House Hunting: How Much is Help and How Much is Sales?

02.26.08 | Consumerism | 0 Comments | by junger

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We went to look at house today — it's the first house we've looked at, and we may or may not be ready to actually buy it.

It's a bank-owned house — most likely it was foreclosed upon — in kind of crummy condition. The carpeted floors are dirty, the walls need to be painted, and there's some junk around.

It's a decent price for the neighborhood, and has potential — but since it's owned by the bank, it's sold as-is. Meaning, even if we are getting a good price for it, there's still a lot of work to be done on it.

It was also our first experience working with a real estate agent, and with that brings a lot of questions.

The agent is technically working on behalf of the bank to sell the home, so we don't have to pay her anything, but I'm always skeptical of how much what she offers is actual help and what is sales.

For example, using the realtor's lender. I'm open to getting a quote, but would never not shop around.

When it's such a big life decision, it's difficult to work with someone you can't necessarily fully trust. You know what I mean?

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