Min Price
Max Price

Purchasers Be Aware

In my 45 years in real estate I have reviewed thousands of purchase agreements.  Real estate purchase agreements cover a multitude of subject matter pertaining to the property to purchase as it relates to the purchaser or seller. A Realtor’s standard purchase agreement is well crafted.

Over the past several years the following statements have been appearing within some purchase agreements; PURCHASER TO PAY PROCESSING FEE or PURCHASER TO PAY DOC. PREP FEE.  These fees range $100-$400 payable to the real estate office preparing the purchase agreement.

After reviewing Michigan real estate licensing law and the Realtors Rules and Regulations, I have found the above charges are not in violation of any laws. However, morally I cannot condone any purchaser payment of these fees.

Typically, the seller pays the real estate commission to the real estate agents who list and sell their homes.  Why must a purchaser pay a fee to purchase the real estate?

I do not want the public to think these fees are standard practice.  Those who charge them can do so; we at Zanglin & Associates do not, and will not, charge fee to a purchaser.

James R. Zanglin
Realtor Emeritus
Zanglin & Associates

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu