Who pays commission when you buy a home?

• Commission are built in to the price of the home. The seller pays agent(s) from the proceeds of selling the home. Average commissions are 5-6%. On a $300,000 home purchase, agent(s) can make up to $18,000 with the 6% commission.

What is a short sale?

• This is an option for home owners who are struggling and can no longer make mortgage payments. As an alternative to bankruptcy or foreclosing a house where your credit is destroyed, you can work with lenders on a short sale. The original mortgage lender is willing to accept a lower payoff to release you from the mortgage contract due to extreme hardships you might be facing. It is a lose lose situation for both parties, but better than bankruptcy or foreclosing where the lender might not recover any money at all.