Real Estate Commission Fees

For my Realtor partners - Recent update in regard to what HUD has decided to do with regard to Transaction Fees or Closing Fees that Realtors charge - HUD has said going forward if you charge a closing fee on the settlement statement we want to ensure that some work was actually performed. So if you hired a closing coordinator to handle all the details of a closing and you charge for that, that's ok; you can charge that plus your commission; however, they have come out and said, if you charge a commission and closing fee, yet you did all the work yourself, you can't do that, because nothing extra was done to earn that extra money. It could be considered a RESPA violation. For more information, stop by my blog at http://tampabaymortgageloan.com/10/real-estate-commission-fees/

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• HUD
• transaction fees
• closing fees
• Realtor
• settlement statement
• commission
• RESPA violation