Can The Buyer And Seller Split The Savings On A For Sale By Owner

Q: We?re buying a house from some people we know. We?re both wanting to do the transaction without using a Realtor. That should ?save? the Realtor?s commission, about 6% or so. How should this ?savings? be split up between buyer/seller? I know it?s negotiable, but I was wondering what is common?
?Dmoodman, Frederick, MD

A: Nothing is common in this instance. The seller is not using a Realtor to get the most amount of money and the buyer is not using a Realtor to save money. Your own negotiating skills are what will make this decision.
Colin Rosenthal is a Realtor? with DFW Metro Housing in The Colony, TX.

A: Sellers usually sell their home by themselves to save the 6 % commission for various reasons ? Maybe there is no equity in the home, the sellers need a certain amount from the sale of their home to get into another home, sellers need a fast sale and do not want to over price their property, etc. Each transaction is different and there is no way to ?split? the commission savings ? it is all negotiations.
Sandy Straley is a Realtor? in Layton, UT.

A: Usually, since the commission is paid by the seller and is ?on top? of the price of the home. I would just reduce the price by the commission, because you both win that way, because if you are getting a loan then your loan is less, down payment and monthly payment.
Beverly Houlier is a Realtor? with Hilltop Chateau Realty in San Diego, CA.

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Related posts:

1. Who Pays The Realtor Fee If The Buyer And Seller Use The Same Realtor?
2. Will My Real Estate Agent Still Get Paid If I Found A House For Sale By Owner That I End Up Purchasing?
3. Why Won?t The Seller?s Realtor Lower Her Commission To Make The Sale?
4. What Is The Minimum Percentage Of Commission?
5. Should I Use A Realtor To Buy A For Sale By Owner Home?

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