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Originally Posted by Normal
That’s just what our title company charged. They did walk us through the whole FSBO process though. They gave us the disclosure documents for the buyer to sign, the earnest money documents, brokered the deal and all the legal support. They also did the closing at their office and wired all the appropriate funds to us.
Some of these realtor clowns down here are charging 5% on a sale! They aren’t in touch with the new reality yet for this market.
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Thanks for the explanation. The typical listing contract requires the broker to find a "ready and willing" buyer to earn the sales commission. Period. Legally, the broker does not need to perform any other work, although they do want to facilitate the completion of the sale. Title searches, deed preparation, legal work, and other related fees are charged to the buyer and seller and they are shown on the settlement statement. Some real estate agents want their clients to "think" that they are providing services that they really aren't providing.
Note that some sellers don't realize that, if the broker finds a buyer, but the seller backs out of the deal, the broker can sue the seller for the commission.