Archive for February, 2010

How much am I supposed to pay the realestate agent in commission?

Wednesday, February 10th, 2010

If I am selling a house for $35,000 and the buyer is getting a loan for $10,000 more ($45,000), which number should the agent commission fee be based off of? the $35k or $50k?

It may sound silly, but what regulation would I find this information? When I go back to the agent, I will need to site a good source. Saying I got it off "yahoo answers" doesn’t sound that good.
The commission is 6%, I am asking what the 6 % is based off, it seems the sale price.

The real estate agent gets the commission off the price of the house, not the size of the loan. If the buyer had a substantial amount of cash on hand to use as a down payment and borrowed $10,000 less than the price of the house I assure you the real estate agent would ask for the commission on the price of the house not the size of the loan. They can’t have it both ways.

what is the percentage a realestate broker can charge for commission to sell your home?

Monday, February 8th, 2010

This is in California I need quick answers

The standard is 3% to each agent, so a total of 6%. You see 5 a lot too, but if you go too low the selling agents won’t show the house.

What does it mean when i look up homes for sale and it says?

Monday, February 8th, 2010

that the price is 15,000

keep in mind, these are not foreclosed homes
they are not rented homes
and they are from california

http://realestate.yahoo.com/search/California/Pacific_Palisades/homes-for-sale?typeBak=realestate&p=Pacific+Palisades%2C+CA&type=classified&priceLow=0&priceHigh=50000&bedroomLow=&bathroomLow=&search=Search#m=b%3D1%26p%3DPacific%2520Palisades%252C%2520CA%26type%3Dclassified%26radius%3D%26lat%3D34.047045%26lon%3D-118.526514%26datelisted%3D%26priceLow%3D0%26priceHigh%3D50000%26bedroomLow%3D%26searchName%3D%26bathroomLow%3D%26sqLow%3D0%26sqHigh%3DUnlimited%26proptype%3Dall%26nhood%3Dall%26n%3D10%26view%3Dlist%26sortBy%3Dprice%25201
could it just mean they are renting out a room in the house fur such an amount of time?

Those are all rentals, that is 15k a month to rent the house, not buy it or rent a room, you get the whole house.