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Updated about 5 years ago on . Most recent reply
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Buying without a Realtor---Saving Money?
Hello,
I am in the process of making my second purchase in Sioux Falls SD. Im not using a realtor as I feel I know what I want and I know the neighborhoods.
I have thought of using an attorney to draw up the purchase agreement but I want to entice the seller with the opportunity to save money as he will not have to pay for the commission on my side (if I had a realtor). That way it looks like he is saving 3%, (6% total/split between the buyer/seller realtors). Am I correct on this one?
How do I write this or word it on the purchase agreement?
Also I thought I read on BP that the seller agrees to pay a 6% commission and then they split it up between the buyer and sellers realtors? Would I just be giving the sellers agent the full 6%?
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The seller has an agreement with his realtor on what commission is paid, the agent would get the whole commission. Usually, sellers with agents have anyone that contacts them go through their agent.