Most people understand when a home is sold through a real estate broker / agent, a commission is paid. Very few understand where that seemingly large amount of money goes, and who gets it in the process. How does the buyer’s agent (confusingly called the “selling agent”) get paid? How does the listing agent get paid? What about the brokerage(s) involved? Does a buyer pay their agent’s commission? What are average real estate commissions in the US? Although real estate laws and practices vary from state to state, we’ll answer those questions and others, so that when you’re ready to buy or especially, to sell, you won’t be at the mercy of whatever an agent tells you. Read More
real estate
Are Home Warranties Worth It? Homeowners Are Saying No
If you’re buying a brand new home – meaning a home that has just been built and has no previous owners – it’s fairly typical to automatically receive a warranty for a set number of years on the structure, its fixtures and appliances – and generally at no extra charge. Builders want to give their buyers peace of mind by guaranteeing the quality of their work and this warranty covers it. Since there’s no additional charge for this kind of warranty, there’s little for home owners to grapple with; yes, they’ll gladly accept the warranty. However, what if you buy a resale home (a home that has had previous owners) and have been given the opportunity to pay into a home warranty? Is it worth it? Do home warranties make sense? Is it yet another scare tactic? Angie’s List., the web source that lets home owners rank, review and find service providers, has kept tabs on consumer feedback on home warranties and the message they got was rather discouraging. Read More
