Fees charged to the seller or the buyer: what is the difference?
What is the difference between the fees charged to the seller and charged to the buyer?
Hello hello 👋🏻
Who says back to school says new blog article! 🤪
School purchases are made, the children have returned to school... Maybe you can get back into your real estate project? 🤷🏼♀️
You have probably noted in your search for property, the mentions "fees charged to the purchaser" or even "fees charged to the seller", right?
But what is the difference & what does it change for you?
We explain all this in this new article! 😌
PS: & if you haven't read our last blog, there's still time to click on the link below:
When a sales mandate is signed, the agency's fees may be borne by the seller or by the buyer. In itself, for the seller, this has no impact, which is not necessarily the case for the buyer. 🧐
Let me explain: in the case of fees to be paid by the buyer, the notary fees are calculated on the net selling price, i.e. excluding agency fees. For example, if the property is displayed at € 210,000 (including € 10,000 agency fees), the notary fees will be calculated on the € 200,000 net seller. Knowing that these amount between 7 and 8%, we can consider that there will be about 16 000 € of notary fees (200 000 * 8%).
On the other hand, when the fees are the responsibility of the seller, the buyer will be paid an additional cost with regard to the notary fees, since they are calculated on the sale price of the property so with the fees of the agency. If we take our example, the buyer will therefore pay 800 euros more than if the fees were charged to the buyer (210,000 * 8% = 16,800 €).
Of course, the higher the agency's fees, the higher the notary fees too.
In conclusion: the buyer has every interest in looking at this small mention on the ads, allowing him to save a few hundred euros! 😌
PS: The display of fees according to the seller or buyer charge is not the same. Indeed, when the fees are the responsibility of the buyer, the real estate agency has the obligation to indicate the price agency fees included, the percentage of fees and the price excluding fees. This is enough to help you distinguish even more the different mentions charge seller / buyer! 🤓
Frequently Asked Questions 💬
💬 What if the property I spotted is in several agencies?
You need to see if the fees for the property are the responsibility of the seller or the buyer. If they are all the responsibility of the buyer, you can also compare the amount of the fees. ☺️
💬 If the fees are the responsibility of the seller on the advertisement, can we ask the agency to charge them to the buyer?
When the mandate of sale is signed (regardless of whether the fees are the responsibility of the seller or the buyer), and the advertisement of the property is already broadcast, it is impossible to modify subsequently who is responsible for the fees. 🙂
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Vienne (86)
Publié le 02/09/2022 par
Fanny BOUGARD
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