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what is a buyer premium?

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June 04 2010 - Akron
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Lisa I wouldn't pay a buyer premium on a short sale. Normally we only see them on auction properties and the premium is the percentage added to the sale price. So at an auction with a 10% buyers premium if you bid 100,000.00 you would owe 110,000.00.
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June 06 2010
In a real estate auction, a buyer premium is an amount due from buyer at closing in addition to the purchase price.
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June 05 2010
Actually Jason, I deal with buyer's premiums on most of my short sales and auctions. You are thinking of seller concessions. A buyer's premium is due from buyer at closing.
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June 04 2010

A buyer's premium is an amount of money, in addition to the purchase price, that is due from the buyer at closing.

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June 04 2010
It's hard to know without the context in which it  was used, but most likely it refers to a set amoutn of money paid to the buyer to be used for closing costs, upgrades, or repairs.  
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June 04 2010
 
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