@wtg said in Real estate transaction question:
But I think it's wise to remember that this is a business deal for all the parties involved.
I know that was hard for me! It doesn't feel like just business!
Each one of them (buyer, seller, buyer's agent, seller's agent) will be looking out for their own interests.
Yep, and this is so hard, because I think people want to trust each other, and it's easy to develop what feels like a friendship with one's agent. But it's important to always keep a healthy skepticism.
Your friend is lucky to have had your help!
@wtg said in Real estate transaction question:
Also the part about the buyer, whether they need the cash for the repair
I don't quite understand this. edit: I mean it's ok to be aware of it, but he is not their financial manager.
No, but what I meant was that, it's not necessarily only the agents who stand to benefit from the closing credit option, so he doesn't have to interpret his agent's suggestion of that as absolute evidence that he's going to be taken advantage of. The closing credit option could be just what the buyer needs/wants and could make it possible to close the deal.
But yes, all the details matter and he should absolutely be paying attention to the small print! (And not just taking his agent's word for each detail)