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Written by Wikipedia, the free encyclopedia
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Closing (or settlement as it known in some parts of the US) is the final step in executing a real estate transaction. The closing date is set during the negotiation phase, and is usually several weeks after the offer is formally accepted. On the closing date, the parties consummate the purchase contract, and ownership of the property is transferred to the buyer. In most jurisdictions ownership is officially transferred when the contract is registered at the cadastre, or, in most US states, at the office of the County Recorder of the county in which the property is located. |
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RESPA stands for the Real Estate Settlement Services Procedures Act. RESPA is about closing costs and settlement procedures. RESPA requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. RESPA is a HUD consumer protection statute designed to help homebuyers be better shoppers in the home buying process, and is enforced by HUD. |
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Written by Brokerless, Inc.
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The flat fee that you pay replaces the much higher listing fee, usually 2.5% to 3.5% of the sales price, that you otherwise would pay if you were using a full service Listing Broker in your local area. As a result, you will not pay us additional fees that are typically based on the contract selling price. |
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Consumers Save Thousands! |
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Thanks to the Realtors MLS, Discount Real Estate Brokerage Has Revolutionized The Way Consumers Buy And Sell Real Estate! A recent US Department of Justice study found that “Consumers Can Save Thousands of Dollars in Commissions” by using a flat fee mls service when selling their home. |
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Paying a flat fee for an MLS listing means more equity in your pocket! All the advantages associated with an MLS listing will be available to you at a fraction of the cost. As a result, there will be no additional listing fees owed specifically to Brokerless. Typically, those fees run from 2.5% to 3.5% of the selling price, and are normally paid to the Listing Broker at closing.