Does your current home have a resale fee or perhaps a property you are considering purchasing?
Don’t get caught unaware. Is some of your equity going to float away? Do you have to pay a 1% transfer fee when you resell your home? Do you have a "private transfer fee" that will be passed on and on for almost 100 years? That is 1% of the sales price that will not be in your pocket, your buyer’s pocket, their buyer’s pocket……and so on and so on…
Keneth Harney addresses the resale fee issue in the LA Times & San Diego Union Tribune "Unusual coalition is fighting resale fee". FHA, Fannie and Freddie may be stepping up to the plate to bat for property owners.
This is where a real estate professional can be of guidance when considering selling or purchasing a home.