How do I set a new interest rate for late cash to close?
Mike Jackson
Last Update vor 3 Jahren
The seller from time to time may require a specific interest rate for the purpose of late interest on the cash to close. You can now select a specific interest rate for that seller that will populate the trust letter, the tenancy-at-will and other related documents.
To add the late interest to a matter, go to the Actions Menu > Seller/Buyer then go to the first listed seller. Go to the "Banking and Financial Info" section and enter the interest rate then click Save. If there is more than one seller, Prolegis will only use the interest rate from the first seller.
The interest rate will now populate in relevant documents. If no interest rate has been selected, the default of Prime +3% is included in the trust letter, tenancy-at-will and other related documents.