Hi. My name is ***** *****. I have a question regarding the Loan Cost Provision language .... in the below context, does the "buyer's loan" and "financing" implies that it could be applied to the loan itself or does it limit to closing costs
only? Loan Cost Provision: Seller shall pay up to $10,000.00 which shall be applied to Buyer's Loan(s) and settlement costs, including prepaids, loan discount, loan fee, interest buy down, financing, closing or other costs allowed by lender.
JA: Thanks. Can you give me any more details about your issue?
Customer: It isn't much of an issue but an understanding question. Is the Loan Cost Provision applies only on costs associated with a loan or can it apply on the loan itself. Example .. If the closing costs are 5K but the loan provision is 10K, there's a 5K that isn't used. Does that amount applies to the loan per the language of the Loan Cost Provision or is it a lost amount ?
JA: OK got it. Last thing — Real Estate
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