Thread: Realty Transaction Fee

Yes, all real estate commissions and fees that you are to be charged are supposed to be disclosed! I would call your agent and discuss it with them.

It is a pretty common occurrence, but it really should have been disclosed to you. You might be able to get it taken off by just asking.

Of course, they have to be transparent to you no matter what. Your Realtor should have mentioned it to you. so you could've decided if you want it or not.

It is very common for a fee to be involved in the transaction from the realty company. It would not have been on the initial good faith estimate due to that usually being only the mortgage fees and the such. The agent should have disclosed this to you prior to you finding out on paper.

Yes it should have been disclosed but it is normal fee that every buyer has to pay, however, it is also negotiable.

Originally Posted by sharkbl

I am purchasing a home through a realtor, and getting financing through the realtor recommended mortgage broker which he works with closely. On the initial good faith estimate, there was no mention of a "realty transaction fee", and it was not disclosed to me at any time. A week has passed, and the title company fees were adjusted and I received a new good faith estimate, however, it now reflects a realty transaction fee of $295. Now that amount may seem small, but on principal, I feel like this is a bit sneaky.

Now my question is, do I have a valid reason to complain?

If the fee is being charged by the mortgage broker than it is in violation of the truth and lending act. All you have to do is mention that it was not on your good faith estimate and that it is in violation of the truth and lending act. Then you can watch as it disappears. Now if it is a fee charged by the real estate brokerage this is only allowed if you signed a contract agreeing to it. If you did not then they have no right to charge this fee to you and all you have to do is tell title and your agent that you have not agreed to the fee and that you will not pay the fee. It doesnt matter what peoples opinions are on this subject just what the law states. So, go back and check anything you signed.

Thats something you should talk with your agent about. Whether that was a legit charge it needs to be upfront for sure. And its not cheap it all adds up quickly.

there are always lots of little fees in every deal, but if they are not disclosed to you then you have every right to try and dispute them. most likely either the realtor or mortgage broker (whoever is charging it) will be able to get it waived if you ask politely but firmly.

I agree with Frantional-homes, blogs are very good way to promote yourself.