AFFILIATED BUSINESS ARRANGEMENT DISCLOSURE
This is to give you notice that Flyhomes, Inc. (“Flyhomes”) has a business relationship with Flyhomes Brokerage, LLC (“FHB”) Flyhomes Mortgage, LLC (“FHM”), Flyhomes Closing, LLC (“FHC”) and Muir Residential Investments, LLC (“Muir”). Although separate entities with different leadership structures, FHB, FHM, FHC and Muir are all wholly owned by Flyhomes. Because of these relationships, the referral of a customer (including you) by any of the Affiliated Companies to another may provide the referring company, its affiliates, and/or its employees with a financial or other benefit.
Set forth below is the estimated charge or range of charges for each of the services listed. You are NOT required to use any of these service providers as a condition of the sale of the subject property or to obtain access to any settlement service. These services may not be available in all markets.
THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.
|Service Provider||Service Provided||Charge or Range of Charges|
|Flyhomes Mortgage, LLC ||Loan Origination || 0% to 1.9% of the loan amount |
|Flyhomes Brokerage, LLC ||Real Estate Listing Services || 0% to 6% of the sale price of the listed property, paid by the seller from escrow funds upon close of transaction. Typically half of the listing commission will be paid to the buyer’s agent. |
|Muir Residential Investments, LLC ||Purchases Failed Guaranteed, BBYS and Seller Certainty properties. || Muir Residential may charge the following fees, depending on the product:|
- Flyhomes Guarantee for Buyers: Any deposit made by buyer in the event that Muir is required to purchase the home under the Guarantee.
|Flyhomes Closing, LLC||Title Insurance|
Flyhomes Closing, LLC charges a title Insurance premium for the issuance of Owner's Policy of Title Insurance and Lenders Policy of Title Insurance. The premium rate is based on the type of coverage purchased and the total amount of liability. Title Insurance premiums are taxed at a rate of 10.4%.
Charge or Range of Charges
$443 to $11,095 or more based on the type of policy purchased and the liability amount
Flyhomes Closing, LLC charges an Escrow Settlement Fee that is based on the type of transaction. Escrow Settlement Fees are taxed at a rate of 10.4%.
Charge or Range of Charges
$450 to $2,000
This is an affiliated business arrangement disclosure statement. Actual services and charges may vary according to the particular circumstances underlying the transaction, including the home value, coverage and limits chosen, whether you are the purchaser or seller, as well as other requested terms, unusual market conditions, government regulations, property location and similar factors. The loan discount fee/points are affected by the interest rate on your loan and may be higher if your interest rate is below market. This disclosure statement does not account for fees paid or payable to third party service providers.