Advance Fee: A fee paid before any services are rendered. Specifically, it is a practice of some brokers to obtain a nonrefundable fee from the seller in advance to cover the advertising of properties or businesses for sale while giving no guarantee that a buyer will be found, which is often held to be improper conduct. Brokers must keep accurate records of expenditures.

 

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Advance Fee: A fee paid before any services are rendered. Specifically, it is a practice of some brokers to obtain a nonrefundable fee from the seller in advance to cover the advertising of properties or . . . View Full Definition

Advance Fee Addendum: An agreement specifying services for which an agent or broker will be compensated including a provision for payment of an advance fee.

Mortgage Origination Fee: A charge for work involved in preparing and servicing a mortgage application (usually one percent of the loan amount).

Mucous-Bag Suspension Feeder: Suspension feeder employing a sheet or bag of mucus to trap particles nonselectively