Thanks for the detailed response! I agree with everything you said in terms of the steps to keep a community clean. Interestingly, we also have two houses in Idaho, a very red state. Almost all of the developments have an HOA which is kind of ironic given the freedom people enjoy in that state. With that said, we love it because our HOA …
Thanks for the detailed response! I agree with everything you said in terms of the steps to keep a community clean. Interestingly, we also have two houses in Idaho, a very red state. Almost all of the developments have an HOA which is kind of ironic given the freedom people enjoy in that state. With that said, we love it because our HOA makes sure that our development looks amazing and that there are no issues of disrespect.
On the real estate settlement….it’s all pretty ridiculous and ends up making it even harder for a buyer to purchase . Government FHA and VA loans don’t allow a buyer to pay a commission…lol. So this will hurt a lot of people when we already have a housing crisis. But hey the class litigants will get about $20 each and the lawyers will get very wealthy.
Not sure how much will actually change because the cost of commission of both sides is already included in the market value of a house. Theoretically if a seller does not want to pay a buyer’s Agent then they should reduce the price by that amount. They will also be reducing their pool of eligible buyers and shooting themselves in the foot, but whatever.
My guess is many sellers, if educated to actually understand how this all works internally, will want to continue to pay both sides.
Buyers can certainly choose to have no agent but given how litigious real estate can be and how many real estate regulations there are that vary from city to city and county to county, it would be a short sighted decision to make on ones’ most valuable investment. 🤷♀️
Thanks for the detailed response! I agree with everything you said in terms of the steps to keep a community clean. Interestingly, we also have two houses in Idaho, a very red state. Almost all of the developments have an HOA which is kind of ironic given the freedom people enjoy in that state. With that said, we love it because our HOA makes sure that our development looks amazing and that there are no issues of disrespect.
On the real estate settlement….it’s all pretty ridiculous and ends up making it even harder for a buyer to purchase . Government FHA and VA loans don’t allow a buyer to pay a commission…lol. So this will hurt a lot of people when we already have a housing crisis. But hey the class litigants will get about $20 each and the lawyers will get very wealthy.
Not sure how much will actually change because the cost of commission of both sides is already included in the market value of a house. Theoretically if a seller does not want to pay a buyer’s Agent then they should reduce the price by that amount. They will also be reducing their pool of eligible buyers and shooting themselves in the foot, but whatever.
My guess is many sellers, if educated to actually understand how this all works internally, will want to continue to pay both sides.
Buyers can certainly choose to have no agent but given how litigious real estate can be and how many real estate regulations there are that vary from city to city and county to county, it would be a short sighted decision to make on ones’ most valuable investment. 🤷♀️