Buyers often ask if they pay for the buyer’s agent real estate commission. The answer is no.
Buyers don’t pay the agent commission, the seller does. This is great for you as a buyer because it lowers the amount of cash you need to buy a property, but keep in mind you will have to pay both commissions when you sell. I say that it averages out to half a commission each transaction, but it is loaded on the backend. If you never sell, you never pay.
With some deals, if you are running short on cash, and it’s a slow market, you may be able to work out a deal with the seller to help pay for your closing costs. Don’t expect to get any concessions on balanced or seller’s markets.
At closing, Escrow prepares a closing statement, which is all the actual closing costs.