Sherry H asked:
I understand the buyer of real estate can represent themselves in the purchase of a home and get the selling portion of the commission as a reduction in the sales price, applied to closing costs or simply cash. Is this true?
I understand the buyer of real estate can represent themselves in the purchase of a home and get the selling portion of the commission as a reduction in the sales price, applied to closing costs or simply cash. Is this true?
If there’s a “trick”, I’m sure they will try it. Everybody’s got a game, don’t they ?
Check with your real estate agent, if it is in the listing contact but other wise probably not. In order to get paid for a transaction you have to licensed and paid by YOUR broker, if another arrangement is made if has to be in the sales contract for ever body to see, this avoids illegal kick backs. I have never seen a contract the offers what you mention. If it were to happen it would be applied at closing.
NO.
Unless you are a licensed real estate agent or broker (in the state that the sale takes place). It is against the law to be paid a commission on a real estate transaction.- even if you are the buyer. Just because you don’t have an agent, you do not get a part of the commission.
In fact, it really isn’t any concern of yours want the commission is since this is paid by the seller.