Who is responsible for the HOA document fee if transaction didnot go through
Who is responsible for the HOA document fee if transaction didnot go through# Living
f*7
1 楼
这个我们平时的保险cover么?多谢
p*0
2 楼
Recently, a transaction didnot go through because of the HOA is not incororated (Fannie Mae regulation). So contract get cancelled because of financing contigency. Contract specify Seller to pay for the HOA doc prepartion fee, however escrow officer deduct the money from earnest money BUYER put in and use the small print to ask buyer to cover the cost, is it resonale? ADVANCE FEES: Buyer and Seller are aware that Escrow Holder may incur certain expenses during the course of processing this escrow which must be paid in advance, including but not limited to: demand request fees, courier fees, overnight mail service, transaction coordinator fees, charges for City building reports, and Homeowner Association demand and document fees, where applicable. In the event any such advance fee is required during the course of processing this escrow, Escrow Holder is authorized and instructed to issue payment for such fees from the funds deposited by Buyer, and said fees shall be charged to the appropriate party at the close of escrow. All parties are aware that funds so released are NON-REFUNDABLE in the event of cancellation.