Builder Clause - May Cost You Money!
- By Bill Gemmill
- Published 08/25/2010
A new clause in some builder contracts require the builder get paid 1 percent every time the home is resold. This is not something you should agree to however when you go buy your new home. There is legislation pending to make this practice illegal, and both Fannie and Freddie are considering refusing to buy mortgages that have home resale fees.