I'm going to buy a house and flip it for money, but i would like to know how much money do i have to pay the realtor.(OR ANY EXTRA FEES THAT IM NOT AWARE OF) If anyone can help me with some good answers. (if it helps to answer the question I live in washington state, pierce county.)
2007-03-17 16:12:35 · 7 answers · asked by junior 1 in Business & Finance ➔ Careers & Employment
Usually you pay 6-7% to the realtors, but chances are that you'd get a lower price on your home if you didn't use a realtor. Closing costs vary GREATLY from state to state. My advice is to interview a few realtors in your area without signing a contract with any of them.
2007-03-17 16:17:08 · answer #1 · answered by It's Me 5 · 0⤊ 0⤋
most Realtors charge between 6% and 7% and it is customary for the seller to pay half of the closing cost which is approximately 1.5% and maybe repair cost. I am selling my house and I am paying 6% half of the closing cost and $500 for repairs that is customary with the Realtors I am going through.
2007-03-17 16:18:57 · answer #2 · answered by ♫Rock'n'Rob♫ 6 · 0⤊ 0⤋
none usually when purchasing. When selling if you use a realtor between 6-7% of the sales price & sellers fees of maybe 1.5% not including if you pay for buyers closing costs which run between 2.5-3%
2007-03-17 16:17:42 · answer #3 · answered by blank 4 · 0⤊ 0⤋
commission is based on the sales price of the house...
I dont know if you have been watching the news but the housing market is not doing so well.
If you cannot do the work yourself to flip the house, you will end up owing money at the end of that deal. Any chance you could rent the house if it does not sell?
I would say NO to this deal but if you think you can, go for it just make sure you can pay the expenses for your place and the place you are planning to purchase for at least 8 months.
2007-03-17 16:16:44 · answer #4 · answered by karen g 4 · 0⤊ 1⤋
Count on walking away with 90% of your selling price. When i sold my home for 293K...i walked away with 265k (although i did put 3k towards sellers Closing costs to get the deal done. But 90% is a good figure to use to find out what you will walk away with.
2007-03-17 17:35:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I would guess average is ... for $100,000 house ....... realtor commision = 6000 .......... `closing costs and others .... 3000 .... total cost to sell = 9,000.
2007-03-17 16:16:36 · answer #6 · answered by burlingtony 2 · 0⤊ 1⤋
dude that is risky business especially in todays market it's a buyers market now there are more unsold homes then there has been in a LONG time becareful doing that you may wind up losing a lot in the end
2007-03-17 16:15:23 · answer #7 · answered by Anonymous · 0⤊ 1⤋