njtomato - I wish you much luck - please let us know how this all turns out. I have to agree with the triciae and the other posters who said you have nothing to lose by making a low offer. Seventeen years ago, my parents were going through a messy divorce and put my childhood home on the market. It had the potential to be a wonderful family home - had great bones, on acreage lot, in old, very affluent area, and was surrounded by beautiful, expensive properties. Unfortunately, my father had not wanted to put any money into the home for years, and it was badly in need of updating. Structurally it was sound - just needed paint, carpet, updated cabinetry in kitchen/bathrooms, landscaping, etc. It sat on the market for months because it did not show well and most buyers were not looking for a fixer-upper. Also, the real estate agent that my father insisted on using did nothing to aggressively market the home. Finally, a close friend of the real estate agent's son made a lowball offer - about $80k less than asking price. My father was ready to sell and accepted the offer, against the pleas of the rest of the family. (We always suspected that the real estate agent recognized that my father had reached the end of his rope so advised her son's friend to make the lowball offer....) Anyway, the house sold, and the buyer completely remodeled the inside and landscaped outside - it is absolutely beautiful and rivals the rest of the homes in the neighborhood. Moral of story - you never know the sellers circumstances and how ready they may be to sell....

It's not really your responsibility to make sure the buyer's agent (your buyer's agent) gets the proper commission...they work it out in the contract according to local custom. I believe mine got 3.5% and the seller's agent then got 3.5%. I didn't feel it was necessary to "caution you" to it, and I didn't think what I said was offensive, but I didn't know if you had worked with a buyer's agent before - and it's a mistake some buyers, especially first time buyers, make. They certainly don't do it on purpose, it just happens. Any time I found a house on realtor.com I liked, or any time her automated suggestions came by in my email and I found one I liked, I had her set up a showing for the house, because after all, she was my agent. I never once had any direct contact with sellers or their agents. The real pudding in the mix though was during negotiations - I would have NEVER got through negotiations without her. You definitely want a buyer's realtor/broker to represent you throughout the process. Many realtors have "both hats" on - they list houses as a listing agent/sellers agent and also have clients that are looking for homes and they act as buyer's agents. There are some that specialize in each thing but many do both. For example, my buyer's agent had quite a few houses listed and acted as a seller's agent for them.

jane ny, thanks for the info...as you have demonstrated that there are indeed REA's out there who actually not only understand what their job is...but actually do their job as well. linda1117 you are the one that used a phrase common to your area, not I. That said, perhaps the next time you could be more specific, since you are aware that terminology varies form state to state. And yes, REA's are not code officialsor home inspectors. However, if researching is not part of their job...what is? How exactly do YOU comply with Article 12 without doing any research? If a REA is not going to perform any research, then they are simply nothing more than copy clerks, parroting what the seller has told them, whose only purpose is to provide the contact names and addresses for the listed homes. billl..the bee appears to be in your bonnnet...not mine. Fact: in NJ if the REA knowingly misrepresents and/or does not perform due diligence, they are liable to be charged with consumer fraud once discovered. Performing their due diligence in verifying that what the seller has told them about the house is accurate PROTECTS them from being charged with consumer fraud in the event of a complaint. I am not "misreading the law". This was enacted by the Division of Consumer Affairs (which is under the auspices of the State AG office) in 2004, and NOT the Banking and Insurance Commission, which is the NJ entity that actually licenses REA's, because this was apparently a widespread problem in terms of consumer protection and consumer fraud...and the RE Commission was apparently turning a blind eye. It is supposed to be an incentive for the REA's to play the game fairly and honestly. However, sadly there is clearly minimal enforcement. That said, in the event of a lawsuit or even a complaint, such flouting of the law will position them for treble damages in terms of consumer fraud. And, it is of course the buyers responsibility to check out the property via professional inspections. However, please tell me which inspector has the job of checking up on the listing to see if the agent was negligent (or blatently lied) in obtaining the facts a about illegal improvements? The buyer is entitled to receive accurate listing info.not bait and switch. The buyer is not a "mark" to be duped at any cost, and I find it appalling that some seem to think otherwise. That said... jane ny had an agent who did their job...my friends agent researches the homes that she lists (the problem has been with listing of other agents) and FWIW, on an episode of Real Estate Intervention that I caught this morning, the REA said to the owner/seller, "you can use the basement as a bedroom, but it can't be advertised as a bedroom, as it has no second means of egress." Point is, there are REA's who can be trusted. Qdwag (or should I say qdog) when you have something informative to say, Ill be happy to comment. Berniek, I did miss some zeros apparentlybut it seems like the pop is 380,000 or so, not 600,000 Anywaythey are to be applauded on their amazing website. Very well done. Here in NJ, the money that could have been used to create one like CS, is probably in someones pocket.

Well, just wanted to put in this one last post on this. I did end up getting an offer on my home from the client that did see it, it was a great offer for full asking price, so I have accepted it. So, all in all, the realtor did end up getting me a good deal and I am happy to have a contract on my home now. Buyer is preapproved with 20% down, so it seems like a sound contract, I close August 28th. I still agree with you guys that the photos were bad, but its not much of an issue now :)