Annapolis Md Homes and More: Its All In The Wording For Loan Approval

Its All In The Wording For Loan Approval

Today I received word that a Buyer I am working with is Clear to Close. Yay!!! Just a few minor conditions and we are good to go. One of those conditions is an addendum written to give the Buyer a Seller Credit.

signing a documentThe credit itself was approved but using the word 'credit' was not. A new addendum needs to be written and signed by all parties stating instead that the Seller is paying $xxx of the Buyers Closing Cost. Seems It's all in the wording for loan approval.

I had to smile when I read that as it seemed like such an odd request. I guess it must help to clarify that the Seller is paying and not crediting. For whatever the reason it is a small request that I surely can handle. 

From now on my addendums where closing cost is paid will be written to say Seller paying $xxx of the Buyers Closing Cost from the get go.

Its all in the wording for loan approval

 

 

 

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About the Author Martha Brown- As a third generation Annapolitan I love to write about my experiences in and out of the real estate market. Licensed since 1992 all with Long & Foster I am a Certified Residential Specialist (CRS) and a Seller Representation Specialist (SRS) whose passion is homes in the Annapolis MD area and surrounding communities. My goal is to help my clients understand the real estate market and to then make sound real estate decisions. 

 

Martha can be reached  at 410-260-2800 ofc or 

martha@homesaroundannapolis.com.

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www.HomesAroundAnnapolis.com

 

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Comment balloon 3 commentsMartha Brown • June 30 2014 07:40PM

Comments

Congratulations.  What a easy thing to change.  If only they were all that easy!

Posted by Diana White-Pettis, GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale (Bennett Realty Solutions) over 4 years ago

Good morning Martha. I guess the wording does matter and you were on it. Congratulations.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 4 years ago

Isn't that the truth Diana

Thanks Sheila

Posted by Martha Brown, Your Homes Around Annapolis Agent (Long & Foster Real Estate, Inc., Annapolis MD 21403) over 4 years ago

Participate