Home » What is Per Diem

What is Per Diem

Latin for “per day,” per diem charges may result if the buyer’s loan isn’t approved by the date indicated on the financing contingency on an offer. They will appear on the Closing Disclosure payable to the lender. This is the most common per diem cost. Sellers may also charge the buyer per diem fees if the deal doesn’t close on the date listed on the Purchase and Sale Agreement.