Virginia License Law
A Virginia broker who charges a transaction fee in addition to their commission must:
AGet VREB approval for each fee
BDisclose the fee to all parties in the transaction✓ Correct
CKeep the fee amount under $500
DCharge the fee only to the buyer
Explanation
Additional fees such as transaction fees must be clearly disclosed to all parties. Undisclosed fees or fees that are not properly disclosed to clients can violate VREB regulations and RESPA.
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