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Originally Posted by Bobblehead
I wonder what real estate commissions were charged on that?
There is another one this weekend in Falconridge.
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The real estate commission charged is basically the same as what the realtor and the seller have worked out. What happens is the seller and the realtor hire the auctioneers I think the cost was between 500-1000 to do this weekend auction (I have an email somewhere kicking around). I'd bet money that on the open market that house would have sold for more, people are scared or buying things in the untraditional way. Also I'm pretty sure all offers have to be un-conditional.
Couldn't find the email but I do remember the auctioneers are licensed realtors as well so I take in you could hire them but I'm sure the commission would be the regular rate.