To directly answer the question does the Realtor "charge" a commission to the buyer? The answer is usually no. Does the buyer's realtor get paid a commission yes. It is usually paid out of the seller's proceeds. Yes that amount is always taken in consideration of the sales price to the seller. As a buyer your agent is there help you navigate your many options and should help you to understand the advantages and disadvantages of various properties as they pertain to your particular situation. They also are there to help you negotiate the best deal possible for you and hopefully introduce you to options you did not consider before. For these services your agent should get compensated but you do not have to write a seperate check to your agent as they are getting compensation from the closed transaction. Most of the companies/agents that will pay a rebate are not full service agents and will want you to do all the homework yourself and only write up the offer in anticipation of a watered down paycheck. Choose your agent wisely. Read reviews on your agent ask for references if you do not know them, and if you have a friend who has had a great experience with an agent (not necessarily a cousin's wife's negihbor who happens to sell real estate) chances are they are a good agent. Also look and see if your agent has earned any designations (letter's next to their name) that usually means they are serious about the business and have invested time and money in education to be better agents. The top designation I look for in sending a referral to an out of area agent I might not know personally is CRS (Certified Residential Specialist). Only the top 4% of the agents have earned this designation. Good luck in your home and agent search.
The foreclosure stall is not a new tactic by the bank and in looking at the history in 2008 and 2009 we saw the same stalls. These stalls will most DEFINITELY effect the market and will cause a temporary slow down of foreclosures to hit the market (not Wells Fargo). Look to what happened after the past stalls in 2009 and 2010 Q1...REO properties soared up and recovery of the Real Estate Market will continue to be effected by this perhaps even slowing down recovery nationwide to 4-7 years more.
Actually I will challenge the other answers and say that it is not always in your best interest to use a different agent than the listing agent. We have had great success representing both sides on a transaction...it cuts out the middle man, any guessing and takes it straight to business which is what the transaction should be...business!Besides the bank represents themselves, they are not really looking to the Realtors for advice, they have a bottom line too.
Well, if you can get the answer I think it is a pretty important one to have answered and there is no sense in going through an escrow when all parties know there was a issue with it. On the flip side, it might have been an issue with the buyer that has nothing to do with you. Perhaps you could get a hold of any disclosures they now have on the property to gauge if this is a good match for you or not!We have a property in Incline Village that has been in and out of escrow a few times. I gotta think that by now they would want to disclose it all up front before truly becoming a 'tainted' property.
We track the inventory daily in our market of Incline Village, NV. We post a weekly and monthly blog on the statistics, new listings, new escrows, sales, etc. Check out our blog for the most recent market data at www.TahoeHomesBlog.com .