While the commission is paid by the seller, that cost is built into the price of the home you're buying. There are several companies, like mine http://(www.wehelpubuy.com), that share that commission with the buyers they represent. I recently sold a bank owned house to a client in American Canyon and my rebate saved them over $8,000 that they used for closing costs.
Give me a call if you want to know more about rebates.
Listed in agreement by seller on buyers agent fees which are paid at closing by seller via title company.
Buyers agent might be able structure sales offer where seller pays your closing costs however based on your lender approval.
Out pocket expenses are: inspection, appraisal, closing cost, insurance, tax.
Have your mortgage broker review all this with you.
Keep in mind you receive annual tax benefits owning a home !
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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You should retain a buyer agent to assist you In the purchase of your new home..and the best part of that is.that we are paid by the seller of the property, an amount pre-arranged between the seller and the listing agent.There are other fees that you mentioned, such as closing costs which are usually about 3% of the purchase price, but they can be lower. It depends upon where you get your loan, so shop around on that. There is the "good faith" deposit, normally another 3% of your offer on the property, plus the down payment for your loan, can be from 3.5% for FHA or as high as 20% of the purchase price.
The professional fees associated with purchasing a home are normally paid for by the sellers.
We recommend meeting with a mortgage consultant to get started on financial end og the buying process. They will be able to answer your questions about additional fees as well.
The seller usually pays the commission part but you will have closing costs and costs for your inspections. It would greatly benefit you to find an agent you are comfortable to work with. An agent can do all the leg work and research for you and also give you an idea of closing costs or even possibly negotiate the seller to pay some closing costs in the deal for you.
Good Luck to you!
Century 21 Hearst Realty