Realtors - Word of caution
A+ processes and negotiates numerous short sales for different Real Estate professionals. Over the past few months we've noticed an increasing number of Realtors adding a processing or administrative fee on the HUD or settlement statement. After much research, the last was from an instructor who lecture covers Code of conduct and Ethicsn his words to me was get an attorney. Realtors may be in violation of either or both state legislation (regarding foreclosure prevention) and RESPA. Check your state's guidelines and consult with your attorney if this is part of your practise.
The word on the street is if this amount is a commission and stipulated in the contract then the fee is acceptable, but at the end of the day double check and consider using a 3rd party processing and negotiating entity.
With warm regards
Heidi Hodes and your A Plus short sale processing and negotiating team
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