OfflineWhen doing an assignment who pays the agent and closing or should this be added into your offer to the seller.If the seller takes a low offer when he has a mortage will these fees come out thier pocket or do we write it into the buyers contract.
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You could work that out with seller and Buyer.
The buyers pays for closing cost and we also tell the buyer that they pay sellers transfer tax(1%)
The agent is always payed by the seller.
You are neither if you are assigning your contract.
Jay C
Jay C
I like doing assignments and yes the seller pays the agent, and in my assignment with an agent, the seller was sharing the closing cost with the end buyer.
Not sure if they all do it like that.
But this brings up a question. If it is a short sale would it still be like that?
If the seller is already taking less than what is owed? He would be paying the agent, but would this effect the closing cost or not?
Sandi
In a short sale situation the seller that is shorting there sale probably will not pay a commission to the realtor. I wouldn't! The realtor could put a fee on the HUD sheet and try to receive it from the bank.
Don't Know what you mean about effecting the closing cost?
Jay C
Jay C
in a short sale the bank pays the agent there commission.
Just do it,don't be afraid to fail,failure is just a stepping Stone to success
When we lived in NJ the buyer normally paid for title insurance since it is to their benefit in case of a title problem down the line.
After coming to FL we found that the seller normally pays for title insurnace & county "doc" stamps. This is just about always the case when a REA
is involved & writes the contract.
But, when Jill & I write the contract we have the buyer pay both. Basically it's like anything else, it's all part of the negotiation.