Sentences with phrase «meet the buyers conditions»

You and Mr. Irwin erroneously believe that the seller has the right to determine whether the buyer has acted in good faith while trying to meet the buyers conditions in the agreement.

Not exact matches

To reach those buyers, the Aurora needed improvements that included switching to electronic fuel injection to meet tightening emission regulations; enlarging the doors to accommodate new power windows and to allow easier entry and exit; and adding air conditioning and several other refinements.

Once a property is «in escrow», neither the buyer nor the seller will receive anything from the escrow company until all the conditions of the purchase agreement are met.

If your buyer is able to find an agreeable lender, the manufactured home must meet the following conditions to earn VA approval:

The federal Homeowner's Protection Act of 1998 gives buyers the right to request cancellation of the PMI when their equity reaches 20 percent of the home's value, after meeting certain conditions.

In view of changing economic conditions, traditional lending guidelines may no longer meet the needs of moderate income buyers with fair to good credit scores.

• FHA permits loans to Kentucky Home - buyers whose credit history indicates a short sale within the most recent three years prior to loan application, provided all of the following conditions are met:

The escrow agent holds the money exchanged in a purchase until all agreed upon conditions between the buyer and seller are met.

When all of the conditions of the sale are met, the third - party escrow officer transfers payment to the seller and delivers the title to the buyer.

The trial judge held that the change had been properly brought to the seller's attention; that it knew (through the knowledge of its solicitors) of the change, that the buyer had no reason to think that the seller did not know of the change and that the conditions for rectification had not been met.

Since most policies allow you 10 days to review and cancel for full refund, this gives the buyer the opportunity to review the policy to be sure they meet the requirements plus time to call the toll free number of the travel insurance company and ask if they meet the pre-existing conditions «waiver» requirements.

It is possible for the buyer to fail to meet the condition of the loan commitment, whereby losing their loan commitment and even their pre-approval.

Either commission is to be paid upon delivery of an offer meeting ALL pre set conditions, ACCEPTED or not by the seller, i, e,; price, closing date etc., «OR», (this then is a separate case, different from the preceeding case), upon ACCEPTING newly «created» differing conditions by the buyer after the fact of «considering» said differing conditions, that thereafter may be ACCEPTABLE to the seller upon due consideration by the seller of those new differing conditions from the original norms / conditions as set out originally within the listing.

In most cases it was returned when conditions were not met, provided the buyer had been diligent in their attempts to satisfy the terms.

However many wonder why a Mutual Release is required at all when the agreement that is obviously is agreed to by the Seller is quite specific about the deposit being returned to the Buyer when the condition is not met.

Currently most conditional offers are written such that if the condition is not met, the offer becomes null and void and the buyer's deposit shall be returned to the buyer in full, without interest or deduction.

Deposits that are given by Buyers in a Real Estate Transaction in the Province of Ontario are generally given in good faith with the clear understanding that such deposit would be returned in the event any of the conditions were not met.

What happens when the seller, after they have been properly informed in writing by the buyer that a condition has not been met, refuses to release the deposit?

So the next time you are representing a buyer who are using conditions to protect themselves in the offer, I implore you to provide the buyer with full disclosure as to the possible risks that they may be taking if the seller refuses to sign a mutual release of the deposit or maybe you might just consider using my clause to ensure they get their deposit back in case the conditions are not met!

These clauses state that if the condition is not fulfilled the offer is null and void and the buyers deposit shall be returned and furthermore that this condition is for the benefit of the buyer and may be waived at the buyer's sole option by notice in writing to the seller...... The way this clause is written any Buyer would believe that if the condition was not met and upon proper written notification the deposit would be retubuyer and may be waived at the buyer's sole option by notice in writing to the seller...... The way this clause is written any Buyer would believe that if the condition was not met and upon proper written notification the deposit would be retubuyer's sole option by notice in writing to the seller...... The way this clause is written any Buyer would believe that if the condition was not met and upon proper written notification the deposit would be retuBuyer would believe that if the condition was not met and upon proper written notification the deposit would be returned.

But what happens when the seller, after they have been properly informed in writing by the buyer that a condition has not been met, refuses to release the deposit?

What the Code Says (Article 1, Standard of Practice 1 - 15 and SOP 1 - 13 (5)-RRB-: Two conditions must be met before a listing agent has any duty to disclose multiple offers: The seller must grant permission to disclose such information, and the buyer or cooperating agent must ask for the disclosure.

