I would like to know if the buyer or seller is responsible for broker/agent commission fees.
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The Real Estate commission is paid from the proceeds of the sale of the home. In most cases, the Seller pays the commission.
That may depend on state law, and it may depend on what the seller and buyer negotiate in the transaction. In cases where state law is involved, HUD 4000.1 states: "If a Borrower is represented by a real estate agent and must pay any fee directly to the agent, that expense must be included in the total of the Borrower’s settlement requirements." Also, where applicable, "Payment of real estate agent commissions or fees, typically paid by the seller under local or state law, or local custom, is not considered an Interested Party Contribution" for the "six percent rule".
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