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A groundbreaking $418 million settlement announced Friday by the powerful National Association of Realtors is set to usher in the most sweeping reforms the American real estate market has seen in ...
In the United States, most homes [1] are bought and sold using real estate agents affiliated with the National Association of Realtors (NAR), an industry lobbying group with over 1.5 million individual members. [2] NAR permits only its members to call themselves Realtors.
The settlement, which is still subject to a judge’s approval, will eliminate the long-standing standard 6% commission paid by the seller. Those fees, however, are often baked into the listed ...
In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”
The settlement reached by the National Association of Realtors (NAR) over real estate agent commissions could end up hurting an already beleaguered group: homebuyers.. The $418 million deal ...
Insolvency – An insolvent borrower whose mortgage debt has been forgiven may not be obligated to pay taxes on all or part of the cancelled debt. Insolvency will only be considered when the borrower's total debt exceeds the market value of the assets. Bankruptcy – All debts discharged under a certain bankruptcy are regarded as non-taxable ...
The settlement must get court approval, then if approved any changes would go into effect in mid-July, NAR said in a March 19 news release. ... the rule shake-up has been met with some positive ...
The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers' long-standing commissions, commonly of up to 6% of the purchase price.
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