Articles on Real Estate Agents

The Secret's Out: What NYC Condo Buyers Need to Know About Secret Fees

Hidden fees for New York City apartmentsBuying a condominium in Manhattan involves one large fee and seemingly dozens of smaller ones. The many costs of closing on a NYC condo typically do involve a real estate agent's commission -- it has always been thus, and always will be -- but one less-than-welcome recent innovation to hit the New York real estate scene is currently getting some richly deserved scrutiny. As The Real Deal's Ken Harney reports, the Department of Housing and Urban Development is looking into the widespread and frankly dodgy practice of additional, ill-defined "admin" fees tacked on top of the commission on a condominium purchase.