Hey guys. I wanted to understand how Builders Per Diem amounts work. I am currently in escrow with Richmond American, and as part of their sales contract they have a Per Diem amount of $480 per day payable by the buyer if escrow is delayed. Unfortunately for me my escrow was scheduled to close on 6/30/2016, and I still have not received a Clear to Close from my lender.
I am hopeful that everything gets resolved today and we get the Closing docs, but I want to see if anyone has had a similar experience in the past. Are these Per Diem amounts enforced, and if so, is there anyway to have them waived. Thanks in advance for the help.
I am hopeful that everything gets resolved today and we get the Closing docs, but I want to see if anyone has had a similar experience in the past. Are these Per Diem amounts enforced, and if so, is there anyway to have them waived. Thanks in advance for the help.