DIYbanter - View Single Post - Ended up buying my roomie's condo. Should I compensate buyer's agent?

(D. Gerasimatos) writes:
In article ,
Travis Jordan wrote:
D. Gerasimatos wrote:
Proper etiquette is to have her represent you on the transaction and
have the seller pay her fee.

The seller hasn't listed the property for sale. This was a private
transaction.

I understand what it was. I am answering the guy's question about the
proper thing to do, which is to have the seller compensate his agent.
If the seller hadn't lucked into this guy, then the seller would've
had to pay those fees and then some (for the listing agent as well).
It is not unreasonable for the buyer to ask the seller to pay his agent's
compensation, whether the seller is a friend or not.

It would be unreasonable, however, to expect the same negotiated sales
price AND have the seller pay the commission with the seller when the
price was agreed upon under the auspices of a private realtor-free
transaction.

Either way, ultimately, the buyer really is paying the agent's
commission, and that's what the original poster is trying to do, but
they appear to be asking how, in this instance to get it into the
contract such that he can finance the commission in the mortgage
rather than having to pay straight cash out of pocket, or hw to
otherwise compensate the agent for this unusual circumstance.

And they all remain great questions for the financing guy and/or the
lawyer who is handling the paperwork of the transaction.

--
Todd H.
http://www.toddh.net/