15
Pro tip: check your broker's total fees after your first big sale, you might be shocked.
I just sold a rental property in Phoenix and hit a number I never expected to see: $14,750 in total fees. My broker's commission was one thing, but the admin fees, processing charges, and a weird 'regulatory compliance fee' they never mentioned upfront added up fast. I felt sick looking at the closing statement. I trusted them because their rate seemed fair, but they nickel and dimed me on the back end. It completely ate into my profit from the sale. Now I'm going over every line with a fine-tooth comb before I sign anything new. Has anyone else had a broker spring surprise fees on them after a deal closed?
3 comments
Log in to join the discussion
Log In3 Comments
troy_gibson431mo agoMost Upvoted
Wow, that is absolutely insane! Fourteen grand in hidden fees would make me furious. What did your broker say when you asked about that "regulatory compliance fee"? Did they try to justify it or just shrug it off?
8
troy9771mo ago
Man, that's brutal. I had a similar thing happen on a commercial lot sale last year. The title company slipped in a "document preparation fee" and an "e-recording surcharge" that weren't on the initial estimate. Now I make them give me a full fee worksheet, not just an estimate, before we even list. I go line by line and make them explain what each one is for. If they can't or won't, it's a huge red flag.
1