In my purchase agreement, what does... - Posted by Debra(SC)

Posted by Debra(SC) on January 26, 2000 at 08:03:13:

nt

In my purchase agreement, what does… - Posted by Debra(SC)

Posted by Debra(SC) on January 25, 2000 at 19:07:00:

this mean under CLOSING COSTS & PRO-RATION: Seller and Purchaser shall each pay one-half of escrow fee? Is this escrow fee the same as closing costs, including points, etc? Can I change this so that either I or the seller will pay all?

Thanks in advance.
Debra

Re: In my purchase agreement, what does… - Posted by Dave T

Posted by Dave T on January 26, 2000 at 10:23:29:

What did you learn about that “Seller and Purchaser shall each pay one-half of escrow fee” clause in your contract?

What is an escrow fee, who charges it, and how much is it?

I live in Georgetown County and I have not seen this clause in either our contract form or in the Horry County form. Maybe I’ve just overlooked it, but it never seemed to be an issue for me before.

Re: In my purchase agreement, what does… - Posted by Ray S(FL)

Posted by Ray S(FL) on January 25, 2000 at 20:16:50:

Debra,

Everything is negotiable. At least when I writting a contract on a property. Unless, I am the seller.

Good Luck to you!
Ray S(FL)

O.K., but what does an investor/purchaser usually put there? nt - Posted by Debra(SC)

Posted by Debra(SC) on January 25, 2000 at 21:49:11:

nt

Cross it out - Posted by Ray S(FL)

Posted by Ray S(FL) on January 25, 2000 at 22:08:16:

Debra,

Cross out the part you don’t want and write it in or create an addendum that states “escrow fees to be paid by Buyer/seller.” Which ever one you are not. Make sure they initial any thing you do cross out or have them sign the addendum if that is the way you go?

good luck to you.
Ray S(FL)