I’ve been working with a real estate agent for a couple months. He’s shown me about 10 homes and none of them have worked for me. I recently found a house that will be sold by auction in a couple weeks that I like and want to try and buy.
What should I tell my agent. I really like him and feel bad not buying a house through him.
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Tell him the truth, that always works! Education is key will the auction allow you to have an agent, if not, it is probably one of those auctions where you have to register prior to bidding and get pre-approval by their lender. You need to be aware that auctions are not always the best way to go and to read ALL the fine print. Most “Auctions” have a 10% buyers fee, which means you are paying their commission not the seller and 10% is normal! Also, make sure there are no other hidden costs. Fianally, do not over bid. Make sure you have a limit on what you will pay and do not pass the limit! You see many buyers get caught up in the auction and over bid.
Just tell him as soon as possible so he can begin focusing on other things. It occasionally happens and you probably aren’t the first client who has had to do this and probably will not be the last. He’ll understand. Good luck.