Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:
Real
Estate News
New CFA Analysis of Real Estate Cartel Explains How It Can Set Prices
WASHINGTON - June 19 - This morning, the Consumer Federation of America (CFA) released a report showing how many traditional real estate brokers, and their associations, successfully stifle competition, what reforms are needed to protect home buyers and sellers, and how these consumers can protect themselves. “Many traditional real estate brokerage firms, and their organizations, function as a cartel that tries to set prices and restrict service options,” said Stephen Brobeck, CFA’s Executive Director. “But consumers can take steps to lower 6-7% commissions without jeopardizing the sale or purchase of a home,” he added.
According to the report, the desire of traditional brokers to maintain 6-7% commissions and the opportunity for a “double-dip” – one broker collecting the entire commission – lies behind almost all of their anti-competitive actions. In nearly all areas of the country, traditional brokers have tried to charge commissions of either 6% or 7%, although many sellers of higherpriced homes have been able to negotiate reductions of one percentage point or even more.
“The preoccupation of many traditional brokers with maintaining their compensation largely explains not only their opposition to discount and fee-only brokers but also their defense of seller-paid commissions, advocacy of anti-rebate and minimum service laws, and efforts to maintain control of multiple listing services,” said Brobeck. The report is based on information from dozens of real estate professionals and from hundreds of articles in journals, real estate publications, and the general press.
A Rehabilitation mortgage is a mortgage that covers the costs of repairing or improving
Rehabilitation mortgage is a mortgage that covers the costs of rehabilitating (repairing or Improving) a property; some rehabilitation mortgages - like the FHA's 203(k) - allow a borrower to roll the costs of rehabilitation and home purchase into one mortgage loan.
Newsroom
News about real estate cases in Indiana and nationwide:
Definition:
A range of different forums and processes which can be utilized to resolve a dispute. We focus on two forms of ADR in this guide which might be used to negotiate a settlement: administrative settlements and mediation.
Federally Assisted Projects
Definition:
A federally assisted project is one which receives Federal reimbursement or payment of some project expenses such as planning, construction, right-of-way acquisition, and property management.
Fixed-rate mortgage
Definition:
A mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
If you live in the following cities and need an real estate attorney you should contact
our Real Estate Attorney as soon as possible:
Bloomington
Brownsburg
Carmel
Columbus
Connersville
Crawfordsville
Crown Point
East Chicago
Elkhart
Evansville
Fishers
Fort Wayne
Franklin
Goshen
Granger
Greenfield
Greenwood
Hobart
Huntington
Indianapolis
Jeffersonville
Kokomo
La Porte
Lafayette
Logansport
Marion
Martinsville
Merrillville
Michigan City
Mishawaka
Muncie
New Albany
New Castle
Newburgh
Noblesville
Peru
Plainfield
Portage
Richmond
Seymour
Shelbyville
South Bend
Terre Haute
Valparaiso
Vincennes
West Lafayette
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Real Estate Lawyer Indiana.com is not intended to be real estate advice, but merely conveys
general information related to real estate issues commonly encountered.
Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep
Did You Know?