[WSBARP] This is a new one

[Richard Holland]

So I ran across this provision in a RESPA today in a rather 'hidden' spot somewhat buried amount the standard "Law of Agency/TRID" disclosures.

XYZ Real Estate agrees to prepare, process and electronically store the purchase and sale agreement and other forms that are part of the transaction for a minimum of five (5) years from the transaction date, and the document preparation and storage fee for this service shall not exceed $250.00, which shall be collected at escrow

I have never seen this done before as it is "in addition" to the commission.  $250 per side to "electronically store" the documents for 5 years?  Really?


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