(b) Section 27(4) concerns itself with whether “the purchaser is satisfied”, not with whether “a reasonable purchaser would be satisfied” or “the purchaser is satisfied on reasonable grounds”. They have cruises along the Hudson that stop at the historic towns and villages like Tarrytown. Each one is more appealing than the last one, but with the real estate choices available, and if you have planed ahead and know exactly what you want and need, there is sure to some real estate in Tarrytown New York that will make you feel right at home as soon as you step in the door. In truth it is calculated just by dividing the Yearly Lease by the Property Amount.|
Yet once the owner moves, the ownership transfers back to the corporation that runs the cooperative. Yet the charge is lower than the monthly co-op charge because there is no underlying mortgage for a condominium building. Although financing may be an option for some home buyers, they can expect a down payment in excess of the standard ten per cent. A potential buyer fills out an application and is interviewed by a representative of the building.
This is a show of good faith that the purchaser a) is committed to the purchase and b) generally has (or expects to have) the funds to do so. I’m quite sure Jeff Sutton Real Estate is just right for me. If the deposit is released, and the vendor spends these funds, there may be an inability of the vendor to return the funds if the contract fails due to the vendor’s default. Usually this request is made to use the deposit from the sale to then put a deposit on a property being purchased at the same or similar time. It is permissible to include the information in the contract documents so that time begins to run from the commencement of the contract, although this is generally only done if the vendor knows ahead of time that the funds are required for a related purchase.|
It is appropriate to ask the purchaser to sign an acknowledgment of receipt of the information with the contract, but it may be inappropriate to ask the purchaser to sign a deposit release at that time, although the two documents are frequently sent as a bundle for simultaneous signature. The objection must be ‘in writing stating that he is not satisfied with the particulars and giving the reasons why he is not satisfied’. The bank is generally the first one in line to be paid when a house is sold. If the deposit has not been paid, the vendor is entitled to sue for it even though the contract has been terminated.