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On March 15, 2024, the National Association of Realtors announced that it would settle the lawsuit rather than appeal. The group agreed to change how commissions are paid and to pay back $418 million over four years. [16] The judge presiding over the case granted preliminary approval to the settlement on April 23, 2024. [17]
A quitclaim deed may also be used to transfer title of a property to a purchaser following a foreclosure auction. Typically such a deed will not warrant that the property title is free and clear, and it remains up to the grantee to check that the property is not subject to any legal encumbrances. [11]
The plaintiffs’ main beef: An NAR rule that requires sellers to agree to pay a commission to both the buyer’s and seller’s agents before their home can be listed on a database called the ...
If you were affected, you can file a claim at this site with your computer’s serial number and proof of repairs. Synchrony Bank Total settlement: $2.6 million.
Add the new NAR rules to such underlying problems as lower household incomes, higher student loan debt and higher rates of mortgage denials — and the situation only gets worse for Black Americans.
The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
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