No, buyer does not "have to" pay realtor. But a buyer should confirm with their prospective representative as to how they will get paid and how that may impact their relationship. Buyer's agency is a great way to get representation from an agent acting on your behalf, not the sellers'. Keep it simple and ask your agent to provide details on the approximate costs of closing a purchase.... more
Dylan, rent to own is hardly different from land contract, in that you should have a written contract to state the terms of an agreement to get to the end result of ownership. It's not that simple and probably a lot more difficult than saving 3.5% of a downpayment for a very low interest loan. In today's real estate market you have a significant advantage in getting preapproval for a loan and then offering on listed properties. You should call me for a lengthy discussion on your options and for more info. on ownership if you want to live in Eau Claire or nearby. I look forward to hearing from you and hope to help you out in the very near future. Good luck Dylan!
Charlie Tiffany, Broker Associate
Prime Realty, LLC