Re:Homes in 97% of U.S. cities are overvalued, Moody's says
by 11235813213455 on Friday May 06, 2022 @01:17AM
(#31281564)
I don't know how it works in the US, but in France, when you buy an apartment or house, you pay about 8% to the state (notary / attorney fees), that participates in the inflation I guess
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Re:Homes in 97% of U.S. cities are overvalued, Moody's says
by andrewljohnson on Friday May 06, 2022 @01:19AM
(#31281575)
In the US, you pay about 6.5-7%. You pay 5.5 to 6% to the two agents (buyer and seller agents) and about 1% in closing costs (title insurance, etc).
It has always seemed wildly inefficient to me. Especially the “buyer agent” who gets a couple percent entirely for escorting the buyer through homes and submitting an offer.
Re:Homes in 97% of U.S. cities are overvalued, Moody's says
by BadCookie on Friday May 06, 2022 @01:45AM
(#31281707)
The buyer’s agent might show someone dozens of properties all around town and not get a sale. The seller’s agent has it much easier: an almost guaranteed sale, and for what effort? They just hire a photographer, help choose a listing price, and maybe do one open house. I’d rather be a seller’s agent any day.
Re:Homes in 97% of U.S. cities are overvalued, Moody's says
by andrewljohnson on Friday May 06, 2022 @02:10AM
(#31281839)
My buyer’s agent could be replaced by giving me access to MLS and lockboxes.
My seller’s agent, on the other hand, was super useful and irreplaceable except by another smart human. I felt like he got us top dollar for the house based on how he renovated, staged, photographed… much more money than we expected.
Also, my experience was I set a budget, put my stuff in truck, left my house a dirty mess, handed the agent my keys, and left town. Then he did all the renovating/etc, posted it, collected offers, and we got paid.