What are the costs involved in securing a buyer’s agent?
There should never be a costs involved when hiring a Buyer's Agent. Buyer's Agents assist you in securing a home and are then compensated by the Seller's Agent once the property settles. There are a few situations in which a Buyer does pay for services and that includes a Broker's Transaction Fee and the terms of a Broker's Business Relationship. In the case of a Broker's Transaction Fee you will find that there are a few Realtors that do not charge this fee and it is negotiable. With a Broker's Business Relationship, the Realtor will outline what they are willing to accept as compensation from a Seller or Seller's Realtor (Brokerage). It will state that if they do not receive the noted compensation, the Buyer will pay the difference at settlement. Be sure the terms of the Broker's Business Relationship are clearly spelled out and you completely understand the terms.
I purchased a home a couple of years ago. During the last large rain storm the basement took on water. This is the first time I have had this issue. I searched for the Seller's Disclosure because I could not remember the previous Seller's Disclosing water in the basement. They did not. Can I go back to the previous owners and demand that they pay for the damage done?
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I am not an attorney and therefore I cannot offer legal advice. The only advice I can offer is to consult an attorney and provide him/her with the information and they can make a determination as to whether or not you have any recourse. In the meantime perhaps check to see if anything has changed around the house such as new plantings, the installation of patios or decks or clogged gutters. Sometimes these issues can cause a problem.
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Jennifer Daywalt, Realtor
Phoenixville's Home Town Realtor
RE/MAX Results Realty - Collegeville
Licensed in PA - Top Realtor 2004-2011
