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late fess

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cwade40 Guest	Posted: Sat Jun 04, 2011 6:31 pm    Post subject: late fess Like 0 Dislike 0 I am purchasing some land here in Texas. And the seller is charging me $15.00 a day for late fees. Is this unconscionable? can he really charge this much a day by law? [/b][/i] _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Sun Jun 05, 2011 6:40 pm    Post subject: Like 0 Dislike 0 With no experience in Texas law, I have a lot of nerve even contemplating making a response here, but I couldn't resist. What is the reason for charging late fees? Are you dragging your feet in completing the sale? Is there a late fee caveat in the contract you and he signed? Is there a contract at all, for that matter? Unconscionable? I'd say so, yes; but then again, I don't know the facts nor the law itself. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Sun Jun 05, 2011 9:12 pm    Post subject: Like 0 Dislike 0 Hi cwade! Welcome to forums! It will be better if you could contact a Texas based attorney and take his opinion in this matter. He will better guide you whether or not the seller can charge you any late fees. Feel free to ask if you've further queries. Sussane
raymond Community Expert Joined: 03 Jul 2009 Posts: 1189 Location: Irvine, California 27.86 Dollars($)	Posted: Tue Jun 07, 2011 6:12 am    Post subject: Like 0 Dislike 0 >>can he really charge this much a day by law? What does your Purchase Agreement say about that? If it's not written in the Agreement, he can't charge it. If it is written in the Agreement, he can. _________________ Raymond Denton www.RaymondDenton.com

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