Most Agreements of Purchase and Sale don't require the buyer to explain why the condition was not met unless the seller calls for such explanation in the agreement, which is rarely the case.

I don't understand the mutual release requirement because the conditional clause says that this is for the benefit of the buyer and funds are to be returned to the buyer if the conditions are not met.

In many cases this is the first time that buyers discover that the return of their deposit, if the conditions are not met, is dependent on whether the seller will sign the mutual release.

The issue being discussed here is that often prior to the deal going firm there are conditions in the agreement inserted for the benefit of the buyer to obtain financing, home inspection etc wherein the agreement states that in the event these conditions are not met the buyer's deposit will be returned to him without deduction or interest.

Either way, all are in place to protect buyers and sellers, allowing either to walk away from a deal if their conditions are not met.

I recall a court case, though, where the judge decided due to something beyond the control of the buyer that the deadline had to be extended, that it was unreasonable that the buyer would lose the deal when all other conditions had been met.

As I indicated in my initial article, in most deals where the buyer's conditions are not met, the seller is co-operative and they sign the Mutual Release and the buyer's deposit is returned without incident.

My suggested clause obtains the Seller's consent at the time of the signing of the agreement to release that deposit back to the Buyer in the event the Buyer condition is not met without obtaining further consent from the Seller which I believe is implied in the agreement anyway.

Currently, RECO holds thousands, perhaps more, of deposit dollars in trust from deals where buyer conditions were not met and the seller refused to sign the mutual release.

The concept of automatically returning the buyer's deposits to the buyer when conditions are not met, from my limited research, happens in other provinces such as Manitoba, Saskatchewan and Alberta.

If the condition is for more than 10 days then the Seller's Agent should recommend an ESCAPE clause be inserted into the offer so that the property can still be available for sale but subject to the first refusal of the first Buyer, PROVIDED THEY MEET THE Ccondition is for more than 10 days then the Seller's Agent should recommend an ESCAPE clause be inserted into the offer so that the property can still be available for sale but subject to the first refusal of the first Buyer, PROVIDED THEY MEET THE CONDITIONCONDITION.

Corp. (204 A.D. 2d 601) judgment dismissing complaint affirmed, contracts of sale conditioned upon buyers approval of changes to rider which required letter from Town Planning Bd.; seller's failure to obtain letter is not evidence of bad faith, even if letter produced, it would not have effectuated meeting of minds on all essential & customary terms.

2d 651) holding that no cause of action exists under the Property Condition Disclosure Act; court finds buyer entitled to $ 500.00 credit under RPL § 465 (1) where seller delivered an incomplete Property Condition Disclosure Statement; seller failed to perform the duty to deliver a Disclosure Statement pursuant to the PCDA when the statement was incomplete; cause of action exists under RPL § 462 (2) for willful failure to perform the requirements of the PCDA where (i) a deliberate misstatement or misstatements in a fully completed and timely delivered PCDS regarding the defective condition complained of (ii) that would tend to assure a reasonably prudent buyer that no such condition existed, and (iii) which a professional inspector might not discover upon an inspection of the premises that would meet generally accepted standards in the trade; definition of «willful failure to perform» acknowledges legislative intent not to alter the respective burdens of the buyer and seller in the transactions; statutory cause of action replaces buyer's burden of having to plead and prove the seller's active physical concealment of the condition with proof that the misstatement about the condition on the PCDS was deliberate

This Advisory is designed to assist home buyers in meeting their obligation to satisfy themselves as to the condition and desirability of property they are interested in purchasing.

Earnest Money Agreement (Sales Contract) The written agreement between the buyer and seller of a property, which stipulates the amount of the purchase, closing date and any repairs or other conditions that must be met before the transaction (purchase) is completed.

For example, if a buyer purchases a condo on Miami Beach, only to discover after he or she moves in that the condo's central air conditioning does not adequately cool down the property, then he or she has a warranty claim against the seller because a latent defect (a hidden defect) caused a failure of the ac unit to meet ordinary, normal standards reasonably to be expected of a condo of comparable kind and quality.

«Credit profiles that fail to meet tighter underwriting standards are conditions that continue to work against first - time home buyers,» according to the report.

But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and / or seller before the deal can close.

Typically, the buyer (or an agent acting on behalf of the buyer) will instruct the escrow officer to release funds only when all conditions have been met, title insurance has been issued and the seller's deed has been signed.

Contract contingencies give the buyer and seller the right to back out of the contract if these conditions (contingencies) are not met.