New Arizona law prevents homebuyer resale fee
N ew homebuyers in Arizona will be happy to know they won’t be assessed a fee when they resell their homes. Buyers in several other states are already seeing “resale fees” written into their purchase contracts.
To raise cash in this tough housing market, some developers and property firms have been including resale fees in sales agreements. Also known as private transfer or recovery fees, the contract clause require new home buyers to pay the developer or builder a certain percentage of what they resell the home for later on.
The typical resale fee is 1 percent. So if a formerly new home …
