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Rhonda Burnett, the lead plaintiff, testified about her experience with a real estate agent from HomeServices of America subsidiary ReeceNichols. According to Burnett, the agent gave her a contract to sign with a commission rate of 6% already filled in, and she was told that the rate was non-negotiable. [12]
A real estate company owned by Warren Buffett’s Berkshire Hathaway has agreed to pay $250 million to settle lawsuits nationwide claiming that longstanding practices by real estate brokerages ...
Changes may soon be on the horizon for real estate commission rates after a Kansas City jury determined – in a $1.8 billion judgement in October – that commissions had been inflated and that ...
Hire a discount agent: A low-commission real estate agent will likely charge much less than a traditional agent would — usually 1 to 1.5 percent of your home’s sale price. (However, you might ...
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .
Also in June 2012, the SEC took emergency action to halt a real estate-based Ponzi scheme that defrauded more than 600 investors nationwide of $100 million. [91] The SEC's action charged Wayne L. Palmer and his firm, National Note of Utah, LC, with fraud in a scheme in which he raised money from investors by promising to use the proceeds to buy ...
How to avoid paying Realtor fees. Selling your home without the help of a real estate agent — called “for sale by owner” or FSBO for short — is certainly possible. Between July 2022 and ...
Uniqueness of the Property: The subject of the contract, especially in real estate transactions, must be unique to such an extent that monetary damages would not be a sufficient remedy. Irreparable Harm: The aggrieved party would suffer irreparable harm if specific performance were not granted, such as in cases where real property’s unique ...