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What does the "financing terms" mean on the Exclusive Brokerage Listing Agreement?

Specifically if "Other" Land Loan is checked, what does that mean?
Also what is the rate of commission for Key Largo Florida, 33037?
  • November 06 2013 - Key Largo
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Answers (3)

The financing terms means what type of financing, if any, the seller is willing to accept.  FHA has special clauses, VA is great for our veterans but it requires the seller pay certain items.  Some properties may only be able to sell if it is a cash offer or owner financing.  This is where your REALTOR can help.  

As to rate of commission, that is negotiated between the seller and the agent. There is no "standard" commission.  It depends on the services that each agent offers, as well as the needs of the property.  I have seen from 4% - 10%, but that varies according to each transaction.  Anyone who tells you there is a standard commission among REALTORS is wrong.  
  • November 07 2013
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Financing terms means the type of financing the buyer is obtaining. FHA, VA, Conventional, etc. Generally, the industry "standards" for commission is 3% for the buyers agent and 3% for the listing agent. Like Hamp has already said, this can be negotiated but buyer beware, value is what you get...price is what you pay. You CAN get an agent down to less commission but what are you truly getting for that, less service perhaps?
  • November 07 2013
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Are you listing a building lot, or acreage? The rate of commission is negotiable. Your question is a little vague.
  • November 06 2013
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