{"id":13005,"date":"2010-08-16T14:03:57","date_gmt":"2010-08-16T21:03:57","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=13005"},"modified":"2010-08-16T14:03:57","modified_gmt":"2010-08-16T21:03:57","slug":"nar-and-alta-further-attempt-to-stifle-private-enterprise-on-private-transfer-fees","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13005\/nar-and-alta-further-attempt-to-stifle-private-enterprise-on-private-transfer-fees\/","title":{"rendered":"NAR and ALTA further attempt to stifle private enterprise on Private Transfer Fees"},"content":{"rendered":"

When the National Association of Realtors and the American Land Title Association claim to be doing something to benefit consumers, those same consumers can expect to be fleeced once again.\u00a0 Currently, they are trying to ban private transfer fees by getting the Federal Housing Finance Agency to amend rules so that almost defunct Fannie Mae and Freddie Mac can no longer back properties that have private transfer fees<\/a> covenants recorded against them.<\/p>\n

I’ve written about private transfer fees on Bloodhound before.<\/a> At the time, I promised to do more work with them and report back.\u00a0 Since then I have looked at them, and received proposals from Freehold Capital<\/a>, on implementing them on two of my own projects.\u00a0 I haven’t recorded their instruments on my projects even though I do like the concept.\u00a0 As a developer, private transfer fees<\/a> would be great if they could be securitized so the money was available up front to pay for infrastructure costs.\u00a0 My issues with the Freehold proposal is they currently do not have a securities market for the instruments and I believe their cut of the action is too rich for what they are providing.\u00a0 So, I have made a private decision that I do not see enough value in their proposal.<\/p>\n

That does not mean that I think Private Transfer Fees should be banned.\u00a0 It does not mean that a competitor, or Freehold themselves, might not have a proposal in the future I would like to be able to do.\u00a0 The concept, used as I described it, could be fantastic and help create more valuable properties we can all sell!<\/p>\n

Jeremy Yohe, spokesman for the American Land Title Association, claims that “The casual homebuyer would have no clue that these fees are even attached to the property that they’re going to purchase” as his reason that these fees should be banned.\u00a0 He forgets to mention that the members of his association have the job or providing accurate title information for things recorded on the title, like covenants.\u00a0 I just love it when people argue their own incompetence is a reason that something should not be allowed.<\/p>\n

There Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When the National Association of Realtors and the American Land Title Association claim to be doing something to benefit consumers, those same consumers can expect to be fleeced once again.\u00a0 Currently, they are trying to ban private transfer fees by getting the Federal Housing Finance Agency to amend rules so that almost defunct Fannie Mae […]<\/p>\n","protected":false},"author":55,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[7,5],"tags":[],"class_list":{"0":"post-13005","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-enduring-interest","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":11507,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11507\/what%e2%80%99s-wrong-with-private-transfer-fees\/","url_meta":{"origin":13005,"position":0},"title":"What\u2019s wrong with Private Transfer Fees?","author":"Al Lorenz","date":"March 9, 2010","format":false,"excerpt":"Have you heard of Private Transfer Fees?\u00a0 A private transfer fee is a fee that is required to be paid each time a property is sold at closing.\u00a0 The transfer fee is attached to the property as a covenant that can run for a period, often 20 or 100 years.\u2026","rel":"","context":"In "Carnival of Real Estate"","block_context":{"text":"Carnival of Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/carnival-of-real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8579,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8579\/can-a-realtor-truly-be-a-consumer-advocate\/","url_meta":{"origin":13005,"position":1},"title":"Can a REALTOR Truly be a Consumer Advocate?","author":"Thomas Hall","date":"June 1, 2009","format":false,"excerpt":"My query is sincere.\u00a0 But first, I want to make a distinction between a REALTOR and a licensed real estate agent.\u00a0 NAR tells consumers to seek the counsel of REALTOR - in fact, make sure they are working with a REALTOR, leading consumers to believe that a licensed real estate\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8783,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8783\/are-our-customers-entitle-ed-to-better-fees\/","url_meta":{"origin":13005,"position":2},"title":"Are Our Customers EnTitle-ed To Better Fees?","author":"Brian Brady","date":"June 6, 2009","format":false,"excerpt":"Admit it.\u00a0 You've wondered if there was a lot of fat in title policies, didn't you?\u00a0 I mean, how many claims does a title company REALLY get in this \"nobody trusts anyone\" market?\u00a0 We order a title commitment and the title company: performs a detailed search of the property's chain-of-title\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3061,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3061\/the-war-against-the-mls-continues-the-mls-must-fall\/","url_meta":{"origin":13005,"position":3},"title":"The War Against The MLS Continues | The MLS Must Fall!","author":"Barry Cunningham","date":"May 6, 2008","format":false,"excerpt":"\u00a0 As the real estate industry awaits the long anticipated trial pitting the Department of Justice vs. The National Association of Realtors, another Multiple Listing Service has been targeted by the DOJ. On May 2, 2008, the DOJ filed suit against the Consolidated Multiple Listing Service (CMLS) of Columbia, South\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"Department of Justice Sues the MLS | CMLS","src":"https:\/\/i0.wp.com\/www.realestateradiousa.com\/blog\/wp-content\/uploads\/2008\/05\/crosshairs.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2120,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2120\/sell-your-home-get-you-a-loan-do-your-taxes\/","url_meta":{"origin":13005,"position":4},"title":"Sell Your Home? Get You a Loan? Do Your Taxes?","author":"Russell Shaw","date":"October 29, 2007","format":false,"excerpt":"I have no idea if published Letters to the Editor are covered by copyright protection - if they are I will need to stop doing this. If someone were to suggest that there was a pattern to the types of letters Inman News chooses to publish (say, for example, that\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"Mars Attacks","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/10\/Mars%20Attacks.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":541,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/541\/why-the-traditional-real-estate-commission-model-is-broken-and-needs-to-be-replaced\/","url_meta":{"origin":13005,"position":5},"title":"Why the traditional real estate commission model is broken and needs to be replaced . . .","author":"Greg Swann","date":"October 15, 2006","format":false,"excerpt":"These are the concluding paragraphs of Mark Nadel's white paper on real estate commissions. 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