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Results 1 to 6 of 6
  1. #1
    smarie is offline Renter
    Join Date
    Aug 2009
    Posts
    1

    Default Realtor Trouble

    I am currently in escrow on a short sale property and have been working with my Realtor since April and things were going well. Last week I received an email from my agent stating that I needed to sign the attached invoice of $400. The invoice was said to cover 'TC fees' and 'extra processing of paperwork' involved in the short sale. There was no previous mention of the additional fee until the invoice appeared in my inbox. I asked multiple times for details on the work performed without an adequate response.

    Am I responsible for the additional fee or should it be covered in my agents commission for the sale? Is my agent trying to take advantage of me as a first-time homebuyer?

  2. #2
    Greg is offline Moderator
    Join Date
    Sep 2007
    Location
    Outer Banks
    Posts
    1,281

    Default

    Do not sign this invoice. Your agent agreed to do the work for the expected commission so they need to deal with it. Short sales are a lot of work and if your agent did not know that before they got involved then that is their problem.

    These fees are not legal.

    http://www.realtor.org/diversified_r...re+do+they+fit

  3. #3
    jamesww's Avatar
    jamesww is offline Home Owner
    Join Date
    Apr 2008
    Location
    Houston, Texas
    Posts
    631

    Default

    Quote Originally Posted by Greg View Post
    Do not sign this invoice. Your agent agreed to do the work for the expected commission so they need to deal with it. Short sales are a lot of work and if your agent did not know that before they got involved then that is their problem.

    These fees are not legal.

    http://www.realtor.org/diversified_r...re+do+they+fit

    I whole heartedly agree with Greg on this issue except for placing the link above as pertaining to the fee you have discussed. That link discusses transaction fees that many brokerages are trying to through in on the buyer to up revenue. I think it is b.s. and it has been noted as not being legal without an explaination. In this matter the addition paperwork and hours necessary to close a short sale transaction are true additional costs, but I still feel as though your agent should not be trying to place these fees on you after the fact.

  4. #4
    seattle realty is offline Fixer Upper
    Join Date
    Aug 2009
    Location
    Seattle
    Posts
    27

    Default Do not pay invoice

    Unless your agent tells you ahead of time before the charge is made you have a valid argument not to pay. That's part of transparency. However, you should also think about the goodwill of the agent as well if he/she is your friend, family member etc.

    I've seen cases where the realtor relationship has an adverse affect on the friendship. Not a good thing.

  5. #5
    tucsonhomes is offline Condominium
    Join Date
    Jun 2009
    Location
    Tucson, AZ
    Posts
    177

    Default

    Quote Originally Posted by smarie View Post
    I am currently in escrow on a short sale property and have been working with my Realtor since April and things were going well. Last week I received an email from my agent stating that I needed to sign the attached invoice of $400. The invoice was said to cover 'TC fees' and 'extra processing of paperwork' involved in the short sale. There was no previous mention of the additional fee until the invoice appeared in my inbox. I asked multiple times for details on the work performed without an adequate response.

    Am I responsible for the additional fee or should it be covered in my agents commission for the sale? Is my agent trying to take advantage of me as a first-time homebuyer?
    Contact the real estate salesperson's broker. It is entirely possible that the broker does not even know that this is happening.

  6. #6
    seattle realty is offline Fixer Upper
    Join Date
    Aug 2009
    Location
    Seattle
    Posts
    27

    Default

    Quote Originally Posted by tucsonhomes View Post
    Contact the real estate salesperson's broker. It is entirely possible that the broker does not even know that this is happening.
    yes, often times contacting their broker will get more done because the broker is actually the person help liable for agents' work (assuming it's not fraud). the broker is the one that legally has the relationship with the client (at least in the state of washington).

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