It may be the local custom, and probably will be called for in most sales transactions/purchase agreements that involve a Realtor (mostly so they know you're serious), but they are not legally required. 

Note: Investor and second home borrowers with five to ten financed properties areineligible for cash-out refinance transactions unless all of the delayed financing exceptionrequirements listed above are met.

(A) A foreign limited liability partnership shall file a statement of foreign qualification with the secretary of state prior to transacting any business in this state.

I mean your talking 1k to 2k per transaction ... that is 1970's money... but I guess if you live in an area with cheap o properties it is what it is.. but I would frankly find another profession..

The way it was explained to me through the attorney was that under 3 transactions of this nature a year does not require a loan originator. 

Hi Chris, Yes, this can be accomplished through a 1031 Exchange transaction.

There is no cost or obligation to you.Under the terms of the transaction, Move shareholders will receive only $21.00 in cash for each share of Move common stock they own.  

Thanks Randy...I use them for most of my transactions anyhow.

it also adds to the cost of the transaction, a portion of which you will have to eat. 

Do you double close using a transactional lender?