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Greater Cleveland and Lorain County Home Buyers and Sellers...BEWARE!! Watch out for HIDDEN JUNK FEES in the Small Print!
   FINALLY...Tom Meyer, a well-respected Investigative Reporter for the local NBC news channel here in the greater Cleveland area, finally brought to light an issue that's been bothering me for years...the so-called "Administrative Fee" hidden in the small print of the real estate contract that many of the large local real estate brokerage firms have been sliding under the radar for years, charging their customers an extra $250 to $500 per transaction side...with most clients not even realizing they were even being charged this fee.  (see Tom Meyer's video report at http://www.wkyc.com/news/investigative/investigative_article.aspx?storyid=130611&catid=230 ).
    As far as I can recall, this fee has always been ambiguous, and no one seems to have been able to explain what this fee is really for, what service it covers.  Apparently, Tom Meyer, in all his investigative efforts wasn't able to uncover any real explanation for the fee, either, other than it's an unlawful HIDDEN Fee, and is supposedly to cover the real estate brokerages' expense to store the contract files, per IRS requirements.  Well, the brokerages have been, for as long as I can remember, required to maintain files for tax purposes, for at least 3 years or more.  But all of a sudden these brokerage firms ... more

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