Word: buyer
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...pull out of the deal at any time and get back his $5 million loan. He has carefully avoided threatening to withdraw if the FCC refuses to give him relief, but he would have little incentive to suffer Texas-size losses. In the absence of any other acceptable buyer, the Star's owning families could elect to fold it and live off broadcasting...
...meeting at which the seller and buyer of a house sit down with their lawyers, lenders and real estate brokers to sign the deal is usually a tense session -not least because the two principals do not yet know how much they will have to cough up in closing costs. Under a new federal law taking effect this week, they will be forewarned, if not cheered. The Real Estate Settlement Procedures Act requires that the lender give both buyer and seller an itemized list of closing costs at least twelve days before settlement...
...buyer still faces a bewildering array: fees paid to a lender for processing the mortgage (usually 1% of the note); fees paid to the lender's lawyer for inspecting the title (about $125); fees paid to the buyer's lawyer for doing the same thing and generally making sure everything is according to Hoyle ($150 to $650); and title insurance (about $200), in case title proves faulty despite all the money paid to lawyers to make sure it is not. The seller's big expense is the real estate broker's commission. All together, the Senate...
...does nothing directly to lower costs; it merely gives a buyer or seller some time to object and negotiate. For that reason, Senate Banking Committee Chairman William Proxmire considers it inadequate and is pushing a measure that would have mortgage lenders pick up the costs in lieu of going through disclosure procedures. Of course the lenders would pass those costs along in higher interest, but, Proxmire argues, they would have an incentive to keep the costs down, and have far more bargaining power with lawyers and real estate brokers than the lonely buyer does...
...every buyer is a musical amnesiac. Gamesplayers, for example, might have their own use for Parsons' manual. What do the following songs have in common: Beautiful Dreamer, Smoke Gets in Your Eyes, Summertime, Easter Parade, You're the Top, and Yes, We Have No Bananas'? In Parsons' code they all share the opening signature...