In a closing, both buyers and sellers have costs. Usually, the buyer is faced with more line-item expenses than the seller. For starters, most buyers are getting loans to make the purchase; many of the charges stem from the loan.A buyer should receive a âTruth in Lendingâ statement early on in the sale process.ll fees and charges can be negotiated during the real estate transaction. For buyers, coming up with an extra 1 to 2 percent in closing costs can be a bigger deal than a $5,000 reduction in the purchase price. A credit for $5,000 to go toward closing costs will be a much bigger bang for your buck for the buyer.
Meals Broken Down. The daily per diem is further broken down into each meal, plus the $5 incidental rate. Tier 1 per diems are $7 for breakfast, $11 for lunch and $23 for dinner. Tier 2 per diems are $8 for breakfast, $12 for lunch and $26 for dinner.Tier 3 provides $9 for breakfast, $13 for lunch and $29 for dinner.er Diem Breakdown. The GSA breaks down business trip per diem rates into two categories: The first is lodging and the second is meals and incidental expenses.. The incidental part of the meals and incidental expenses per diem is $5 per day no matter where you travel.
There are two kinds of Per Diem. Lodging Per Diem covers hotel or other lodging expenses. If an employee spends less than the Per Diem rate on a hotel they must return the difference to the government. The second form of Per Diem is Meals and Incidentals (M&IE). M&IE Per Diem is designed to cover the cost of breakfast, lunch and dinner and other miscellaneous charges one might incur while on travel. M&IE Per Diem will be paid at a pro-rated rate if employee is on travel for part of a day. Employees are allowed to keep the entire M&IE Per Diem regardless of whether they spend all of it that day. Per Diem rates are based on location and time of the year. Hotel prices often increase in the summer months so Per Diem rates will increase during those months as well. The federal government conducts cost of living surveys every year and uses this data set Per Diem rates appropriately.