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Elizabeth  C…, Real Estate Pro in Jackson Heights, NY

I was surprised to see a $2,500.00 fee going back to the sponsor of Harman Street and a $1,100.00 for Document Set-up Fee total: $ 3,600.00.

Asked by Elizabeth Caruso, Jackson Heights, NY Tue Aug 17, 2010

My Buyer made an offer. It was accepted. (The Highest Offer in the Building to date). He was told he had to go with DE Capitol, their Premier Mortgage guy and he did in fact do so. He found out later that there were hidden fees that he did not know about. Actually almost sounds like the Sponsor is giving himself a Kickback. In selling new construction in Manhattan, I never came across this Sponsor Reimbursement for $2500.00 and Document Preparation of $1,100.00. It's a Buyers Market. Sponsor are giving incentives. NOT taking extra money from people buying in good faith. How much can a Buyer do? How much should a Buyer do?

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