Avoid Homebuyer's Remorse: 10 Most Costly Homebuying Mistakes

Sellers will just learn to cooperate and cover the buyer agent fees.

I am 4 days into escrow on my very first home. Wish me luck!

This new law will be a roadblock for many buyers who can barely scrape up the down payment. Net outcome, housing prices will come down until down payment + buyers fee total make sense.

Dear first caller: Never start any conversation/interview/discourse with the words "ohhhh man". The audience immediately understands why you went through so many interviews. Maybe instead: "Good evening Todd, thanks for taking my call, I'd like to get your thoughts on, . ."

It’s the devaluation of the dollar nothing more

So much for ethics , I have bought and sold a lot of houses and you are correct realtor’s do not have any one’s best interest at heart there for the most part are predictors, the house will sell them selfs commissions are way to high for the service they provide

Great podcast Todd

Hey Malissa! We miss you over here. Hope all is well.....

Very good video and most realtors care about the almighty dollar than the client. I have few real good realtors who gone out of their way to make sure they represent the buyer. It is helpful to know a little bit about construction etc. I use to flip homes that i bought when i lived in Southwest Mich. I always brought up to code and might go past code a little. One electrical inspector for Kalamazoo taught me what i had to do in the electrical without a permit. He would check my work and i learned a lot through him. I loved buying and repairing foreclosures and bring up to standards and selling for a good profit. The title company called me into the back office to see if i wanted to start a LLC. i chose not. I love real estate a lot more than renting out a house. Now i am looking to turn my home into adult foster care home. Tax free and VERY good money in it. You can also have a major impact on the residents they will respond to the way they are cared for. I am 68 and it is another way to retool myself in this part of my life. I love your videos and still love real estate

Haven't seen your a bit awkward but cool buddy on the show lately 😢

I bet he has a take on the second unliving attempt on a certain person running for a certain office that is important in regards to running things...

More NAR settlement:p

I’ve been thru 9 properties. Had 3 good realtors.

Clearly Todd hasn't seen the episode of "Everybody Hates Chris" where the mom got a credit card and thought that it was free money.

Many Buyers agents do not want to "offend" the listing agent by presenting an offer below the listed price.

The 10 most costly mistakes of buying a new home
(1) Buying a new home
(2) Buying a new home
(3) Buying a new home
(4) Buying a new home
(5) Buying a new home
(6) Buying a new home
(7) Buying a new home
(8) Buying a new home
(9) Buying a new home
(10) See 1-9

I ain’t paying nobody to go look at a house.

Real estate agents are useless. We basically are only required to use them for the paperwork.

They don’t provide any real expertise at all and are generally lazy piles of crap

Just call the seller or listing broker. They will show you the house. They don't represent you, and I think that's a good thing. The buyer knows where they stand. That's how it used to work years ago.

Hi Todd, just the couple of times I had an agent show me a house all they basically did was open the door so I could look around. Why pay an agent for that? I can understand once you start the process of buying and they really work to get you the best deal and make sure you don’t get ripped off then have a payment agreement but not just for opening a door!

I have some buyers remorse, and this last house was my6th property. I expected high taxes, high insurance, and horrible rehab costs, but I had no idea how much the home insurance and local enforcement codes had changed. I am approved for a $80K mortgage, but can only do a $27K home equity to fix up a property I paid cash for. I couldn't find a general contractor that worked with properties inside the city, and the one I had used I the past transitioned to only new builds. I bought builders risk insurance for phase 1 of the rehab, and hired individual licensed trades who were booked out for months, pulled no call no shows on me, and the rehab took too long, and I defaulted on my loan agreement that mandated I get it habitable in 6 months so I could get conventional home insurance on it. My loan ballooned so I paid it off early, did às much work as I could until I could get the electrical and plumbing guys in it. After 12 inspections, I finally had the first permit pulled, went back to my preferred lender, and tried to take out another rehab loan with definitive dates, I was denied not because of my credit, payment history, or income. I couldn't get another rehab loan because it wasn't big enough, and I had spent more of my savings just paying for repairs, so with $20K less in my savings, I was somehow a higher risk than last time. I'm rage selling at this point and leaving that municipality.

