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form boston offer purchase

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OFFER TO PURCHASE CONTINGENCY ADDENDUM The BUYER, if checked, hereby incorporates the following contingencies into this Offer to Purchase Real Estate. MORTGAGE CONTINGENCY In order to help finance
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The amount of time to have the required payment made shall be (with a maximum of 60 days) plus either 15-days or 60 days, whichever is longest. If a final mortgage is not obtained for the purchase property, the purchase price in excess of the purchase price of the property may be used in determining the amount of liquidation proceeds in respect of the purchase. HEDGING CONTINGENCY In the event that the BUYER, in the sole discretion, may be unable to purchase any portion of the property prior to the closing date and thereafter and the purchaser fails to perform in all respects all the terms of the contract, the Seller or Buyer or both, as the case may be, shall be authorized and empowered to perform, without any further obligation or liability whatsoever, at any time and without obtaining any further notice and payment, a deed of foreclosure upon the real property, which deed shall be executed and delivered only in the same manner as if the real property had been purchased by the BUYER, which deed shall, upon the execution thereof by the Seller or Buyer, shall transfer the rights, title and interest in and to the real property to the Seller or Buyer, as the case may be, upon a true and good deed for the amount in dollars for which payment is required in the deed. In the case of a deed to vacant possession, such deed shall give the purchaser of the property the right to occupy the leased real property for the term of such deed, or ten years from the date of the execution thereof, whichever is least, and shall give him a right to sell the leaseholder the remaining real property in the building or lots thereof that is not the tenant, or portions thereof, if any, at the public sale. In the event that the purchaser fails to perform, in all respects, the terms of the deed or the lease, the seller or Buyer.
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Hi everybody I'm Sharon McNamara, and I am from Boston Connect real estate and what I'm going to do today is just a little tutorial on how to put an offer and I thought that this would be a fun little venture and one of my little Diaries that I would do for you so in front of you can see that I have a contract to purchase real estate and this is the Massachusetts Association of Realtors this is a standard form here, so this is where I would put the buyers name and information and this is where I would put the owners' information, but I'm just going to keep that blank for now for training purposes I just really don't want to get too much into that this section here the buyer offered to purchase the real estate described as this is where I would put the address, so I'm just going to say 1 2 3 Main Street even though that is not the address, but that is where it would go generally speaking what I also write in there is like more fully up next as the city and street but what I would put up here sorry about that up here I might write something more fully shown in book and page so more fully shown in book 1 to page 1 2 3, so we are usually able to fit that in there and I sort of maneuver things around as I'm doing this, but I always put in there more fully shown in booking page that way there people are able to specify exactly what property we're talking about this also is where you would put whether what it's I have been introduced to this property and this is where you would put the company so obviously it's Boston Connect real estate and for training purposes I'm not going to put in whom the other company is that I'm going to be working with but we're going to be submitting this offer to another company locally and that's where their name would go to the purchase price of the property so this is where we put in what the offer is going to be and so just for training purposes on going to put in a certain number and let's just say that that purchase price was three hundred and ten thousand dollars we would put that there generally speaking when you're putting in an offer in order to let the buyer I mean to let the seller know that you're really putting your best foot forward and you're really interested in their property you put down a deposit to bind to the offer so generally speaking we see about a thousand dollars for that so that deposit is money that you would put down again to go with the offer if the offer isn't accepted then the check is never cashed if the offer is accepted then it's cached immediately so that money goes into the escrow account so the other company that I'm working with they're the listing agent so that thousand dollar deposit would go directly to that company the check is made out to that company so let's just say it's ABC royalty the check is made out to ABC royalty for $1,000 when the offer is accepted that money is held in ABC royalties escrow account so that's where that money goes so that money cannot be commingled with...
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