Will You Have to Pay 16% Interest to the Vue Charlotte at Closing?

I feel very confident in saying that without question the Vue Charlotte has been very accommodating to pre-sales buyers that have had to delay closing dates for legitimate reasons. But a reader wrote to me the other day and mentioned that the contract, at the end of section 9, specifically states that “if closing is delayed…Purchaser agrees to pay at closing a late funding charge equal to interest, at the rate of 16% interest per annum, on that portion of the purchase price not then paid to Seller…from the date Seller originally scheduled closing to the date of actual closing.”

Is the Vue Charlotte enforcing this provision, or will it? What is the Vue Charlotte telling you when you ask to delay closing? Have you asked whether you will have to pay 16% interest as per the contract? These are all questions I do not know the answers to and hope our readers may be able to provide some insight on.

Please reply in a comment or write to Vuebuyer10@yahoo.com!

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