5 Responses to “Who pays the real estate agent when a foreclosed home is purchased?”

1. newjerseyguy
   Comment by newjerseyguy | 04/01/09 at 3:15 pm

   Buffalo Grove homes

   By the seller.

2. Dizzy_Lizzy
   Comment by Dizzy_Lizzy | 04/01/09 at 9:57 pm

   Missoula mt Commercial Real estate

   If the bank owns the home, chances are they’ve listed it with a real estate agent of their own. Your agent should be able to look up the home in the MLS to see what the seller will be paying as a buyer’s agent’s commission.

3. hollywoodmelody
   Comment by hollywoodmelody | 04/04/09 at 7:36 pm

   Sacramento Commercial Real Estate

   If the house is an REO(bank owned) then the commission is paid by the lender who owns the property. If it is a foreclosure,the seller of the home pays the commission. If you use an agent you are also responsible for his commission but sometimes Buyers can request the commission to be paid by the Seller. Look over your Purchase Contract to verify. Your Escrow Instructions would also state who pays what……

4. Extreme
   Comment by Extreme | 04/06/09 at 12:14 pm

   Document Shredding

   All commissions come from the sale of the property and gets deducted from the purchase price

5. godged
   Comment by godged | 04/07/09 at 6:25 pm

   Oakland retail space

   The seller, in this case the lender, pays the agents.

Comments are closed