Will I Have To Pay Commission?
A: Very possibly. Id encourage you to refer to the written buyer agency agreement I assume you have.
A: This depends upon whether or not you have a buyer broker agreement stating that you agree to purchase a home through that Realtor during a specific time and that they will earn a specific fee. This fee is normally paid by the seller. If you do have this agreement then you could have called your agent and had them represent you on the FSBO. The seller of the FSBO could have agreed to pay the agent to handle the transaction.
A: It doesnt sound like you would be responsible for paying a commission unless you signed a buyer/broker agreement where you agreed up front to make sure your agent was paid regardless of if the property was listed or not. Hope this helps.
A: You need to find out and verify if you have a buyers agent agreement signed between you and the Realtor. That is the document that legal ties you to each other.
My personal opinion (I am a realtor). I would go to the FSBO and say that you have a REALTOR and they will be helping you through the transaction. And good chance the REALTOR will be doing tasks for the Seller too. So that you both can split the cost. I would not buy a home with out a REALTOR.
You are buying the largest investment you might own and your doing it on your own with out professional help. That would be like buying a doing a will and estate planning via Office Max. That is to much to risk. I think the realtor and the buyer and seller can work out an agreement that would protect everyone.
Google FSBO buying a home expierences, I have heard of a dozen stories that would scare you. I have been on both sides of the fence.
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