Question About Fees
Hi,
I was going to buy a home in which the seller was going to pay all of the closing costs. I was leaving the table with cash. We went through everything and it all came down to me signing.
I decided not to buy it because the market has dropped so much in CA now, I could get more for less.
The mortgage broker emailed me about fees I owe for the appraisal and processor, totalling $845.
If these were going to be paid by the seller, am I responsible for them now?
Thanks
Look at your contract. Typically the seller will pay these fees only if the contract is completed. Sounds like you backed out and would therefore be responsible for these costs.
The appraisal is typically a 3rd party out of pocket cost, so that would need to be paid. As to the other fees, they may be negotiable unless they were paid to third parties (like an appraisal).
appraiser fee is about the only real fee though. the mortgage company can not force you to do business with them no matter what stage your in. although it would only be right for you to pay the processing fees, i HIGHLY doubt they can make you pay any fees for anything but the appraisal.