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I feel like a class-A moron. Agent offered to pay me from his pocket but I cannot accept that. I was the idiot who interpreted the wording wrongly.
I'd take him up on it, personally. That fee sounds like garbage, to me. Why should YOU pay for the broker to store your docs? What docs are they storing, anyway? The ones that are really, really important are the warranty deed and the mortgage, and the courthouse has those recorded. The rest of it is a contract and supporting paperwork -- and in our state, we can destroy those after three or four years. So just how important are they?
Hm. You may have a point, I never signed anything with the agent re: representation. He and I DID exchange an email wherein he said he would be representing both S and B so dual agent, don't know if that counts as a tacit agreement when I emailed back and said "no prob"?
Quote:
Originally Posted by jackmichigan
I'm not sure about Indiana, but in Michigan there is a specific agency disclosure form which needs to be signed by both the client and the agent. Failure to have that form in the file could create a problem if the state were ever to conduct an audit.
Plus, if he were truly acting as a Dual Agent, he would need the written permission of the Seller to do so (at least in Michigan, likely in Indiana, too). Maybe you should give the Seller a call.
Same here in MA. All clients have to sign an agency disclosure form indicating the type of agency they have selected. If we enter dual agency, there's a separate form that needs to be signed to show consent.
Personally, I would jump over the agent and go straight to the broker to let them know that I'm not willing to pay their bogus fee especially because your office did not represent me. It's a straight cash grab and if I were in your shoes I wouldn't stand for it.
I'd take him up on it, personally. That fee sounds like garbage, to me. Why should YOU pay for the broker to store your docs? What docs are they storing, anyway? The ones that are really, really important are the warranty deed and the mortgage, and the courthouse has those recorded. The rest of it is a contract and supporting paperwork -- and in our state, we can destroy those after three or four years. So just how important are they?
Exactly. It's highly unlikely that they're going to keep your documents for any longer than they are normally required to do so. That's why this is a particularly odorous junk fee. It's totally made-up garbage--it really stinks. Your important documents will be recorded.
NO s**t JM it is odorous as you said and odious as well.
(by the way I really appreciate you fellas expertise *hugs*)
Went back and checked, looks like I signed the "Limited Agency" auth form.
I interpert that version of the 3 types listed (HA we know how accurate my interpretations of RE forms are) to designate him as B and S, dual agent.
Therefore providing representation-albeit with limitations- to us both. Therefore agreeing to pay the fee for my limited representation. Which amounted to replying to maybe...10 emails and no nego. Time from initial email to last one: three days. No showings, no lengthy back and forths. I hate all that and was thrilled to avoid it.
But his commission is going to be almost nothing so I tried to keep things easy as pie.
Still no other suckers have posted. I am in truth the village idiot
#whenmoronsbuycondos
Last edited by VexedAndSolitary; 02-07-2016 at 09:28 AM..
NO s**t JM it is odorous as you said and odious as well.
(by the way I really appreciate you fellas expertise *hugs*)
Went back and checked, looks like I signed the "Limited Agency" auth form.
I interpert that version of the 3 types listed (HA we know how accurate my interpretations of RE forms are) to designate him as B and S, dual agent.
Therefore providing representation-albeit with limitations- to us both. Therefore agreeing to pay the fee for my limited representation. Which amounted to replying to maybe...10 emails and no nego. Time from initial email to last one: three days. No showings, no lengthy back and forths. I hate all that and was thrilled to avoid it.
But his commission is going to be almost nothing so I tried to keep things easy as pie.
Still no other suckers have posted. I am in truth the village idiot
#whenmoronsbuycondos
I have seen video, it's been totally remodeled. The gal in the HOA confirmed it's in fab condition. It was owned by an atty, he had an elderly tenant in there for years -this info from the prop mgr not the agent-when she went into assisted living he redid the place and put it for sale.
Floors are new laminate, new kitchen cupboards, counter, fixtures, appliances (but they are black I hate black am going to donate the fridge) new bathroom. The invoices from the contractor were included with the docs I got.
. . . Still no other suckers have posted. I am in truth the village idiot . . . [excerpt, not full post; boldface added]
There may be other homeowners who have paid fees of this kind to a real estate agency who not only missed it in the contract but may to this day still not realize they paid it. If the total amount buyers are asked to pay at closing roughly agrees with what they expected, some of them may not review the closing statement carefully.
The fee you paid, on the other hand, was much more obvious to you because you bought a very inexpensive home with no mortgage (so not a lot of other/higher costs for this one to "get lost amidst" in the paperwork).
There may be other homeowners who have paid fees of this kind to a real estate agency who not only missed it in the contract but may to this day still not realize they paid it. If the total amount buyers are asked to pay at closing roughly agrees with what they expected, some of them may not review the closing statement carefully.
The fee you paid, on the other hand, was much more obvious to you because you bought a very inexpensive home with no mortgage (so not a lot of other/higher costs for this one to "get lost amidst" in the paperwork).
Good point. Others may exist who are equally moronic as I but even moreso since they didn't read their settlement statement and catch the crap fees.
(trying to make myself feel better)
How nefarious then, to slip such fees in in such a way that an avg Joe may not realize they're in there!
NO s**t JM it is odorous as you said and odious as well.
(by the way I really appreciate you fellas expertise *hugs*)
Went back and checked, looks like I signed the "Limited Agency" auth form.
I interpert that version of the 3 types listed (HA we know how accurate my interpretations of RE forms are) to designate him as B and S, dual agent.
Therefore providing representation-albeit with limitations- to us both. Therefore agreeing to pay the fee for my limited representation. Which amounted to replying to maybe...10 emails and no nego. Time from initial email to last one: three days. No showings, no lengthy back and forths. I hate all that and was thrilled to avoid it.
But his commission is going to be almost nothing so I tried to keep things easy as pie.
Still no other suckers have posted. I am in truth the village idiot
#whenmoronsbuycondos
Honestly OP.....so much more could have gone wrong. Take it easy on yourself and enjoy your new home. Learn from this and move on. You are anything but a village idiot.
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to designate him as B and S, dual agent. 
