What is the " REASONABLE FEE" for a assignment note?
we are in the processes of doing a refinance on a property. The currant lender agreed to assign to note and that we have to pay "reasonable" attorney fees for the assignment note.
The note is a simple ( i believe) hard boiled template, 1 page document .What is the " REASONABLE FEE"?
the point of stating the term "reasonable" in a contract is not to negotiate and to be fair for both parties, but still has to be "reasonable"
I am not looking to negotiate this fee but want to make sure its reasonable.
Can I legally challenge the lender if the lender is charging an excessive fee for this?
1 Answer from Attorneys
Ask that the fee be set forth before you accept the financing. You have a right to know your charges in advance.