Underwriting fee:
$2,500
The underwriting fee is an upfront, non-refundable fee to determine if your purchase agreement and the escrow agent qualify. This fee is due when the contract with SoftDeposits is signed.
Option fee:
2.5% of the soft deposit amount (for 30-day period)
Due at the beginning of the due diligence period. For a 60-day period, the option fee will be 3.5% of the soft deposit amount, and for 90 days (the maximum), 4.5%. The minimum for option fees is $10,000 (i.e.: 2.5% of a $400,000 soft deposit requirement).
Exit fee:
5% of the soft deposit amount
The exit fee is applicable only if you choose to buy and is payable when the LLC membership is assigned to you.
Your total soft deposits fees for the option will never exceed 1% of the property’s purchase price.