Dont get stuck paying $150-200 a day for not closing on time. Heres how to avoid late fees!
It has always been NACA’s policy and its advice/instructions to its members to get a 45 to 60 day period to close built into the Purchase and Sale Agreement. Plus you should insist the “per-diems” be deleted.
These are the responsibility of your real estate agent to negotiate the best deal for you. It is a part of their job, not just to show you homes and write up the paperwork. This is one of the reasons why NACA requires that agents go through certification with NACA.
Just-in-time or late closings are far more commonplace in real estate than most people realize. Think about it: If they didn’t occur, why would they try to put per-diem clauses in their P&S contracts?
Think of all the headache that can come from closing late.You should be thinking happy thoughts being in your new home!
Put your real estate agent to work and don’t let the seller make demands that could possibly scuttle the whole deal for you.