Frequently Asked Questions

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A Member Seller is a seller who has registered on churmo.com

A Member Buyer is a potential home buyer who has registered on churmo.com
  • The information that is provided by the buyer upon registering on churmo.com
  • This information includes type of property, and approximate price range
  • The information that is provided by the seller upon registering on churmo.com
  • This information includes ZIP code, type of property, and approximate price range.
  • For the bids that an agent makes on the seller’s property profile, possible factors for the bids may include but are not limited to;
  • No, the bid made by an agent can only be seen by the seller to which the bid is made. This type of bidding is called a reverse bidding process.
  • This is dependent on the bid specifications provided by the buyer and seller, so they vary.
  • Buyers may specify their expected time of purchase and the seller may specify the length of the listing period.
  • The buyer or seller may decide to leave the bidding open and only end it once they have chosen a bid, or they may state a specific time and date that the bidding should end at.
  • If the seller/buyer chooses your bid, they will contact you themselves. Therefore, make sure to provide your most recent and preferred contact details in your post
  • The agent cannot contact the seller until the seller contacts them first. A seller is likely to only contact the agent if they are interested in their bid and therefore in hiring the agent.
  • Churmo does not have an agency relationship with Member Buyers or Member Sellers.
  • Usage of churmo.com is completely free for sellers, buyers and agents.
  • Closing costs are the fees separate from the Realtor (Agent) fee that must be paid at closing. They cover things such as; loan processing, title company fees, surveyor costs (if needed), recording of the deed, insurance, any taxes or homeowners association fees, which may need to be prorated if they're already paid
  • The amount of the closing costs will vary with each home sale/purchase and are usually a percentage of the property’s purchase price.
  • Sellers pay the real estate commission.
  • The commission is a percentage that will be outlined in the agents bid to the seller
  • In addition, the amount of closing cost covered by the buyer and the seller may be negotiated by the realtor.
  • While agents cannot pay an unlicensed person a commission, they can decide to rebate a portion of their commission to the buyer as a closing cost credit or to pay part of the down payment, providing the buyer's lender will allow it.
  • No, a realtor fee is separate from the closing costs.
  • No, a buyer cannot view the list of properties for sale by the member sellers.
  • The agent will provide the buyer property options that they have deemed most appropriate for the seller from their Purchasing Profile.
  • Percentage commission will vary across agents. However, a seller may require the agent to state their percentage commission fee in their bid, in which case the seller may select the bid with the most suitable commission fee for them.
  • A rebate is the portion of the commission offered by the seller's agent to the buyer’s agent bringing the buyer is credited/rebated to the buyer at or after closing.
  • Whether the buyer receives a rebate or not and what percentage it will be may be specified by the agent in their bids to the buyer.
  • They are not necessarily the same, but they may be. In the case where an agent represents both the buyer and the seller, a rebate to the buyer is more likely.
  • NB: Dual agency is illegal in the states of Alaska, Colorado, Maryland, Texas,Florida, Kansas and Oklahoma
  • Churmo does not negotiate or require that contracts exist between a Member Agent and Seller/Buyer.
  • However, we recommend a contract is made to represents each party’s best interest. This is not Churmo’s responsibility nor will they be involved in the process.