Ramblings of a Baltimore area Realtor: Should we use a buyers agent if we are buying the house we're renting?

Should we use a buyers agent if we are buying the house we're renting?

Should we use a buyers agent if we are buying the house we're renting?

Question:  

We have been renting a house for 3 years, and house hunting for 1.5 years.  We've been working with a great agent but we just aren't finding a house that works for us.  Our landlords have offered to sell us the house we're in for a fair price.  If we choose to buy this house, should we still use our buying agent?  If we don't use her, is that rude?  I'd feel horrible if we wasted so much of her time!

Answer:

In the state Maryland if you have signed a buyer's agency agreement with the agent that has been working with you for the last year and a half then you would be legally required to pay her a commission on the purchase of the house you are renting regardless of whether or not she helps you with the purchase.  That being said, unless you are in the business of buying and selling real estate both you and the seller should use a Realtor when buying and selling any real estate.  The reason being we live in a very litigious society and even though you come to an agreement, everything in real estate has to be done in writing in order to be legally binding, you would want to have either a Realtor or an attorney go over the forms and contract with you to make sure that it is all legal and on the up and up and that you are both protected in the transaction.  There are disclosures and lead based paint, inspections, appraisals and all kinds of other things involved in a real estate transaction and you really need someone in your corner to help you through the whole process.  You may be able to negotiate a reduced commission because of the situation but I wouldn't buy or sell a house without representation.  


If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Remax New Beginnings

City Living Expert

 

 

 

 

 

 

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 7 commentsJune Piper-Brandon • August 17 2015 03:08PM

Comments

June Piper-Brandon,  I agree with you 100%.  Thanks for sharing.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) about 3 years ago

Yes you should...you need someone to explain the contracts and make sure you get al the disclosures you are supposed to

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 3 years ago

There are so many things in the transaction that an agent can assist and give great advice.  I mean who is going to determine it's a "fair" price.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) about 3 years ago

Yes, Yes and Yes! You absolutely should be represented by your own buyers agent who will recommend getting the home professionally inspected and walk you through all of the legalities that come with purchasing a home!

Posted by Nicole Doty - Gilbert Real Estate Expert, Broker/Owner of Zion Realty ZionRealtyAZ.com (Zion Realty) about 3 years ago

Buyers should always have representation.  Without it, a renter may not understand the disclosures a seller may be required to provide in that state or what their rights are as a home buyer.  They may not think to get a home inspection, after all they live there, what could be wrong??  They may not have had the roof professionally checked, had the heating or AC professionally inspected, etc. For one of the biggest investments of a life time a Real Estate professional is a must!

Posted by Shirley Coomer, Realtor, Keller Williams Realty, Phoenix Az (Keller Williams Realty Sonoran Living) about 3 years ago

By all means. If you are happy with the agent who has shown you other homes, use that agent to represent you.  Note: becoming the owner of a home you've lived in for some time presents its own challenges when it comes to inspection. Also, the excitement of getting the keys just isn't the same. ;-)

Posted by Gerhard Ade, Real Estate with Confidence (RSVP Real Estate) about 3 years ago

Yes, having someone on your side to represent your interests is key, regardless of what house is being purchased.

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) about 3 years ago

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