Comments on: Beware: New Constructions Illegally Not Disclosing Seller Subsidies

By: FranklyRealty.com Trust Me I’m A REALTOR » Don’t Use Tax Assessments to Value a Home!

Sun, 31 May 2009 04:28:13 +0000

[...] 1) They don’t show seller subsidy! Sometimes the subsidy can be $30,000. So you think a home sold for $500k, but it really sold for $470,000 net. On the MLS the seller subsidy must be disclosed. (except when seller subsidy is improperly hidden) [...]

By: Lucy

Lucy — Tue, 20 Mar 2007 17:24:00 +0000

Thanks for the info! Didn’t realize how complicated the real estate transaction could be and the rules and regs of the MLS listing data. As a homeowner I always thought it was simple.

By: FRANK LL0SA Broker

FRANK LL0SA Broker — Sun, 11 Feb 2007 00:48:00 +0000

Hey Erica,
Glad that helped. Did you know that as a Realtor, last year a buddy of mine wanted to buy a new construction with an 08 delivery.

We were able to put into the contract a guarantee pricing option. That he has the right to walk or renegociate if the builder drops the prices. THat one line in the contract could save him $30,000. All for using a "Free"
Realtor

By: Erica

Erica — Sun, 11 Feb 2007 00:46:00 +0000

I always thought “Hey why bring in an agent, I can do this myself.” I didn’t think in terms of a Realtor knowing what pitfalls to avoid.

By: Kate- Virginia Buyer

Kate- Virginia Buyer — Fri, 09 Feb 2007 16:44:00 +0000

Thank you for confirming some of my suspicions out there---fudging the MLS, like not entering seller subsidies and entering what appears to be non-arms length sales as comps, shopping offers, ABA's, etc...

I am only a single woman and feel like I am getting fed to the vultures out there.

By: Anonymous

Anonymous — Mon, 05 Feb 2007 17:38:00 +0000

thanks for some details into something we all know commonly occurs now that the craze has ended.

By: Anonymous

Anonymous — Sun, 04 Feb 2007 22:44:00 +0000

I want a Honda Civic just like that one.