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In central Ohio, the commission is often 3% of the sales price to each. A seller, for example, would pay a total of $18,000 ($9,000 to agents on each side) on the sale of a $300,000 home.
If you now sell the house, your cost basis would be $535,000, as the home cost you $500,000 and the kitchen and boiler both count as upgrades to the property ($25,000, plus $10,000).
However, even lawyers can only perform real estate activities that are incidental to their original work as a lawyer. It cannot be the case that a lawyer can become a seller's selling agent if that is all the service that is being requested by the client. Lawyers would still need to be licensed as a broker if they wish to perform licensed ...
So, if you sell your house for $400,000, say, you could end up paying your agent $12,000 in commission. However, you may be able to negotiate a lower commission , especially if the sale price is ...
A house for sale by its owner. For sale by owner (FSBO) is the process of selling real estate without the representation of a broker or agent. This is where the homeowner sells directly to a new homeowner. Homeowners may still employ the services of marketing, online listing companies, but can also market their own property.
State agencies promulgate rules and regulations (sometimes called administrative law) in the Register of Ohio, which are in turn codified in the Ohio Administrative Code (OAC). Ohio's legal system is based on common law , which is interpreted by case law through the decisions of the Supreme Court, District Courts of Appeals, and trial courts ...
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