What is the biggest mistake you have made in a real estate transaction?
536491
The one thing I think about is when I bought a rental property, I made my offer, not knowing about negotiating tactics.  The buyer agent had me sign a dual agency agreement, and I don't think he had my best interests at heart. I offered a low price and ended up paying full price.  I was naive to the fact that he was not on my side, and also, I should have asked for closing costs or some other bargaining chip.  And I should have stood my ground on the slightly lower price, after coming up some.  Being in the investor shoes, the buyer needed me more than I needer her.  I could've walked away, but she needed to sell.  So she probably would've taken the lower price had I stopped.  Overall, I do not regret the investment, it was good, I am also lucky because I didn't order an inspection!!!  (Naive again) Lucky it was in good shape.  But it also could've been a bargaining chip.  Had I gotten a lower price, I'd of had more equity now.
949782
I have seen them in action in the state of New Jersey. I found that there were many realtors, and developers there, and other professionals that were prepared to gobble up the bargains for re-sale. I would not partake in this type of purchase.
701293
I wouldn't imagine you have much legal recourse. Commission is stipulated in the listing agreement and then the buyer's agents commissions should be regulated through your MLS.  Therefore, I would imagine whatever was stated in your mls at the time of offer/acceptance would stand. \n\nThe more and more I deal in real estate the less trustworthy it seems to get. Good Luck
460727
I am a Realtor in Oregon and Washington. I started in the business in 1986. I take 15 clock hours of continuing education per year for each state. Even yesterday, I  asked my colleagues about something I hadn't run across before. \n\nSure, you want to save the commission. I don't blame you. But mistakes are expensive. \n\nTwo weeks ago I listed a condo for sale. The day after my sign went up, another went up 'By Owner.' Three days later, mine was sold, but I had two buyers left over. \n\nI called the 'By Owner' guy to see if he had sold yet and he was excited because he had sold his, too. My customer sold his condo for $130,000 (1,000 over full price) and paid a $6,500 commission. His net will be about $123,500.\n\nThe By Owner? He sold his for $115,000! He saved the commission but it cost him $15,000! He could have sold for $130,000!\n\nIt was as if he had sold the condo and paid a 11.5% commission!\n\nHere's a link to the one I sold: http://www.rmlsweb.com/Reports.asp?CMAID=8243123&Time=2003\nYou can click on the address and get a pop-up map of the location.\n\nGo with a Realtor, Please?\n\nIf you want, I can refer you to an experienced, full time agent in  your hometown that I will personally interview.\n\nYou can contact me toll free or by email. \n\nBest wishes,\n\nLeigh M\nPortland\nhttp://www.LeighMaynard.com
372044
if i were you i would check with a lawyer before anything else happens. i do not believe the realtor has the right to change anything without the sellers permission unless there was something in the contract that you signed with the realtor. read that 1st and contact a lawyer next if you feel that this was not a legal doing by your realtor. by no means would i let a closing on the property happen without finding out for sure if this was legit
123435
Assuming you'd like to start off working with a good Realtor who will take care of your real estate needs now and in the future, I suggest finding a Realtor who works for and by referral. They will not be spending time on door knocking etc and keep in touch with their past clients. This way, they'll have more time to work with you during the transaction.\n\nI'm a Realtor but not in your area. However, I have met other Realtors in person who are in your area and run their business in the same way I run mine. If you'd like a Referral to one who's professional and runs their business like I run mine, go to http://www.ReferredPro.com and submit your request. I'll forward your request onto a qualified Realtor local to you. Most of the Realtors I network with, I have met in person. I won't give your information out without your approval. So no worries there!
172652
1st big mistake - Not telling my mom I loved her enough before she was killed(at age 55) by a hit and run.Its been a year.\n2nd big mistake - My ex husband. Child Molester
993558
You need to read your agreement with your broker, but most likely they will let you out. You shouldn't be fined as long as you don't buy something that you saw through the agent your agreement was with.
695614
i did...but thats the worst mistake u can make...
