As someone who tried to buy a house 2020 and gave up due to inflated prices, and waaaay above asking prices, this change sounds like a bad thing for a first time buyer. So not only do I need to produce 50-65k down payment, closing costs, now I need to worry about footing 6% of the home value to split between the selling/buy agents? I’ve read a few articles about this, and I don’t see any way this is a good thing for anyone but the sellers. If I’m misunderstanding something about this change, hopefully some one here and help me understand.
As someone who tried to buy a house 2020 and gave up due to inflated prices, and waaaay above asking prices, this change sounds like a bad thing for a first time buyer. So not only do I need to produce 50-65k down payment, closing costs, now I need to worry about footing 6% of the home value to split between the selling/buy agents? I’ve read a few articles about this, and I don’t see any way this is a good thing for anyone but the sellers. If I’m misunderstanding something about this change, hopefully some one here and help me understand.