Jon Klaus
Seller fears due on sale clause
7 March 2011 | 10 replies
I suggest maintenance jobs being let by the manager up to a cut off, like $500 without seller consent, tenant approvals, evictions, but the buyer can't encumber the property or obligate the company in any contract over the cut off.
Ron V
subject 2 docs and forms
8 November 2023 | 13 replies
XIX.SUBJECT TO/DUE-ON-SALE ACKNOWLEDGEMENT: IF CHECKED : ________________________________ Land Trust, as Buyer have entered in to a certain purchase and sales agreement date herewith, the parties fully understand, acknowledge and agree as follows: 1.Seller and Buyer are fully aware that the mortgage(s)/deeds of trust securing the property Described in Section I contain(s) provisions prohibiting the transfer of any interest in the property without satisfying the principal balance remaining on the underlying loans and/or obtaining the lender’s prior written consent (i.e., a “due-on-sale†clause), and that this transaction may violate said mortgage. a.Seller specifically understands that this loan will be paid on a monthly basis by buyer, but will not be assumed or paid off completely at this time, and that this loan and loan payments will remain in Seller’s name and may continue to appear on Seller’s credit report. 2.Seller and Buyer execute this disclosure form after having had the opportunity to seek legal counsel as to the legal and financial implications of the due-on-sale clause.
Joshua Dorkin
Real Estate Guru Emails: How Many Do You Get?
22 April 2011 | 35 replies
Heck this site has this in their terms of useBy providing us with your email address through registration or our opt-in list, you consent to our use of the email address to send you periodic service-related notices, including those required by law.
Matthew J. T.
What is the difference between wholesaling subject to and a mortgage assignment?
10 September 2012 | 22 replies
: Buyer have entered in to a certain purchase and sales agreement date herewith, the parties fully understand, acknowledge and agree as follows: 1.Seller and Buyer are fully aware that the mortgage(s)/deeds of trust securing the property Described in Section I contain(s) provisions prohibiting the transfer of any interest in the property without satisfying the principal balance remaining on the underlying loans and/or obtaining the lender’s prior written consent (i.e., a “due-on-sale” clause), and that this transaction may violate said mortgage. a.Seller specifically understands that this loan will be paid on a monthly basis by buyer, but will not be assumed or paid off completely at this time, and that this loan and loan payments will remain in Seller’s name and may continue to appear on Seller’s credit report. 2.Seller and Buyer execute this disclosure form after having had the opportunity to seek legal counsel as to the legal and financial implications of the due-on-sale clause.
John Smith
How to protect my interest in a deal
14 September 2011 | 7 replies
Commonly known as and more specifically described in Exhibit "A" attached hereto and made a part hereof by reference, together with all tenements, hereditements and appurtenances thereunto belonging.For and agreed sum and for good and valuable consideration of the covenants and agreements on the part of the Buyer, Seller has agreed to sell and convey to the Buyer and Buyer has agreed to buy, the Property upon the terms and conditions set forth in the Contract, which terms and conditions are incorporated in this Memorandum by this reference.Except as provided in the Contract from the date hereof, Seller shall not have the right, with respect to the Property to enter into any new contracts, leases or agreements, oral or written, without the prior written consent of Buyer.This Memorandum is not a complete summary of the Contract.
Bienes Raices
"Due on Sale" clause and interest rates?
1 October 2011 | 36 replies
It probably says that ANY transfer without the lender's consent is a violation of the contract and the lender's remedy is to call the loan due in full.It is a clause in a contract that you agreed to when you took the loan.
Francis Dai
Questions on Subject to Financing Details
27 November 2011 | 12 replies
(A sale payoff is different than a refinance payoff)2) Attach insurance to the property in "my" name.3) Make my mortgage payments with my name on the check.4) Record the Deed which gives Constructive Notice.As for disclosure here is my latest disclosure to the seller.Buyer have entered in to a certain Purchase and Sales Agreement date herewith, the parties fully understand, acknowledge and agree as follows: 1.Seller and Buyer are fully aware that the Mortgage(s)/Deeds of Trust securing the property Described in Section I contain(s) provisions prohibiting the transfer of any interest in the property without satisfying the principal balance remaining on the underlying Loan(s) and/or obtaining the Lender’s prior written consent (i.e., a “Due-on-Sale” Clause), and that this transaction may violate said Mortgage(s). 2.Seller specifically understands that the Loan Payment(s) will be paid on a monthly basis by Buyer, and that the Loan(s) will NOT be assumed or paid off completely at Closing, and that the Loan(s) and Loan Payments will remain in Seller’s name and may continue to appear on Seller’s credit report. 3.Seller and Buyer execute this disclosure form after having had the opportunity to seek legal counsel as to the legal and financial implications of the Due-on-Sale Clause included in the Mortgage(s)/Deed(s) of Trust.
Charley F.
Security Deposit: Tenant Moving
24 May 2021 | 6 replies
.- Tenant changed the lock (without consent) but left all keys.
Willy Wallace
Need help! First absentee homeowner phone call today-
29 March 2017 | 5 replies
an applicant or licensee has paid or received a rebate, profit, compensation or commission to or from any unlicensed person, except the licensee's principal or other party to the transaction, and then only with that principal's written consent'.
Lewis Christman
Tenant gave notice & now got a dog - how would you play it?
25 March 2019 | 39 replies
PETS: No pets or animals may enter or be kept on the Premises without our written consent.