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sylvan butler
 
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Default Ended up buying my roomie's condo. Should I compensate buyer's agent?

On Sat, 27 May 2006 19:27:41 GMT, Lady wrote:
You can ask anything you want - doesn't mean it will happen -- if I was
selling a condo without an agent and someone came in and made and offer and
expected me to pay the fee I would not accept the offer -- if I wanted to
pay a agent I would not have listed it as a for sale by owner!


Perhaps you would pay if you wanted to sell.

I purchased a house a few years ago, using a buyer's agent, where the
house was listed as FSBO. My initial offer stipulated that the seller
pay my agent's commission (3%). The owners countered to avoid paying
the commission. My agent countered by dropping my offer 5% (since I
would have to pay the commission in cash at closing instead of financing
it as part of the mortgage). The seller asked for the initial offer,
and I gave it to them. Of course, the property had been on the market
for almost one year (the first six months with an agent) and they were
getting ready to move across the country... (And they had reduced their
asking price by $60,000 and I offered another $10,000 less.)

sdb
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