Is that the total the selling agent will get or is that what is expected to be shared with his/her company. I understand that the total commission rate was 6% so the lsiting agent and company will get 3.3% right.
ShanetheMortgageMan wrote:Staying in the home after closing is OK, many sellers want to do it in order to pack up and move after they know it's a "for sure deal". What I'd suggest is that you require they take out a renter's policy on the home for those two days in case they do something to the property (scratched it up from moving furniture, etc.), so at least you know they'd have insurance to back up whatever they did. In addition to requiring them to get a rental policy I'd also ask that they pay you a per diem charge of whatever your mortgage is costing you... be it $50/day or what have you.
To calculate the commission you'd take the sales price and multiply it by the percentage the real estate agent is making - so if you are buying a home for $150,000 and the commission is 2.7% it'd be a $4,050 commission.