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Old 09-19-2015, 04:07 PM
 
984 posts, read 1,239,771 times
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Rather than using a RE attorney, what do you think is fair to pay a Realtor to handle the paperwork on a FSBO when the buyer has an agent and seller is the FSBO?

Realtor I'm thinking of asking will be representing me on the home I will be buying.

Thanks...
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Old 09-19-2015, 04:13 PM
 
Location: Austin
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When a FSBO already has the buyer and just needs paperwork, I charge 1% (depending on price point, it might be more or less). Keep in mind that as soon as an agent touches a transaction, they have to put errors and omissions insurance on it, so it's not like $100 covers things. The agent is open to all liability for the entire transaction.
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Old 09-19-2015, 04:19 PM
 
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Quote:
Originally Posted by FalconheadWest View Post
When a FSBO already has the buyer and just needs paperwork, I charge 1% (depending on price point, it might be more or less). Keep in mind that as soon as an agent touches a transaction, they have to put errors and omissions insurance on it, so it's not like $100 covers things. The agent is open to all liability for the entire transaction.
Price is $895k. So 1% seems high.
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Old 09-19-2015, 04:31 PM
 
Location: Austin
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For that price point, I would probably do $3500-4000. It's not just the insurance and helping with the contract. It's helping to get the buyer to closing too. And if there are negotiations after inspections, that's also work.
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Old 09-20-2015, 10:21 AM
 
Location: Columbia SC
11,729 posts, read 9,964,341 times
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The buyer has an agent and it will be in that agent's best interest to make sure the deal happens. All you need is to legally protect yourself and that can be done with a real estate attorney. Sign nothing unless your attorney OK's it.
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Old 09-20-2015, 10:38 AM
 
44,979 posts, read 18,622,084 times
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Originally Posted by johngolf View Post
The buyer has an agent and it will be in that agent's best interest to make sure the deal happens. All you need is to legally protect yourself and that can be done with a real estate attorney. Sign nothing unless your attorney OK's it.
^^^This^^^
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Old 09-21-2015, 04:17 AM
 
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Do title companies handle closings in your area? That would probably be the least expensive way to go. Otherwise, I'd recommend that you use a real estate attorney to handle the closing.
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Old 09-21-2015, 09:42 AM
 
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Originally Posted by jackmichigan View Post
Do title companies handle closings in your area? That would probably be the least expensive way to go. Otherwise, I'd recommend that you use a real estate attorney to handle the closing.
Thanks everyone! I will call around and find an attorney. Although the offer is coming in from an agent the "buyer" is an attorney which makes me nervous.
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Old 09-21-2015, 11:03 AM
 
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Originally Posted by gray horse View Post
Although the offer is coming in from an agent the "buyer" is an attorney which makes me nervous.
As it should. If an attorney is involved, it's best to have an attorney on your side.
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