FSBO Realtor fees and closing costs?
We have been looking for properties for a while now with our realtor, but just recently found one through a family friend who is selling it FSBO, and we are looking to purchase it to make it into a vacation rental. I'm just wondering if the process functions any different on our end with our realtor since we are communicating/negotiating directly with the sellers on price (how involved does our Realtor get when they are selling it FSBO?) Our realtor said she can put together the FSBO paperwork, but are there different fees (or cheaper?) involved that we would owe our realtor compared to a normal real estate transaction? Are closing costs any different? Thanks all!
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You should have signed a buyer broker agreement. On that agreement, it should say something like if the seller does not agree to pay a commission, then you agree to pay them. It should also say that even if you find the property yourself, your agent is owed a commission because they are dedicating time and expertise to assist you in your purchase. If you do not have a buyer broker agreement, then the agent messed up.