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Buying real estate Options
Helenej
Posted: Saturday, February 10, 2018 8:33:50 AM

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Location: Kiev, Kyiv City, Ukraine
If a person buys an apartment/a house from another person in your country, who pays the realtor?
jacobusmaximus
Posted: Saturday, February 10, 2018 3:36:10 PM

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Helenej wrote:
If a person buys an apartment/a house from another person in your country, who pays the realtor?


In the UK a Realtor is called an Estate Agent. The seller pays the Estate Agent. Both Seller and Buyer pay legal fees to their respective solicitors.

I remember, therefore I am.
Wilmar (USA)
Posted: Saturday, February 10, 2018 4:04:39 PM

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Location: Vinton, Iowa, United States
In the US, the seller pays the real estate agent.

And you should also know that the term realtor is not generic.
Realtor = A service mark used for a real-estate agent affiliated with the National Association of Realtors.
Alexsander
Posted: Saturday, February 10, 2018 5:38:10 PM

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In Canada you have to pay up front.
Helenej
Posted: Saturday, February 17, 2018 2:06:47 PM

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Location: Kiev, Kyiv City, Ukraine
Thank you for the replies.
I also wonder if an apartment or a house can be sold without a real estate agent's help.
Romany
Posted: Sunday, February 18, 2018 6:33:21 AM
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Yes it can. Many people make private sales to avoid having to pay the rather hefty fees charged by estate agents.

However, if contemplating doing this, a person would have to be well-versed in the laws and constraints that apply. With no experience in this very thorny subject it's very easy to tie oneself up in knots, and for contracts to be invalid.

A buyer would have to run it all by a solicitor in any case, to be sure everything was done correctly. So in this case, while the seller won't pay any fees, the buyer will have to fork out for solicitor's fees - which could be very heavy if the Contract is faulty and has to be revised and negotiated.
srirr
Posted: Wednesday, March 7, 2018 1:22:34 AM

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Location: Delhi, NCT, India
In my country, the common term used is real estate agent or estate agent or property agent or property dealer. Technically, one may argue on the difference in nuances, but in day-to-day conversation, all are commonly understood.
One may take help of the agent in buying or selling the property/ apartment, but it is not mandatory. Although because of various reasons, this is a common practice. Besides being a mediator between the buyer and seller, the agent is also supposed to be helpful in legal formalities and paperwork. For this, both the parties may pay him a commission. This is however negotiated in the very beginning who need to pay at what percentage.

We had a property which we sold about 20 years back without consulting any agent. The buyer was searched by propagating our requirement through word of mouth.


We are responsible for what we are, and whatever we wish ourselves to be, we have the power to make ourselves. ~ Swami Vivekanand
kitman
Posted: Monday, March 12, 2018 2:09:27 PM

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Location: New York City, New York, United States
And what percent are paid to a realtor?
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