@Anonymous wrote:
We are selling and buying a home through a friend. However, when we signed up with the friend we didn't expect to use his service for free. I asked him how are we going to pay him to list and sell our house and he said don't worry about him. Just worry about us and get ready to move to the new home.
I went through the sale and listing agreement as well as my loan papers I am about to sign, all 65 pages and none of then had a service fee for using an agent. Anyone know which document I will see the agent fees on? Or did he purposefully not send one over to me? How does one usually pay a real estate agent through the savings account or the sale?
The listing agent has to provide a written agreement showing their fee to you right up front in the listing agreement. There can be different types of listing agreements - including something as simple as a one page commission agreement to a full Listing Agreement with Exclusive Right of Sale.
As to the purchase, it is customary for the listing office to split the fee with the selling office and you don't come out of pocket for a commission. The exception here is if you sign a Buyers Agreement. Read everything he gave you carefully.
