Allowable costs at closing
I'm the developer, and the seller of land wants to add $50,000 of engineers fees she's incurred in to the payments made at closing. The purchase is financed. I m comfortable with what that will do to the overall price. And no, she will not simply add it to the acquisition price. Does anybody have experience of what the lender will think about these costs (which are valid and needed) being added into the closing. (i.e. she is paying for work done, at closing, with the closing funds)
I would think this would go in a final settlement statement. There is the aqc price then you hash out credits and debits on both sides until a final price for the wire is made.
Do you need a bigger loan?
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