worth: 300k, readily available 170k in stocks, hysa and cash
Current rent: 2000 per month
Age: 30

Wonder if anyone has any excel model or a rule to determine how much I can afford or should go for?

like

What price per sq foot to investors start buying in the north ATX home? My home is on the market and not moving. Trying to understand at what price point does it become attractive to investors

Any investors in the woodlands Texas for single family homes, rent looks good as per Zillow , good school district and houses are still affordable compared to Dallas and Austin

like

Interested in starting AirBnB in SoCal.
1. Where do I start for gaining how to knowledge.
2. What’s are the best areas to buy the property for best cash flow and appreciation down the line.

like

My realtor looked at a unit for me, and shared the video w me. I’m interested. The unit is on MLS. Then he posted on his IG story seeking buyer. I’m kinda annoyed because now I may have competitions since he is my realtor OR should I be ok for him to do that since it’s equal playing field on MLS?

likefunny

I have significant equity in a property (300k+) and maybe another 200k across other properties. I have a decent amount of money in cash and already 200k or so in stocks. Would you consider pulling money through cash out refi and using it? I get nervous for stocks being so high. I have a few properties in pipeline already. How would you suggest using it (if at all).

like

I am wanting to start investing in real estate in the new year… I’m using this month to read up on it and familiarize myself with it. I am a true beginner and wanted to ask for any tips, tricks, advice, books, videos, magazines, podcasts, etc to start? Please let me know!

like

Quoted a 30 year mortgage, 5% down for a ~600k home for 4% interest no points.

Profile: 250k salary, 800 credit score

Is this any good??

likefunny

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

This is the thread to boast about a creative deal that you made by using leverage and/or collateral.

like

If u have a house under my name if i move it to an llc what happens? Do i refinance to prevent a due on sale clause?

like

UK - thinking of a buy to let in either Birmingham, Liverpool, Manchester - any recommendations on either /areas where you can get something under £140k.

like

Fishes! what are the best grounds to dispute my property tax valuation? What support should I have?

like

Good evening all,
With my partner we are considering making a move to the countryside of Switzerland, with a gorgeous RE project offering incredible views on immaculate mountains and lake. However, it is far away, and will require 1h+ train/car commute vs. 10 min biking right now. We are scared it will bite us back at some point, although COVID helped w/ remote working being a new norm. The project will be done 2024, so I hope to have a more relax job by then. Any similar experience to share?

like

Got news that my house closing may have to be moved due to a delay in the sale of my home. My partner’s income was excluded in the DI ratio, but if it were included we’d be well under the % threshold and can be approved to close on time regardless of the sale of my house. However our mortgage company’s underwriting team has been painfully slow in confirming if her income qualifies. She’s been at her new job 1 month after a year off. Anyone with underwriting experience have insight?

like

My clients wish to write a testimonial/review for my RE broker services. What is the best site/medium for this? Yelp? Google Review? Zillow? Facebook?

like

Can my vacation home be 45 minutes away if it’s at the beach? Or does that look suspicious? I want to get in for 10% down and lower rate than an investment home

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal