Comments on: Who pays the real estate agent when a foreclosed home is purchased?

By: godged

godged — Sat, 10 Oct 2009 04:36:26 +0000

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

By: Extreme

Extreme — Sat, 10 Oct 2009 04:28:34 +0000

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

By: hollywoodmelody

hollywoodmelody — Wed, 07 Oct 2009 06:15:04 +0000

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……

By: Dizzy_Lizzy

Dizzy_Lizzy — Tue, 06 Oct 2009 10:58:53 +0000

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.

By: newjerseyguy

newjerseyguy — Sat, 03 Oct 2009 06:54:11 +0000

By the seller.