On Time Close Guarantee:
For buyers with certain transactions who choose go through out 'Same as Cash' fully approved buyer program, we guarantee our on time closings by paying the seller of the property $500 a day penalty in the event that we are late on our close of escrow due to our delays. Subject to the following terms:
Only valid on single loan, non-brokered transactions. Not valid on any 1st/2nd combo loans. If delay is due to the delay of any seller, agent or HOA management company delays, then we reserve the right to document such delay and push out scheduled COE based on that. If buyer/seller agree mutually to delay close of escrow, then penalty is based on later date. Payment will be made via check from our Corporate office after close of escrow. Penalty is calculated by taking the scheduled close of escrow date to the date the loan funds. We are not responsible for delays in recording the deed.