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Realtor Sends Invoice |
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Help! I can't get in touch with my realtor! I recently sold my house. I received an invoice from my realtor's office stating the funds I will need at closing. The figure is showing the realtor's commission, less escrow deposit of $1,000. Is this money that came from the buyer? And is that coming from the net proceeds from the sale of my house? |
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You can rest easy. Hope I can explain that statement of seller proceeds--That escrow deposit is earnest money that the buyers have deposited with the Realtor. It'll be used as part of the commission, so you will pay your broker $1,000 less, at closing, than the full commission. The buyers will get credit, at closing, for the $1,000 they've already put up, but that needn't worry you. Take my word for it -- they're paying the agreed-upon price, and you're paying the agreed-upon commission. It all works out. |
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Edith
Originally published on July 25, 2008 |
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