PRACTICE TIPS – Paragraph 9(c) of As Is Contract
What option do I select in paragraph 9(c) of the As Is contract? I’ve been getting asked this question a lot lately. The heading of paragraph 9 is Closing Costs, Fees and Charges and you must choose one off three options 9(c)(i), 9(c)(ii) or 9(c)(iii).
For the most part, the decision of which option to pick is based on whether you represent the Buyer or the Seller. If you represent the Seller you want to select 9(c)(ii). This option makes the Buyer responsible for paying for the title policy, lien search and title search. If you represent the Buyer you want to select 9(c)(iii). This option makes the Seller responsible for paying for the title search and lien search therefore saving your Buyer between $295 to $600.
If you have any questions regarding this or any other concern please feel free to contact me.