Real Estate: Florida/Realtor and closing fees
My husband and I are looking to buy a home in the tampa area. We wanted to know what the realtor fees would be and what would the closing fees consist of?
Also, if we buy a new build direct from the builder would we need a realtor? What would the pros and cons of having a realtor be for a new build house directly bought from the builder?
As a buyer you should not be paying the real estate agent (your buyers agent) any fees. The buyers agent will be paid their commission by the listing agent/seller.
As a buyer you will have closing costs. It is a little hard for me to tell you what those will be because I do not know your details such as financing or cash purchase, purchase price etc. But, in general, if you are financing I would count on 3% of the purchase price as a good round number.
Any good real estate agent should be able to sit down with you and estimate your expected closing costs. The part of the closing costs the real estate agent will need is your loan costs. That you will get from the lender. If you can provide your loan costs to the real estate agent they should be able to give you a very good estimate of your total closing costs.
Also, your lender will provide you with a good faith estimate or disclosure of closing costs. You should get these estimates from both sources and compare.
As far as new build...you can have your own representation or real estate agent. This agent is also paid by the builder and I highly recommend it. Remember, the builders representative works for the builder. If you do use a real estate agent make sure they have experience with new construction and how to negotiate on your behalf.
I also recommend having your own new construction inspector. Make sure the builder's contract allows you to bring an inspector on site during the build process.