Who should benefit from a private real estate sale where there are no realtor fees?
Two couples have amicably owned an investment property for 10 years. One couple is interested in selling their half but is not in need to do so. The other couples adult son is interested in purchasing the other half. He is presently a renter in the property.
The sell price has been established however there are two positions on how to address the absence of realtor fees.
Party who is interested in selling understands the absence of a realtor fees is an advantage but not one it can rationalize handing to the son of the other party. The parents of the son see the absence of realtor fees as being one that should come off of the ask price.
- zipperLv 68 months ago
The fee is his charge for the sale, so I understand why the parents of the son want it off the table; but the other seller is seeing it as extra profit from the sale. They also have a valid point of view. Per hap a compromise of half the fee being removed would work for all concerned!
- realtor.sailorLv 78 months ago
The parents of the son are wrong! Realtor fees are not on top of the purchase price, they are included in the purchase price. For the seller that means a higher net. For the buyer it means nothing as he would have paid the same price if a Realtor has been involved.
- real estate guyLv 78 months ago
you split it 50/50
- SlickterpLv 78 months ago
Nothing comes off the price. The property is worth what it is worth. If the seller doesn't incur fees, then they make more on the sale. The value of their half does not change, and the buyer pays the same amount either way.
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- curtisports2Lv 78 months ago
If there is a discount, it is split 50/50 between the two halves. The party buying the place does not get the full discount while the selling party takes it in the shorts.
- JudyLv 78 months ago
It already CAME off the proce when the price was established.
- DEBSLv 78 months ago
At best you split the difference, BUT unless this house is listed on the open market there's really no way to know what the true value of the property is. How do you know if it was on the open market that someone wouldn't offer more? If the buyer wants ownership, then they pay the offered price. Period.
- Anonymous8 months ago
If there are no fees being paid, why do they expect anything?
- SHIRLEYLv 58 months ago
No realtor=no fees=no discount from selling price
- pearlmarLv 78 months ago
The seller usually pays the fees. I would take 2 1/2% off which really doesn't matter much at all.Source(s): Retired RE Broker.