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Updated almost 5 years ago on . Most recent reply

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Bryant T.
  • Investor
  • Los Angeles, CA
12
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20
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First (ever) offer for FL Rental Property - $345 Admin Fee?

Bryant T.
  • Investor
  • Los Angeles, CA
Posted

I was about to sign a contract for my first ever offer on a Florida rental when I read the last line of the offer contract saying "Buyer to pay ____ (brokerage name)___ $345 fee at Close"

When asked, agent said it was for storage/document fees, and very standard across all firms. I've never had to pay an "admin" fee to my agent's brokerage as the buyer. Appraisal, inspections, sure...but this seems odd. Is this a Florida thing? Or ...?

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

It became very common 6-7 years ago....new record retention requirements. And yes it is negotiable....either you pay it or your agent pays. Any sale under $150k or so, I, as an agent, made the client pay it....it’s an individual decision. 

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