Final answer:
Realtor fees of about 10% are not charged when you buy a home. The statement is false.
Step-by-step explanation:
Realtor fees are typically not 10% of the home purchase price. When you buy a home, there are several costs involved, including closing costs and realtor fees.
Closing costs are expenses like appraisal fees, title fees, and legal fees that are paid at the closing of the home purchase. These costs can vary depending on factors such as the location and price of the home.
On the other hand, realtor fees are typically paid by the seller of the home, not the buyer. The fees are usually a percentage of the final sale price, with common rates ranging from 5% to 6%.
For example, if a home is sold for $250,000, the realtor fees might be around $12,500 to $15,000, not 10% of the purchase price. The statement is false.