How is the realtor fee, and other closing costs, adjusted on very cheap homes?

[Gary Dezoysa]

Hi, I'm trying to figure out what to expect in terms of closing costs as a percentage of purchase price for cash purchases on homes priced under $30,000.

I know I'll save on credit report fees, loan origination, and title insurance.

How about the realtor fee? For such a cheap home bought off the MLS, should I expect to pay more than 3/6%?

[NA Jones]

Did no one read the part about the OP talking about it being a cash purchase?

From what I can tell (not based on experience, just observation and education) the commission on a <30k purchase will vary by the property and the agreement made between the seller and the listing agent. That information is available to agents privately on MLS. I've searched alot of homes on MLS in the 30-50k, and the compensation is outlined as either a percentage (usually 2.5-3% each) or a flat amount.

As the BUYER, you won't typically pay your agents commission anyway.  If you did have to pay your agents commission, you would pay them what is outlined in the buyers agent agreement you signed when they locked you down as their customer.  You can refer to that to see what you will be expected to compensate your agent in the event that the seller doesn't pay them.

That said, I'm expecting - again based on my own research - the buyers closing costs on a 30k cash purchase to be 1-2k.