What is a settlement agents fee averaging in Los Angeles for a condo sale for both seller and buyer without a broker?

Asked by Grant, 90405 Tue Jun 1, 2010

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Kim & Kristi…, Agent, Santa Monica, CA
Thu Jun 3, 2010
Hi Grant,

So far the answers are good, I think Don answers your question more directly.

If you have a buyer for your home, you may consider brining in an agent to faciliate the sale, perhaps that is what you meant by a settlement agent. I've worked as a buyer's agent with a homeowner that did not want to list their home, but offered a 2.5% commission if I brought a buyer.

If you are considering selling without a broker, see the site I've mentioned for a few tips.

Hope this helps you,

Kim
Web Reference:  http://homesellingdiy.com
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Elizabeth Sa…, , Fort Collins, CO
Thu Jun 3, 2010
Hi Grant,

My escrow company has told me to calculate approximately 8% of sales price as the cost of sale for the seller. Of course, this includes the commission. The best thing is to call me or a licensed Realtor to guide you through this process. I recently listed and closed a For Sale by Owner property in the 90405. I netted the owner $250,000 more than any of the multiple offers he received on his own. Feel free to call me to find out how to net more for your home. Thank you. Elizabeth
0 votes
Don Dorsey, Agent, Santa Monica, CA
Tue Jun 1, 2010
Locally in here in Southern California, we traditional use Licensed and Bonded Escrow companies. My suggestion would be to contact a local escrow company and find out what they charge for private escrows (buyer and seller costs).

When inquiring, be sure to remember to get a quote for title insurance (ALTA policy and if obtaining a loan, Buyers policy) and misc fees for the required hazard disclosures, mandatory retrofit costs and transfer fees for your municipality.

As a licensed Real Estate Broker, I would not suggest on doing any transaction without using a Real Estate professional. I have seen too many horror stories with For Sale By Owners in my 25+ years of doing business here in the Los Angeles market.
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What's your horror stories?
Flag Tue May 28, 2013
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