Posted by Dave T on March 15, 2001 at 10:11:52:
I interpret the paragraph to say that marketable title will be delivered at settlement. The only thing to fill in is the settlement date.
Either enter an exact date of settlement, or check the box that says settlement will take place 30 days after the contracts are accepted.
The 30 day period should give your seller’s time to move out, or, select a specific settlement date just after the sellers have vacated.
Paragraph #10 (LeGrand) - Posted by Jim
Posted by Jim on March 14, 2001 at 22:43:40:
When buying subject to and on the purchase & sales agreement (LeGrands) where it says: (In paragraph #10)
TITLE EXAMINATION AND TIME FOR CLOSING. If title evidence and survey, as specified above, show seller is vested with a marketable title, subject to the usual exceptions contained in title insurance commitments (such as exceptions for survey, current taxes, zoning ordinances, covenants, restrictions and easements of record) the transaction will be closed and the deed and other closing papers delivered on or before [ ] _______________________ [ ] 30 days after date of acceptance.
What is the correct entry if the people are still in the house but need time to move out?
Would it be one of the above or should another option be entered there like [ ] 30 days after buyers possession date.
I’m a little confused on this paragraph.
Thanks for the help
Jim