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The seller is responsible for paying the commission which usually comes right out of the mortgage bank check. A lot of buyers agents work for free in essence that they dont ask for money from you but usually split the commission with the seller's agent. Unless your landlord signed a new contract with their realtor she shouldn't have to pay the commission because most people only sign no more than a 1 year contract.
billmack30 wrote:My landlord was trying to sell her townhouse last Aug and couldn't so she decided to rent it out. We signed a lease for 1 year. We have had a good year and we are thinking of buying a place instead of continuing to rent. We emailed our landlord asking her if she would consider selling to us. She said she'll think about it and get back to us. That's where we are. What would be the process for this to happen if she replies that she is interested?Also, in the email she stated:" I will definately give it some consideration. Too bad we have to pay a commission to the Realtor! That could save you some money."I didn't want to reply - "Why would we have to pay commission, I have a seller and you have a buyer. What is the need for an agent?" I understand realtors do more than just find buyers and sellers, however I am curious. Could she still have some sort of contract with her realtor from last Aug that says if she sells the home the realtor gets commission?
steelfan wrote:The seller is responsible for paying the commission which usually comes right out of the mortgage bank check. A lot of buyers agents work for free in essence that they dont ask for money from you but usually split the commission with the seller's agent. Unless your landlord signed a new contract with their realtor she shouldn't have to pay the commission because most people only sign no more than a 1 year contract.
billmack30 wrote:My landlord was trying to sell her townhouse last Aug and couldn't so she decided to rent it out. We signed a lease for 1 year. We have had a good year and we are thinking of buying a place instead of continuing to rent. We emailed our landlord asking her if she would consider selling to us. She said she'll think about it and get back to us. That's where we are. What would be the process for this to happen if she replies that she is interested?Also, in the email she stated:" I will definately give it some consideration. Too bad we have to pay a commission to the Realtor! That could save you some money."I didn't want to reply - "Why would we have to pay commission, I have a seller and you have a buyer. What is the need for an agent?" I understand realtors do more than just find buyers and sellers, however I am curious. Could she still have some sort of contract with her realtor from last Aug that says if she sells the home the realtor gets commission?