Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
buying from in-laws update
I know many of you advised me against buying from family (with very good reasons), but given this insane market of investors literally swooping up every available property in our area, we know this is the best shot we have. We settled a deal with his parents: we are buying the property at $375,000 and they want the other $25,000 in five years interest free. We think this turned out to be a pretty decent deal especially considering that this identical property just sold for $450,000.
I had to get over the mindset that my family should cut me a deal and realize that this is just the situation and it could be worse. I cannot wait to be moved in and out of the cycle of renting. I submitted a note stating our final day in the apartment will be August 31st. Now we are just working with our lender (who locked us in at 4.375%), the escrow company and also the homeowners insurance (I think we are using AAA).
Does anyone know of a tasteful way I could let my Realtor know that we will no longer be needing her services? I feel a bit guilty for leaving her out of the deal, but that was part of the agreement set with my hubby's parents.
Re: buying from in-laws update
We decided to not use our buyers agent after we found a new construction property. This is basically what I said to her. She was not happy about it and followed up quite a bit but I always think it's better to just be honest.
Name of REA,
Thank you for showing us recent properties and for always returning my emails and phone calls. However, we have decided to not use a buyer's agent. We have decided to purchase a new construction property. This is in no way a reflection of your work and we will be sure to recommend you to our friends and family.
Thank you,
My name
Thank you for that example. That is most likely what kind of note we will write. I may leave out the part saying "we will be sure to recommend you.." because to be quite frank, I haven't been impressed with our realtor. She has been rude and pushy throughout this process.
I have a few questions first.
1. Are you under any sort of contract with this buyers agent?
2. Did this buyers agent IN ANY WAY help you out with this possible sale with your in-laws?
If you have a contract, but she did no work related to this family-related sale, then you do have an out legally. However, if she did work for you related to your in-laws' property than she has cause to hold you to your contract and probably can legally expect some kind of compensation for her efforts.
Before sending her any letter or email, you need to figure out what your contractual status is with this REA.
If you are not under contract or she did not help you with this property, than I would tell her...
...you appreciate her professionalism and time and that a property came up within your family, which you decided to pursue.
I would specially mention that it is family-related as I think this point will ease her ego and any potential hard feelings (people will have a harder time arguing or feeling bad over a deal between family members).
No and no. We have never signed any contract that obligates us to work with our Realtor. She did help us write offers on other properties, but we never signed any type of agreement to work solely with her. She also had no idea about my in laws property and she in no way helped us get it.
Thank you for your advice, I'm not looking forward to breaking the news to her but I think she deserves an explanation.