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The first thing agent did was to make me sign a contract
2011 Jul 5, 6:34am 13,605 views 53 comments
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Don't buy anything in Half Moon Bay!!!
Houses here are way overpriced and still bubbly. Look at this house as an example:
http://www.redfin.com/CA/Half-Moon-Bay/652-Filbert-St-94019/home/1916374
They tried to sell the place a few months ago for 100k over what they are asking now, but it didn't sell. And it's still not selling.
What sane person would pay 369k for a 60 year old 1 bedroom 1 bath house?!?
Consider yourself lucky that the agent 'fired' you before you were 'burned'.
BTW, I paid 430k for a 2200 sq ft 4 bedroom/ 2.5 bath new home in Fremont 12 years ago. It kind of gives some perspective on how high prices still are.
finding the right house is kind of like finding the right girl (assuming you're a straight guy). it's a numbers game. don't waste time on any one house. don't fall in love right away - don't get one-itis. if the house is not perfect, move on. there are lots of houses out there.
bubblesitter
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2011 Jul 5, 10:36am
Consider yourself lucky that the agent 'fired' you before you were 'burned'.
+1. You should be happy that agent indirectly helped you make a good decision.
B.A.C.A.H.
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2011 Jul 5, 12:00pm
Hire a lawyer who specializes in such matters to represent you in the transaction. That is what my partner and I did, a lot less aggravation. That lawyer also had referrals for property inspectors, etc.
Then, how do you buy a property in the bay area?
This past 2 months have been more difficult for me than dealing with mafia. At least, they may give you something in return :-)
In the process of buying, you literally have to deal with mental case realtors, dishonest loan officers, contractors, insurance people and the rest of the pests all lined up to suck you dry LOL.
When does our government step in and impose some regulations so that a buyer trying to do an honest purchase gets some protection, crying out loud?
Prices are falling still over there. Don't catch a falling knife. Someone else said call the offending person's boss, I say call and write a letter to the boss, the company, and cc any association they say they belong to.
investor90
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2011 Jul 5, 2:20pm
Remember, the Realtor® is a psychopath by definition and would be tearing the kidneys out of infants to sell to vampires if they didn't get into real estate crimes racket.
Why do you restrict these blood thirsty vampire squids to only two choices? Can't they "..tear out the kidneys of infants..." AND "...get involved with real estate crimes..." at the same time? They would then have the opportunity to sell AND/OR eat the kids kidneys as well?
investor90
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2011 Jul 5, 2:24pm
----and here is the kitchen----and this is the doorway to the cozy termite and mold infected faux loggia...Imagine entertaining your friends and professional associates in your rhinestone studded velvet slippers...." And you get 6% for these stories?
Edzakory
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2011 Jul 5, 2:42pm
Beware the Realtor® that says "I'll pay you Tuesday for a kidney today".
MAGA
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2011 Jul 5, 2:47pm
Half Moon Bay is a nice place to visit on the weekends, but why would you want to live there? Are you working in that area?
This agent you signed a contract with, is this the listing agent and are we talking about dual agency here? In any case, the Realtard, if you buy into this buyers agent concept, should not be talking with other agents about you.
I am trying to get out of crowded and overpopulated places like san jose, sunnyvale, palo alto etc. My work is in san jose, and hours are adjustable. I prefer solitude over convenience :-)
Then, how do you buy a property in the bay area?
As you do in other states. Contracts.
Unfortunately, there are really no true real estate laws to protect the buyer in a scenerio like this.
All transactions related to buying and selling of real estate are governed by "Contract Laws".
I meant company-required contracts should not be included in the buying process. You can miss fine print very easily unless you hire a lawyer. I don't have any problems with state-mandated contracts; they go step by step into the buying process and protect both the buyer and the seller.
TW, I paid 430k for a 2200 sq ft 4 bedroom/ 2.5 bath new home in Fremont 12 years ago. It kind of gives some perspective on how high prices still are.
And a year before you bought it was somewhere in the mid-upper 300K. Crazy 12-13 years we had.
TW, I paid 430k for a 2200 sq ft 4 bedroom/ 2.5 bath new home in Fremont 12 years ago. It kind of gives some perspective on how high prices still are.
And a year before you bought it was somewhere in the mid-upper 300K. Crazy 12-13 years we had.
MAGA
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2011 Jul 5, 3:08pm
I am trying to get out of crowded and overpopulated places like san jose, sunnyvale, palo alto etc. My work is in san jose, and hours are adjustable. I prefer solitude over convenience
You want to commute 40+ miles each way just to live in Half Moon Bay? Wow.
A number of years ago, I was working for a major company headquartered in downtown Minneapolis, MN. I lived in the Warehouse District which was right next to downtown. I would walk to work or if I was feeling lazy, take a bus for 50 cents each way.
All my co-workers lived in the burbs and had hour long rush hour drives. Me? I was the first in the office and would have a relaxing bagel and coffee while waiting for everyone else to show up.
At least when you get home, you can go to the beach and breathe unpolluted air. Half an hour on the beach will wash away all your troubles and stress. I have done it before; trust me it is worthed.
MAGA
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2011 Jul 5, 3:18pm
At least when you get home, you can go to the beach and breathe unpolluted air. Half an hour on the beach will wash away all your troubles and stress. I have done it before; trust me it is worthed.
Don't get me wrong, I like HMB, but that drive..... Ever think how much pollution is being caused by the commute?
http://www.flickr.com/photos/jvolstad/sets/72157600405977418/
It is beautiful, isn't it? It is so unlike anywhere else in the bay area. You have to love it to compromise the 40mile commute. I have currently 2 friends that live and commute from HMB. They say after a while you forget about counting the miles. Having an electric car also helps :-)
Comments 1 - 20 of 53 Next » Last » Search these comments
I liked one of the houses in Half Moon Bay that I saw in MLS, contacted an agent (I will not disclose the agency name) and finally decided to make an offer.
The first thing she did was to make me sign a company-required contract (this is NOT a buyer's contract)to represent me just for this "particular" house. As the time went on, I had questions on financial issues such as loan contingencies, closing costs etc. since I was new in this game and would need a loan to finance this property. At the end, she probably must have been tired of my questioning and she suggested that I should look for a newer and cheaper property in a different area and "fired" me in her reply email. Thus, I went to another agent for representation. When the agents talked, the old one told the new one very unpleasant about me, which I would not repeat here. She also said that she would not release me from my contract for this property. Now, as a novice I am stuck with an agent that would not represent me fairly in short sale proceedings if I go back to her, and I cannot work with another agent to buy this house, because I have signed a document with company header.
My questions are as follows:
(1) What should you do if this is a property that you want to buy? What method do you follow to bypass a contract like this?
(2) If this property goes from short sale to foreclosure, would this contract still be valid?
Unfortunately, there are really no true real estate laws to protect the buyer in a scenerio like this.
However, some of you might have had a lot more exposure in real estate than I do and may suggest a potential way out of this. Please voice your opinion; because the same may happen to another novice :-)
Many thanks.
#housing