Sentences with phrase «buyer forfeits»

During that time, the home buyer forfeits $ 34,000 in lost home equity.

After Substantial completion the purchase contract usually stipulates 30 days to close or the buyer forfeits the lot and the earnest money.

During that time, the home buyer forfeits $ 34,000 in lost home equity.

This could result in the buyer forfeiting his down payment and all monthly payments, plus risk eviction from the property.

Does buyer forfeit the property and the payments that have already been paid?

And, if a buyer walks into an open house or schedules an appointment from an online ad, should the buyer forfeit their right to get their own agent to help them negotiate the deal?

Not exact matches

Buyers should make sure under what circumstances this fee could be forfeited during the rental portion of the deal.

If they don't find the money to close on their new houses, the buyers say they will have to forfeit hundreds of thousands of dollars in deposits and face a potential legal suit from their builder, Mattamy Homes which is refusing to extend closing dates or reduce prices.

Earnest money can be forfeited to the seller if the buyer backs out or fails to hold up the terms of the contract.

The high, 6 - percent threshold allows buyers to receive the same financing without having to forfeit contributions.

While buyers can always back out of a deal, doing so without good reason may forfeit their earnest money (the cash put down to secure the offer, typically around 1 % -2 % of the home's price).

«If the buyer's financing should fall through due to debt to income ratios, inconsistent income, failure to provide necessary income documentation and / or any issue concerning self - employment, buyer agrees to forfeit all earnest money to seller.»

If the buyer changes his mind or is unable to purchase, the earnest money is forfeited unless the binder expressly provides that it is to be refunded.

Consolidating federal loans with a private lender means you forfeit the buyer protections, like income - based repayment, that comes with them.

If the buyer backs out before the closing, he or she forfeits the earnest money and the seller gets to keep it.

The buyer can't pull back out of the sale without forfeiting their earnest money deposit.

On all my short sale contracts the buyer is required to wait for a minimum of 90 days or they would forfeit their escrow deposit which typically is 5 % of the homes purchase price.

on Real Estate Broker's Failure to Disclose That It Was Acting for Both Buyer and Seller Results in Forfeit of Nearly $ 18,000 Commission

If Buyer does not comply with that aspect of the contract, he will have breached the contract, the sale falls through, and presumably forfeits his «earnest money» (assuming there is such a thing in the deal).

Maine court rules broker could retain half of the forfeited buyers» deposit, even when broker received subsequent commission from sale.

The court's interpretation was that a deposit would generally be forfeited if the buyer repudiates (even without proof of damages).

If the buyer can not close, they will likely forfeit their deposit and be subject to a lawsuit from the seller, for the difference in the sale price if the seller now sells the property for a lower price than the buyer agreed to pay.

The Seller argued that the Buyer had defaulted on the purchase contract and so had forfeited her deposit.

A. Earnest money deposit check -LSB--RSB- or promissory note -LSB--RSB-, which will remain as a binder until closing, and be held for Seller by closing agent (chosen by Buyer) for Seller until closing, unless sooner forfeited or returned, according to the provisions of this Agreement.

The mere fact that this sum of money is referred to as a deposit in the Agreement, is enough for Ontario courts to consider it to be something which the buyer is willing to forfeit in the event of default.

Maine court rules broker could retain half of the forfeited buyers» deposit, even when the broker received a subsequent commission from a sale.

The property they may have been wanting to purchase above any other, but which has not been for sale, may suddenly come onto the market after a deal has been struck with a primary seller, and the buyer may thence decide to breach said deal and forfeit the deposit in order to purchase the other property.

What I said was that one dollar «may be» offered as a deposit and that a deposit is not legally required within an initial APS; I would advise a customer and / or client buyer thus, and I would advise them that any deposit amount is legally regarded as being forfeited to the seller if a deal falls through (post acceptance by both parties) at the behest of the buyer.

Should a buyer find themselves forfeiting this confidential information they might as well be buying privately!

In dual agency, the broker gets paid double and the buyer and seller forfeit their right to representation on such things as negotiation of price and terms (2 of the top 3 reasons consumers hire Realtors *).

When the buyer selects an Edina agent, he does not just forfeit his right to representation, he neutralizes and forfeits the seller's as well.

Current upgrading of the real estate practitioner is now required every 2 years or they will forfeit their real estate license Ok, brace yourselves for the following sequence of events that may turn you from a property owner into either a buyer again or maybe even a renter (Heaven forbid).

Buyers should avoid websites that are affiliated with brokerage firms and choose independent websites so that they are not automatically directed to an agent that will cause them to forfeit their right to representation.

If you do allow this, you will forfeit both your and the buyer's representation and unnecessarily pay your broker double for doing the job you originally hired them to do.

Without contingencies, a buyer could forfeit his deposit under certain circumstances if he backs out of a deal.

Unfortunately, most of those same homebuyers forfeit their right to representation and the buyer brokerage fees that could have been saved by failing to properly set up showings.

So one way you might be able to go see properties without your broker and without forfeiting fees and representation is to first hire a buyer broker by the hour (with a rebate clause for the difference) and then start calling listing brokers to view their listings (check the laws in your state).

Many do it yourself home buyers unwittingly forfeit the buyer brokerage fee and lose a chance to increase the equity in their house.

When that happens, the buyer and seller forfeit their right to any meaningful representation and the broker gets paid double for doing a fraction of the work.

Unless the offer to purchase expressly states that the earnest money will be refundable if the sale does not go through, the buyer typically forfeits the earnest money in the event that the contract is not executed.

However, most of those buyers end up contacting the listing broker and unknowingly forfeit their representation and give the listing broker an extra 3 % in commissions.

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

Unfortunately, a buyer only has two years from the date of closing to bring this application or they forfeit the HST rebate.

On all my short sale contracts the buyer is required to wait for a minimum of 90 days or they would forfeit their escrow deposit which typically is 5 % of the homes purchase price.

In addition, the buyer and seller forfeit their right to representation.

When a home buyer clicks on a listing on a real estate website, or calls off a real estate sign, or attends an open house, the buyer is unwittingly forfeiting their and their seller's right to representation and ensuring that the broker collects twice as much for doing a fraction of the work.

Some licensees mistakenly believe that this decision, which, based on the terms of the contract, referred to deposits being «non-refundable» and «absolutely forfeited» if a buyer does not provide sufficient funds for completion, means that a brokerage no longer requires to have the parties sign a written release before the brokerage may release funds it holds as a stakeholder.

As a buyer, you could forfeit your deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.

Earnest money: money put down by a potential buyer to show that he or she is serious about purchasing the home; it becomes part of the down payment if the offer is accepted, is returned if the offer is rejected, or is forfeited if the buyer pulls out of the deal.

If this buyer decides not to proceed, they may forfeit the money credited to a purchase, but these losses could be small compared to the potential cost of multiple real estate transactions and / or property repairs in order to resell the house and find a different home.