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Rate Lock Extension Fees Who Pays It


Unless the contract of sale specifically provides for reimbursement of rate lock extension fees to the buyer (which is usually not the case), or provides for a time is of the essence closing, the seller is not under any contractual obligation to reimburse the buyer for fees incurred in extending the lock in period for the mortgage rate. If the extent of the seller delay persists beyond 30 days from the date stated in the contract however, the buyer’s leverage to insist on reimbursement increases. The Law Office of William J. Reinhardt, Jr. is available to assist buyers and sellers on real estate transactions. For a free consultation, call 718-377-8880 or send an e-mail to [email protected]

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  • "My name is Emilio. When I was buying my property, I hired Mr William J Reinhardt Jr as my Real Estate Attorney, it was one of the best decision I ever made because he did everything in his power to make sure my purchase was successful. For example, The utilities bills left over by the person who owned the property before me. I said thank you to Bill for not allow me to pay these costly bills." - 5.0 stars | Posted by Emilio Bien Aime | October 1, 2019

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