Buying a foreclosed on home...who pays the realtor?

Question

Hey Guys--

We are buying a bank owned property and are under the impression that the seller ( the bank) is responsible for the paying the buyers agent. Is this true?

Thanks in advance!

Answer 1

yes unless otherwise stated in the acceptance--read it carefully

Answer 2

They pay them, but it is usually a short commission, closer to 2% then 3.

Answer 3

The seller ALWAYS pays the realtor. A buyer NEVER pays their realtor.

Get qualified first (paystubs/W-2/bank statements/credit cleanup)! Your realtor will need an LSR (preferrably with an AU approval) which tells a seller that you CAN get financing and CLOSE the purchase.

Best of luck!