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Released: March 20, 2010

HUD clarifies rules on realty add-on fees

Source: Kenneth R. Harney, Washington Post (Free Registration)

Does it matter whether a real estate agent charges you a flat commission rate - say 6 percent - or quotes you a flat rate but adds hundreds of dollars labeled an “admin” or administrative fee?

A top federal housing official says it might matter a lot, especially when minimal or no separate services are performed to justify charges beyond the regular commission.

Read Full Article: HUD clarifies rules on realty add-on fees