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Without knowing what state you are in and what the rest of the contract says, we can't advise you on this. Sorry. It's really difficult to pull out one section and interpret it, just like its difficult to pull out one statement in a politicians speech and make a fact from it.
Highlands Ranch, CO
Cocoa Beach, FL
Candice A. Donofrio
Fort Mohave, AZ
What Joan said. If you are an agent, ask your broker. If you are a customer, ask your agent if you have one and, if no, ask your attorney. If you are a RE student, ask your instructor.
Real estate law, including contracts, vary widely from state to state so we cannot help. Even if you were in the state we practice in much more information would be needed.
Sharon Altier, SFR
Without the rest of the Contract to read, one wouldn't know.
Our AZ RPC says very clearly that escrow fees are equally divided between Buyer/Seller, Seller provides title policy and Buyer pays Buyer's loan costs except as provided elsewhere and makes provisions for VA financing.
I would have an attorney look over that verbiage and if you are representing the buyer - make sure it is clear who pays for what.
PS. If you reply to any of these answers, you won't be anonymous any more. ;)
Highlands Ranch, CO
Talk to your broker, or an attny.
You got it.
Great answers here. I hope you got it.
There's obviously more to this story...
If you are a party to the contract, I hope you know what you signed.
AH..."let think about that and get back to you" signed, anonymous
I do not render legal opinions.
This sounds like standard REO language from their contract. Buyer pays all their own charges for loan related, title & survey. That's standard here in IL with foreclosures.
This is very good question.
Are you an agent or a buyer or a seller? If you're a buyer, you should talk to your attorney and buyer's agent before you sign. If you're a seller, you should talk to your listing agent or attorney before you sign. If you're an agent, you should talk to your broker about your questions. If you're a broker, sigh.
This is not any kind of legal advice, but I don't see commissions listed in that paragraph, so I'm sure the seller will have to pay something!
You should seek legal counsel from a licensed attorney who is knowledgeable about the type of contract you have and the jurisdiction to which it relates.
It depends on your local and state laws.
Depends on what else the contract says, and the state. I would have a chat with your broker for advice. It's not really appropriate for us to advise in this case
Speak to your Broker.
Ditto to Joan Dickie's comment!!
Joan Dickie has a good answer for you.