02-11-2013 03:59 PM - edited 02-11-2013 04:00 PM
My fiancee and I are planning to go FHA on a new construction Lennar home and use their in house lender to get the incentives. My question is should we even bother getting a realtor?
We walked through some of the available models and know what one we are going to get and it would be an inventory home by the time we are ready to buy as they are about to build A LOT of them, so the sales guy said.
02-11-2013 05:04 PM
Buyers agent is usually paid by the seller.
At times other arrangements are made.
Call up a realtor and tell them you found a home you are interested in, and if they can explain the procedures completely to you if you wanted to use their services. Make sure you ask them about how they are paid, which should be from the seller.
I am sure Lennar has a licensed realtor handling their transactions, but I never recommend for a buyer to use the sellers realtor.
02-11-2013 05:21 PM
So I am a complete dummy when it comes to ths, but would lennar pay the realtor upon closing or would we?
So I to am going through Lennar's financing arm (UAMC) for a inventory home. I have a realtor that I met a year ago. Lennar is the one that pays realtor. I know bc I found this out last year when I sat down with the sales guy. And then when I signed the contract month ago, it states that Lennar will pay the realtor. You have to initial and the realtor has to initial. It's all laid out for you. The sales agent will walk you as you sign the contract.
02-11-2013 05:42 PM
Realtor should be able to save you a ton.
My realtor got me to think outside of my box, which in turn saved me money in the long run.
02-11-2013 05:51 PM
I only got a realtor because I went through my credit unions realty program and I get 2k back after closing just for using one of their realtors. I thought it was pretty funny actually ... we had already found the builder we wanted and I had been in contact with them via email already. I got Navy Federal to set up the realtor... she called me once and attended the first meeting at the builder with us where we signed the contract. So, for a few hours of work this woman is getting over 10k in buyers agent money ... easiest money she probably ever made. But I do get the cash back after closing, so that will pay for our washer and dryer. Its free money and it is nice to have the realtor cause one day I couldn't get the builder or my lender to return my calls and I just sicked the realtor on them and they responded very quickly.
02-11-2013 07:01 PM
Cool! Yeah that's what I was thinking. The sales guys was all heyyyyyy when he was taking us around, but who know what would happen after we commit. So I just want to be prepared.
02-11-2013 07:03 PM - edited 02-11-2013 07:04 PM
Would you mind keeping me posted on how the whole thing goes for you playboy? We are looking to get started on the process in the next 2-3 months after paying down our cc's to get over 640, as I am at 607 and he is at 617.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.