Who pays the real estate agent buyer in a Short Sale deal?
Posted on July 3rd, 2010 in Renting & Real Estate | 3 Comments »
Barbara F asked:
If you are going to pay a short sale house who is going to buy your real estate agent? Another advice that I'd like to read. If you looking for a short sale house that price is decreasing the prices from a couple a months ago 290k to current 240k , what should I assume? It is possible that the price to start bid is still going down in those crisis days?
Non Surgical Fat Removal
If you are going to pay a short sale house who is going to buy your real estate agent? Another advice that I'd like to read. If you looking for a short sale house that price is decreasing the prices from a couple a months ago 290k to current 240k , what should I assume? It is possible that the price to start bid is still going down in those crisis days?
Non Surgical Fat Removal
3 Responses
Frederick Md Real Estate
if you paid 290k and put down 10% with rest of it being mortgage.
290000-29000=261000(loan)
261000-240000=21000
my suggestion mail in the key.
Hershey PA Real Estate
No one “buys” your agent. If you currently have an agent who has not explained this to you, you need another agent.
If you are the buyer, your agent is usually paid from the commissions paid by the seller, but not directly. The commission from the sale goes to the seller’s broker, they send (typically 50%) to the buyer’s broker. From there the buyer’s agent receives his portion of the commission from his broker.
I also say “usually” because sometimes the commission made from the sale may be below what the you and your agent agrees to or if it’s a for sale by owner. Then you would pay a portion or all of the commission.
Bank Foreclosed Homes For Sale
The bank pays them.
Just because you are seeing a short sale promoted does not mean the bank will accept those amounts. Agents just put them out there willynilly. The banks rarely have any idea that the agents are low balling the price.