What and how should I pay my realtor for FSBO I found?
Hello again. So the house we were trying to buy from the divorcing couple did not work out. They accepted another offer and did not accept our back-off offer which was $3000 under their asking price and we asked for $4000 in closing. We gave up on that one!
I looked at a for-sale-by-owner home today and like it a lot. My realtor was stuck at the office and I happened to have the day off so I checked it out. It's priced very reasonably and has about 90% of what we are looking for in a house. My realtor is taking us to look at 7 properties tomorrow morning. I told her yesterday that I was grabbing a flyer from this FSBO property but haven't told her I like it yet.
My question is this. Say the house I want to buy is $260,000. Would I have to pay my realtor out-of-pocket in order for her to get some commission if we buy a FSBO? We used her as a selling agent to sell our house and she did a great job. I told her we would use her as a buying agent but we didn't sign a buying agent contract. I would still like her to get a commission when we buy a place but I don't know how it all works. Our first house was new construction so I am new to the buying process. Any advice is welcome, and I apologize if this has been asked before.