Buyers: Take Advantage of a Free Service (Follow Up to last post)

In my last post I gave a basic overview of how agents make their money (for the benefit of all you first time home buyers out there). I did want to give a small caveat, though: although the seller pays a comission to the listing firm who in turn shares that comission with the selling firm, there are typically processing fees that are charged both the seller and the buyer. So, as a buyer you might be asked to pay such a fee (it could range anywhere from $200 to $400). This is also a contingency based fee and it is only due at closing as part of your expected closing costs.