Northwood Realty Fee (Baldwin, Dormont, Howard: loan, home, buying)

[thebiglebowski]

Hey everybody,

I'll be coming up to PGH Wednesday from NC to look at buying a starter home (school move) and I have been working with a Northwood Realtor. The Realtor is great, but I discovered in looking at Good Faith Estimates that Northwood charges buyers a $275 ABC fee to cover their "storage/imaging" costs of the closing docs. I know it is JUNK, but was wondering if it is standard up there to charge buyers anything, or if only the big boys like Howard Hanna, Northwood, Coldwell Banker, etc charge it.

I've requested a waiver from the office manager but have not heard anything....I'm thinking that if they play hardball with me then I will walk, but I will need to find another buyer's agent ASAP who won't stiff me. Anybody have any suggestions on a smaller firm that has good buyer agency, or a good buyer's agent for my area??? If so, please PM me......! I need a backup!

I will most likely buy in the Brookline/Dormont/Beechview/Baldwin areas, sub-$100k.

This really sucks: the Realtor is a very nice agent who has put in a fair amount of work for me already, though I have signed no agency papers.

[dana_in_'sylvania]

When I went over costs with my realtor (Keller Williams), I recall there being a fee for document storage. I can't recall the exact dollar figure though. I think it is a standard fee, across the board.

That said, Keller Williams ended up being so unprofessional and shady that I no longer wish to buy a home. I would NEVER recommend them to anyone.

[jfer]

I think a fee of this type is common. I am working with Coldwell banker and theirs is higher. I also worked with Remax and they had a fee as well. I don't know if it was for document imaging but it was still a fee so I would think you will have it with anyone.

[Kippy]

Prudential Preferred charges a $150 "coordination" fee to both buyers and sellers, "to cover the cost of coordination and retention of documents pertinent to their transaction."

[Bazzwell]

Originally Posted by thebiglebowski

I know it is JUNK
I've requested a waiver from the office manager but have not heard anything....I'm thinking that if they play hardball with me then I will walk....

No, it isn't junk. It is a legitimate fee that covers not just document storage but many aspects of the deal overall. I'll explain no further as I am also Northwood and won't step on a fellow agent's toes. They should be prepared to explain it to your satisfaction. They should also be able to gently explain that a fee of this type is pretty much standard, some agencies are higher, some lower, and not something we can negotiate off.

[Ireanna]

Just wanted to say I was surprised by the fee as well working with a Northwood Agent. Strangest thing is that although it was on the good faith estimate for the conventional loan we originally planned.... it disappeared when we later decided on a VA loan... I'm sure they made up for it elsewhere... but if it is legit I don't know why it disappeared when we went VA instead of conventional.