You Should Not Have To Pay Transaction Fees in a Las Vegas Short Sale

PRLog (Press Release) - Sep. 9, 2012 - You DO NOT have to pay anyone to do a short sale.  In a short sale transaction, the Sellers lender pays the Broker fee (Real Estate Commission) since the Seller is experiencing financial hardship, however, there are many well-known Brokers out there charging EXTRA fees to homeowners to maximize their profits despite your bad situation.  These extra fees are typically called "transaction fees" (sometimes referred to as document fees, storage fees, compliance fees, etc.) and usually range between $300 to $700 and more.  While these fees are legal, the fact remains that this type of fee is NOT normally paid for by your lender and comes out of YOUR pocket. Most homeowners needing to short sale their home are experiencing hardship and the LAST thing they need to do is pay extra fees.

Why do Brokers charge transaction fees?  According to NRS, Real Estate Brokers are required by law to save the paperwork from each transaction for several years (the length of time required for each state is different.)  Brokers charge these fees to offset the expense for storing these documents, however, most Brokerages are now “paperless” which means they have the ability to scan paperwork and store it electronically.  Additionally, Buyers and Sellers are charged equal fees for the same transaction, which means that Brokers are actually earning an additional $600.00 to $1400.00 per deal on top of the real estate commission.  Does it really cost this much money to store a file consisting of 100-200 pages?  Even the most expensive external hard drive costs less than this, and can store thousands of files.

Some Brokers claim that the fee is charged to offset the cost of providing their agents with the necessary forms for each transaction and printing expenses, however, this is not an accurate representation of the truth.  Most real estate forms are available online and most Brokerages require their agents to download the forms and print them for each respective deal.  Since a typical real estate transaction consists of less than 200 pages, the transaction fees being charged by Brokers seems excessive considering a ream of standard white printer paper costs less than $5.00 and black and white copies average less than ten cents per page.

The Myers Team will NOT charge you junk fees to short sale your home.  The only thing you pay for is the moving truck.  When interviewing Realtors to short sale your home, ask them how much their Broker charges for transaction fees and what the fees are for.  Homeowners facing foreclosure need serious help and professional representation, not extra fees.

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada. Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.  While The Myers Team with The Caliber Realty Group are nationally recognized as one of the most influential figures in real estate today.   The Myers Team has sold more short sale listings than any Realtor or Broker in Las Vegas.  Myers Team Owners, Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to take away the stress and negotiate the best possible outcome.  Ultimately, our job is to help our clients get a fresh start.”

Visit The Myers Team web site at http://www.nevadashortsaleinfo.com/-----home.asp

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