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Friday, May 29, 2009 'Junk fee' backlash echoes online
Although questions about their legality remain, a growing number of real estate brokerages are charging consumers flat fees on top of their traditional percentage-based commissions.
Federal courts of appeal have issued differing rulings on whether such fees may violate the federal Real Estate Settlement Procedures Act (RESPA), but legal experts say brokerages can defend themselves against lawsuits by making sure the fees are properly disclosed. More » Gloomy foreclosure forecast
Mortgage problems expected to drag well into next year
Buyers put a dent in inventories
Less progress at high end of market
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From Global Edge Latest News »
READER COMMENT "What line on the (HUD-1 form) a fee appears is the kind of argument lawyers love to engage in ... and bill for. It does not address the underlying issue of the nature of compensation in the residential real estate industry." --Jay Zenner | 
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