MJ Smook 3 Report post Posted March 7, 2015 The short offer letter refers to 2 ALLOWABLE costs. Maintenance and Repairs: your tenant/buyer is responsible for all ALLOWABLE maintenance and repair costs during the term of this Agreement. Closing Costs: Purchaser will pay all ALLOWABLE closing costs.Can anyone please tell me if these are LEGAL allowables and if so what are they? Thanks for your support Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 7, 2015 The reason I use allowable is because what a tenant/buyer can and cannot be responsible for regarding maintenance and closing costs will vary from locale to locale. So this provides some wiggle room. For example, let's say a t/b decides to exercise their option and is going with a VA loan. Regardless of what our agreement might say, the VA will require the seller to pay certain closing costs. Therefore, the t/b will pay all allowable closing costs. Share this post Link to post Share on other sites
MJ Smook 3 Report post Posted March 8, 2015 Got it! Thank Michael. Share this post Link to post Share on other sites