30158
Oh man. Just the words Ebay scare the beejeezus out of me. I was such a novice and had no idea what I was doing. I was trying to buy a vintage board game still in the shrinkwrap. Instead of bidding $36 I evidentally added three zeros. *GULP* I sorta wondered why I was winning and no one else was bidding anymore. When I realized that I was committed to buying a board game for $36,000 I just had a heart attack. Yes, I finally found my way to the help desk and pleaded my case and erased the bid. But mannnnnnn for about 20 minutes I thought life was over. Sooooooooo, since then I stay away. Oh.......and yes, I'm blonde! I confess! **hangs head in shame**
718010
Call the Better Business Bureau. You may have to hire an attorney. Read everything very carefully before you sign it. If you did not sign an agreement, you may be able to get out of it. Buyer Beware.
1071057
Get a good, agressive realtor who really knows your market.
1168042
When signing an agreement to list and sell a property, both parties need to adhere to some very strict guidelines.\n\nThe Lister (you) need to be sure to state in writing what you are including in the purchase price and that the property is in mortgage to whatever lender you have. All liens and encumbrances must be stated on the agreement to sell, but need not be printed for consumers to view.\n\nThe seller (agent)  has agreed to list and sell your property for an agreed price set primarily by you. For his services, you agree to pay a certain per centage of the sale price in commission. That being said, the agent has agreed to selling the property at the price listed for the commission states. If he brings offers less then what you have asked for, there is no set commission stated, thus you are now playing a new game of commission on the sales. That can be limited into the writing within the listing documents. It may say the commission is to be a certain percentage of the "sale" price, and not just the listing price.\n\nThreshold rights, are what Realtors term as protection against you selling the property to someone that they have introduced to the property. That means that they need to actually take the person to the listed property and show them the home and what the property consists of. Failure by them (agent) in taking the client through the property and actually showing the entire property illiminates them from any claim on commission "IF" the client comes to you "after" the listing has expired.\n\nIf you cancel the listing prior to the expiry date of said property, you can not turn around and sell it on your own without some form of action by your agent for a share of commission.\n\nMost realtors will tell you that you need to list your property for 90 days, which is not the actual truth. Case in point would be that if you listed your property today for 90 days and it sold tomorrow and the new purchaser moved in right away, then it would not be listed for the remaining 88 days. Thus what they have told you is false, just as the statement you must list that long. My suggestion to anyone when listing a property is to list it for no more then 30 days, that way, if your agent fails to do any action to secure a decent offer, then you can replace him with a new one upon the expiry of the listing. If a realtor comes to you with a claim of an interested party and your property is not listed, then never sign into any listing agreement that surpasses 48 hours.That is ample time to have an agent show the so called prospective buyer your property and secure an offer. Lots of realtors use that line on individuals only to secure listings. Their claim of an interested party is more often then not, a crock.
205205
Let's take a step back here...\n\nI'm going to assume that you have met the following conditions:\n1. Counter-signed contract by both parties\n2. Cashed escrow check deposited by the seller (or escrow agent/title co, someone)\n3. As buyer, you did not default in any way by breaking any timelines, and are currently or were not in default under the contract terms and conditions, including current closing date.\n\nIf you have met these above conditions, the seller would be in default if they did not sell you the property.  In this case each state has specific remedies... along the lines of this:\n\n1. You'd set a closing date (probably set on the contract)...\n2. Seller does not close, therefore in default\n3. File a Lis Pendens (pending litigation)\n4. Begin a Specific Performance proceeding forcing the seller to close.\n5. If seller looses you are entitled court costs, and potentially damages (loss of locked interest rates) and the such.  The court will appoint a referee to handle the sale if the seller is still uncooperative.\n\nYou will want to hire a REAL ESTATE attorney.  Not attorney Bob down the street; make sure that they are real estate attorneys specifically.  There are many ins and outs.\n\nThe seller has probably had a change of heart because they have received another, higher offer while you were in contract.  In most cases they will back down if they know you are represented.\n\nGood luck...
488070
The fact of the matter is that you did not do your research about the area. You didn't ask your agent the right questions either. You should have asked or found out for yourself what is the area zoned for. Your agent's responsibility ends at the curb, any information about "off the property" issues such as rezoning or major works of redevelopment is not their responsibility to disclose to you unless it has an impact on  your property. And even if they did know about the project, you would have to prove in court, that you did not know and that the agent willfully withheld that information in order to steer you into the purchase and now you have real damages because of it.  Good luck...
1008273
You can do a like-kind exchange, where you trade the property for another, and defer your gain until you sell the new property. The rules are complicated--you should talk to a CPA.
1139777
You must have made a big mistake