Hi Todd,
Please answer this question. If both buyer and seller agents are required to have a contract and if in the past seller agents were charging 5 to 6%. Why not have a standard rate for both agents that splits the cost 50/50? Then just have in the agreement that the seller side will pay the cost? Isn’t that basically how it worked before? Seller agent would split there commission with the buyer agent?

Why not have a cap on commission for both sides that all together can’t pass six percent, give or take? It sounds like they are making a bigger mess out of this than it should be!

I’m not an agent obviously but I don’t think this should be made so difficult unless buyer and seller agents are both striving for higher commission over all. Example is when in the past commission for selling, was five percent and now seller agent still wants 5% and now buyers agent wants 5% making overall commission 10%.

Me thinketh cackling all the way to the bank., compliments of the hard working American.....taxpayer!@!?😃🤪

I will never, ever buy anything with an hoa.

Well I was looking for a house/investment all over a few states. You have to pick a person in that state.

House of cards will fall been going on for along time keeping the rates so low.
Lowering rates will make things worse I think, roaring 20,s are over

If you are buying a 1.5Million property paying just minimum downpayment, you don't understand nothing about real estate. Nothing. The property of that value today is flat, maybe going a little bit lower. You are paying almost $10,000 taxes, mortgage interest in 30 years will be another 1 million. Where is your brain? Please work with experienced Realtors. Interview at least 5 agents and 5 mortgage brokers to understand numbers.

Buying a house with a pool

... Worst decision ever. You have zero idea how costly and how much work it is to maintain.

The language issue should be non issue. Just upload to chatgpt, done. Use the right tools, stop living in the stone ages

Ph# to call you?

Speaking of immigrants the entire border issue aside. Yes absolutely there are Mexicans who dont speak English or very little, signing loan docs all the time and cannot read any of what they are signing. How can you sign docs you cannot read and understand? Also Lenders have now allowed these same buyers to print as their signature since they cannot write cursive. How they have money to buy a house at all time high prices is odd.

I think I bought a money pit. Should I had of hired buildings structural engineer?

Commissions are too high for the service realtors provide. % based fees make no sense and never did. The realtor isn't doing much different for the 600k house then they are for the 1.2m house.

Those I hear up in arms about the NAR rules/settlement are realtors who are concerned about their own commission and being spiteful little shits about it to try to change things back to being in their favor. In other greedy realtors.

If any agent is getting greedy with their contracts on showing homes, then avoid them. You can easily just print your own contract that states you'll use the agent to show you that specific house, and will sign another contract in the future if you so choose talking about a commission.


The whole thing should of been based on hourly wages anyway for services rendered.

Maybe learn English if you live here? 🤷🏼‍♂️

Don't you think they should have to learn English

I think alot of people got caught up buying a house because rent went up so much it was cheaper to buy but now rent is up and housing is up its ridiculous id have to live and hour from work for cheaper rent.

Last year Rocket Mortgage offered cash incentives to use their agents and we tried it but the agents sucked! Lesson learned! Good advice Todd!

Do you have a video about using LLC and holding property in retirement fund?

"Wrong timing FOMO" is also how you lose money in the stock market.

This channel and Peter Schiff thrive on negativity and doom and gloom when reality is variable. Yes there is risk in anything you do! Buying can be bad and not buying can be very bad too. You have to figure things out for yourself gathering info from different sources!

If you bought far away from the city in 2006, you lost money; if you didn’t buy in 2010s near the city, you lost out and are forever priced out of owning a house!

Caballero de buen moral!! From Cali, Hello Mr. Sachs👍🏼

INTERNACHI

If a buyer’s agent works in their own self interest & benefits from an over listing offer, wouldn’t a flat fee eliminate that. Same commission regardless of final price.

Why you are misleading people that the commission on the closing document go to the agent.?Is your goal to sway buyers from using Realtor ?

most school teachers near me make $100K+, many $150K+ and they dont need raises. Where I am planning on moving the agents "buyers and sellers" like a dual agent work together to keep the price high because they BOTH make a higher commission. They also lie and deceit what is on property(such as it has a barn in large letters and has a 8'x10 shed falling down, seriously), have refused to take lower than asking price even though one home has been listed for 8 + months and one home has an ala carte: home w/ property, 40 more acres with needed barn, cabin nearby and/or road leading to creek nearby. Who besides buyer of home would want to buy a deed to a nearby road?