News

FEE CONSOLIDATION & DOCUMENT CHANGES

October 15, 2007

Due to the complexity of calculating multiple fees in a transaction, effective immediately, the fee for our services will be 12.5% of the Amount Funded, or $1,250 whichever is greater. The consolidation of multiple fees will simplify the calculations and make the process more straightforward.

If you require 10% or less of the sales price of the home for your Buyer, the fee will be less than it would have been before the change. If you need more than 10% for your Buyer, the fee will be about the same, and in some cases slightly higher than before the change.

Transactions where we are providing funds in excess of $50,000, will still require a 1%, non-refundable deposit that will be returned to the Buyer following a successful transaction.

You will like the changes in our application process. The application is shorter and much easier to complete. You will have the ability to view/edit each of your transactions online and see which documents are missing, or make changes to the application. You will continue to access our web site by going to www.nonconforminggrants.com. Please, call me with any questions, special requests, or concerns. The application for your commercial buyers is the same as it is with residential purchases.

You will notice the contract wording no longer uses the word Grant. The new contracts call the funds "Private Contributions." Both methods accomplish the same results for your Buyer.