"Buyer Premium" Added to Sales Price?
Hi,
We are in Louisiana and made an offer on a bank owned property yesterday. Our bid was $157k but they added a 4.5% "buyer premium" to this plus a $250 fee. Weird. Do you think this is to pay the agent? And did the agent set this up or do all banks operate this way for bank owned properties? Thanks!
Most Popular Reply
This is common and would have been disclosed on the auction description etc. Always read the costs and fees associated with any auction you bid on.