im planning on buying a home. i wanted to know who pays the realestate agent. buyer or saler and how upfront o

Question

or afterward

Answer 1

Technically, the seller pays both agents, but it comes out of the proceeds of the sale, so both end up paying it in the end.

You don't pay the agent anything upfront! The only money you give them is the check for the buyer called earnest money.

Work with someone who specializes in first time home buyers so you can get some info. Make sure you can get perapproved for a mortgage before wasting an agents time, and look at a price range WELL BELOW what the mortgage company says you can afford. I would reccomend 20-30% lower. Why? One, you won't be financial stretched. Two, most people usually go up in budget anyway.

But now is a good time to buy if you have decent credit!! Good luck and congratulations in advance!