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Old 09-19-2010, 08:26 PM
 
52 posts, read 104,309 times
Reputation: 19

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Hello all,

I have signed a 6month contract with a real estate agent and my house is about to sell. I am unsure of the selling/closing cost however as it says 6% of the closing cost. Is this 6% to the seller's AND the buyer's agent? if so that is 12% of my total house's sell price and seems very steep. I have heard that the 6% is split 50/50 with the sellers and buyers agent and that seems much more likely. Any idea (i can obviously ask my agent tomorrow but would like to corroborate her story with some objective info on here ....google failed me). You all are my last chance! thanks,all!
FD
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Old 09-20-2010, 04:32 AM
 
4,097 posts, read 11,477,418 times
Reputation: 9135
I am sure an agent will pop in, but from long experience, it is 6% of the selling price of the home and split among the involved agents.
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Old 09-20-2010, 08:11 AM
 
Location: Houston-ish, TX
1,099 posts, read 3,735,896 times
Reputation: 399
I am very curious about why you don't feel like you can just ask your agent??

The 6% is total, 3% to buyers agent's COMPANY, 3% to your listing agent's COMPANY. There will also be other closing costs, this is only the marketing fee, the commission. You probably also have to pay taxes, title insurance fees, courrier fees, etc.
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Old 09-20-2010, 05:05 PM
 
4,097 posts, read 11,477,418 times
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Hi Michelle. I am always amazed at the contracts that are signed without a complete reading and question/answer session. I made my agent and the closing person wait until I had read and understood each clause. It took forever but made me feel better.

Pays to be naturally skeptical that others are doing the right thing for me.
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Old 09-21-2010, 06:02 AM
 
3,405 posts, read 3,449,324 times
Reputation: 1685
ask your agent what title company is being used and ask that title company for an estimated closing disclosure to find out what you end up with when all is said and done.
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Old 09-21-2010, 11:15 AM
 
Location: Houston-ish, TX
1,099 posts, read 3,735,896 times
Reputation: 399
Your agent is supposed to be your trusted advisor, if you don't feel like you can ask a simple question like this, it just makes me wonder why. I don't want to try to say anything bad here, but I get this question all the time, when I'm going over the initial listing paperwork. I want my clients to ask all their questions and feel comfortable before we do anything.
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Old 09-23-2010, 03:39 PM
 
369 posts, read 681,555 times
Reputation: 118
Friends don't let friends pay 6%.
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