QUESTION
can a 6% transaction fee be a seller consession to buyer with no Agents involved
Asked on Jan 27th, 2015 on Residential Real Estate - Colorado
More details to this question:
I have several townhomes and I have agreed to sell one to a current tenant without involving a real estate agent. I have agreed to a lesser price due to not paying 6% to an agent. If this lower price were recorded it could be used as a comp against my other units where I will have an agent. can I legally write the contract for a higher amount and then give the buyer a 6% credit at closing. is this a legal seller concession. are there pitfalls for either buyer or seller
1 ANSWER
3 Awards
You are correct selling the condo at a lower price will create a lower value comparable for future sales. There is nothing wrong with crediting the buyer with an amount at closing to cover his closing costs and/or expected repair costs.
Good luck!
Answered on Jan 27th, 2015 at 5:49 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.