Posted by Pat on January 31, 2006 at 21:28:34:
Sounds like instead of paying the standard 3% to the buyer’s agent, you’re paying 2.5% to the attorney to cover his/her closing costs and/or expenses. Had the buyer engaged a real estate agent to assist with the purchase, the seller (you) would have paid a 3% commission to the buyer’s agent.
Someone correct me if I’m mistaken…
thanks
what does this mean exactly?? - Posted by Bart
Posted by Bart on January 31, 2006 at 20:12:01:
can anyone help me decipher this contingency written by a buyer in a contract to purchase my house? I want to make sure that I understand it correctly. Here is what it says:
"buyer is an attorney, In lieu of any commission to buyer or agent acting on his behalf, 2.5% of the purchase price will be applied towards buyers closing costs and pre-paid expenses.
what do you make of this?
thanks