Gradthrawn
Veteran
Let the buyer beware - there is no excuse for ignorance or stupidity. In the link above the buyers said they had no clue about the fee. So the question is. Did they read it before they signed? Did they understand what they signed? Or....is this so new that the people who went over the loan docs just skimmed over it and missed it - or didn't cover it. Who knows.
That's touched upon in the article:
In the Dupaix contract, the clause was in a separate 13-page document — called the declaration of covenants, conditions and restrictions — that wasn’t even included in the closing papers and did not require a signature.