Home Selling in 10956>Question Details

Dory, Home Buyer in 10952

Who pays the realtor at closing? does the buyer or seller bring the check? Thanks

Asked by Dory, 10952 Sun Aug 2, 2009

I know that the seller pays for the realtor but what I want to know is at closing does the buyer bring the funds for the agent's commission and the seller takes it out of the cost of the house or does the seller bring the check for the realtor? I just want an idea of what I have to pay when I decide to sell. Thanks

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5
Hi Dory,
The buyer brings the check and purchases the property in exchange for the check.The money now belongs to the seller..to do with..as he pleases. The seller then pays both the agents for making the sale happen out of his proceeds on the sale.
0 votes Thank Flag Link Fri Aug 7, 2009
Your listing agent will review all costs sale your home. Seller pays BOTH listing / buyers agent commission deducted from your net profit from home sales.

Deduct:
Remaining mortgage amount due
Tax
Insurance
Closing Costs
Realtors fees

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0 votes Thank Flag Link Thu Aug 6, 2009
Dory,

Normally the expenses associated with the seller's side of the transaction are deducted from the proceeds of the sale of the home. In those situations when the sale price of the home is not enough to cover the expenses associated with the closing it may be necessary for the seller to bring additional funds to the closing.

Good luck
0 votes Thank Flag Link Sun Aug 2, 2009
When you sell it will be shown on your HUD and paid from the proceeds. No need to bring a check unless you sell the house for a loss then there might need to be additional money brought to the table.


Sean Dawes
0 votes Thank Flag Link Sun Aug 2, 2009
Hello Dory, Thanks for your question. The answer is this: The seller pays the full commission at closing aout of the proceeds of their sale. The seller has other closing costs as well such as transfer tax $4 per $1000 and of course their Attorney fee. You would also receive a credit for the unused portion of your school and property taxes that were either paid from your escrow account or by yourself. If there are any other questions or concerns you can reach me any way you wish via email/cell/voicemail/text etc. Good luck and Best Regards Allan



Allan Erps, ABR
Licensed Real Estate Salesperson
VM(24 Hours) 845-770-2141
Cell Phone/Text 845-304-3040
Fax# 845-624-7137
For the latest in Buyers and Sellers Resources,
visit my website at; http://www.allanerps.randrealty.com
0 votes Thank Flag Link Sun Aug 2, 2009
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