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Buying/Selling w/o a broker

Discussion in 'Buying Overseas Property' started by austin, Sep 21, 2006.

  1. austin

    austin New Member

    Hello everyone,
    I (seller), my cousin (buyer) have a verbal agreement for the purchase of property. Can we execute the buying and selling absent of any brokers? And if she has already started the process w/a broker, do we have to continue w/him, he's telling her that if we are not satisfied w/everything prior to closing, that we can back out, even after signing the papers w/o being penalized, is this true? What should she expect to pay him if she continues with him? What is the quickest and least expensive way to complete the process? Lastly, why would the buyer and seller both be charged a title insurance fee?
    Thanks.
     
  2. quentin

    quentin New Member

    Hey Austin,
    As it stands, I do not have a broker. She has been working with one, but again, he told her that she could back out at any time. I guess my main concern is not being charged overly excessive fees. He ask that I sign a concession addendum, which he said would cover fees and any outstanding bills that I may have, taxes, etc. And its main purpose was so that she would not have to come with any out-of-pocket cost at closing. But when the paper work came, it not only listed her concession fees close to $9,000, but it also had a separate listing for bills, taxes, insurance, etc., for me well over $9,000. I'm supposed to sign the papers and return, but wanted to make sure neither one of us is being taken for a ride.
    Keep in touch
     
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