juliejhollyo Blog

Real Estate Recovery Fund Fee

Real Estate Recovery Fund Fee -the rf is funded by a fee of $3.50 added to the license fee of new broker license applications and renewal of broker’s licenses, as well as a fee of $1.50 added to the license fee of new sales associate license applications and renewal of sales associate licenses.state law limits a single recovery fund claim to $20,000 , and also limits the total amount of claims per transaction to $50,000.the fee is $3.50 per year for brokers and $1.50 per year for sales associates.the real estate recovery fund is a fund established by the real estate licensing and registration act to provide reimbursement to persons who are victims of fraud, misrepresentation, or deceit.