I have a friend who is buying a house. The realtor is acting as the selling and buying agent. The realtor is also the brother in law of the person selling the house. He has convinced my friend to use his inspector, who found not a single issue with the house. A house that was built in the mid 70s. Also pointed my friend to his finance person. And pushed my friend to offer over asking price with the belief that multiple offers would be coming in soon.
I am worried my friend is gettin taken advantage of. I have voiced my concerns. His reply is that the realtor is a good guy and even took $1000 off his commission.
I don’t know if I am over reacting and should push the concerns more.
Am I off base with my concerns?
EDIT Update: went to lunch with my friend. Found out that the inspector did come back with a few minor items. He said he misspoke when he told me nothing, meant to say nothing major.
The house did not appraise for the offered price, not a big surprise to me. I was very happy thinking that woud be the end of it, since the loan would not happen. But now he is trying to figure out how to pay over the appraisal price. Told him I would never pay over appraisal for a house. there are other houses out there and he should get a realtor who is on only his side. I don't think he will be taking that advise.
I think that was the end of it on my side. Thank you all for your advise and opinions on this. It motivated me to give it one final push to direct him into a better situation. At some point people do have to make their own decisions and I feel good that I tried to help.
Submitted July 25, 2018 at 10:25AM by BigShotZero https://ift.tt/2v43Uxw
