Saturday, July 10, 2010

Who pays the buyer's broker in a FSBO (For Sale by Owner) property?

Who pays the buyer's broker in a FSBO (For Sale by Owner) property?





I noticed that for some FSBO properties, the seller clearly states no brokers. However, in this one property, the seller welcomes buyer's brokers. Who will end up paying the buyer's broker fee? Is it the buyer or seller?Who pays the buyer's broker in a FSBO (For Sale by Owner) property?
The seller pays the broker fees.Who pays the buyer's broker in a FSBO (For Sale by Owner) property?
In those who welcome brokers, their will be and agreed upfront amount in the listing, usually the 3% normally offerd to the buyers broker, anyhting less and you will not get any bites
seller
The seller pays the buyer's Realtor. He's a smart cookie to be willing to work with Realtors (he must have been one in a past life..) He knows that everything will be handled professionally and legally, with the care and consideration for both parties.





Good Luck!
The Seller generally will pay if a Broker is permitted to be in the deal. FSBO is easy to do, but some buyers want their realtor compensated even if they find a FSBO home. These days, the Closing company (abstract, title company) will make sure you have everything necessary to close and have a clean deal. They want their income and no potholes, and most have a rep on board to handle FSBO transactions. The Closing Company will take care of getting your title insurance, title opinion, they bring the abstract up to date, and they will tell you all the other requirements needed (appraisal, termite, etc.) Some FSBO sellers will advertise 1-2% to the Buyer's Agent, because it's silly to pay them 3% these days.

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