The San Antonio Express reports that Developers now putting “transfer fees” into deed restrictions on property they develop. Basically, they’re imposing a fee (typically 1% of sales price) that is automatically paid to them every single time the property is sold. It’s like a perpetual money machine.
States are looking into ways to ban this practice but, like most things the government does, it’s slow and probably won’t work when they’re done with it.
Developers aim to attach transfer fee to homes