Find Real Estate Agents and Homes for Sale




Real Estate Message Board and Forums / Ask an Expert / Who pays the real estate agent when a foreclosed h
login
join
search

Who pays the real estate agent when a foreclosed h - Ask an Expert

moderated by webmaster@iqrealestate.com  Reply to Discussion | New Discussion << previous || next >>  
Posted By Discussion Topic: Who pays the real estate agent when a foreclosed h

Printer-friendly Version  send this discussion to a friend  new posts last

Add a New Post timeless
Get Messages 01-31-2012 @ 5:41 AM                          
reply
send p.m.
Member
Posts:
Joined: Jan 2012
          
To understand who pays real estate commissions -- whether it's sellers or buyers or both -- first take a look at how real estate agents are paid and how they share cooperating commissions. Don't be embarrassed if you don't know how commissions work because I've had clients who didn't know, even though I had sold their home, represented them to buy a new home and then later listed that home for sale.

Add a New Post campbellsimon
Get Messages 10-04-2012 @ 8:00 PM                          
reply
send p.m.
Member
Posts:
Joined: Sep 2012

          
In the case of your particular scenario, the seller would be the lender or bank that foreclosed on the home. If it's an REO, or bank owned property, the bank should negotiate the real estate agent's commission. If it's owned by a private lender, they would be responsible for the commission. The seller is not always a private party. In the case of foreclosures, the seller is whomever currently holds the title, like the bank or lender.