My favorite contingency language is: “The buyer shall not be bound to this contract, and all earnest money shall be returned until the buyer has examined and approved the condition of the premises, the title, and the financial arrangements as of the date of settlement.”

In Texas if they take you to court and you loose they are entitled to 3x the deposit amount in settlement.

Along with your payment of $160.00, you should have the tenant sign a Release of Claim and Waiver of Future Rights for this settlement relating to this injury.

Here, that lawsuit will usually cloud the title and prevent the transfer of property until settlement.

FHA defines the seller's date of acquisition as the date of settlement on the seller's purchase of that property.

Both parties agree that if Assignee fails to perform any of the covenants of this contract, all deposits paid pursuant to this contract by Assignee, shall be retained by the Assignor as consideration for the execution of this contract and as agreed liquidated damages in full settlement of any claims for damages.

Here's your solution: - list your solutions to your problem in bullet format such as quick settlement, no Realtor commissions, etc., etc."

The settlement was scheduled on or before Dec. 29th 2008.

In 99% of all cases it is not a settlement-in-full.

GFEOrigination Fee 3,650discount 602.65appraisal 350processing fee 450tax service 83underwriting fee 650LOL Flood cert 6administrative fee 675per diem interest 1282.5hazard ins 600county prop taxes 2558.1settlement/closing 200title insurance 1,300misc title fee 150endorsements 250 recording fees/deed 125 total 12,931.85I am suspicious of processing fee, administrative fee, misc title fee, settlement/closing, and endorsements... am curious to see what some of you who are versed in mortgages think.