If the contract to sell the car was silent regarding under what conditions you can repossess the car, then you must seek relief through the courts. It also depends upon the laws in your region - some jurisdictions to not empower private repossession - in these jurisdictions all repossessions must go through the courts.
Once the judgment is awarded, it is then recommended that you obtain the service of the Sheriff's office to escort you on the premise to retrieve the property due to you. Or you may contract a repo firm.
Unless the contract specifically allows you to, you can never change a contract unilaterally. You can only change the contract if the all parties agree.
A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
The contract will delineate the responbilities of the buyer and the seller
In terms of finance, the acronym cfd stands for "contract for difference," which refers to a contract that occurs between a buyer and a seller. In this contract, the seller of an asset agrees to pay the buyer the difference between the value of the asset when it is bought and when it is sold. However, if that difference is negative, the buyer will pay the seller the difference.
"In finance, a contract for difference is a contract between two different parties. Buyer and seller are involved. The buyer has to pay the seller the difference between the current value of the thing and its value during contract time."
A land contract is also known as a land installment contract and a contract for deed. It is a contract between a buyer and seller for real property where the seller provides the financing with specific terms.
Upon both the buyer and the seller signing the contract.
The contract is not enforceable unless both parties signed it. If the sellers changed their mind and didn't sign then you don't have a contract.
When it has been signed by the buyer and seller.
The price that the buyer and seller agree on.
The date the Buyer signs it.
No. The seller must honor the contract.
A seller can charge whatever interest they wish on a land contract. The buyer doesn't have to sign a contract if they don't agree with the terms.
The seller is interested in selling the property and not getting into a legal battle over breach of contract. Keep the deposit and move on to the next buyer.
Many office supply stores have blank contract forms of all types.
You should review the terms set forth in the contract to determine your rights. Generally the deposit is forfeited when the buyer defaults.
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
The time limit a seller has to sign a real estate contract will be part of the contract the buyer writes with his agent. Typically a buyer will get a recommendation from his Realtor what is customary in the local market. This can vary from giving the seller just a few hours, up to several days or more.
Get StartedA Contract for Deed is commonly used by a Seller of property who is interested in acting as a lender to the purchaser of their property. Through a Contract for Deed, the Seller also acts as the financer for the Buyer. This option has pros and cons for both Buyer and Seller.The Seller does not receive the total sales price for the property at the time of executing the Contract, but rather receives payments pursuant to the terms of the Contract. The Seller does retain ownership of the property until the Contract terms are met. Since the Seller receives periodic payments, the Seller can view these payments as steady income. Since the Seller is the financer, the Seller receives the total purchase price plus accruing interest as set forth in the Contract. The Seller takes on certain risks should the Buyer default on payments making it necessary to pursue foreclosure proceedings.A Contract for Deed assists a new homebuyer with no credit history or poor credit history in obtaining financing to purchase a home. By not using the traditional financing method of a bank or credit union, the Buyer can build credit by financing through a Contract for Deed. The Buyer must be cautious when entering into a Contract for Deed to ensure that the Seller is the actual owner of the property and has authority to sell the property. The Buyer can contact the County Recorder for the county the property is located in to check the property records.
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
When the buyer does not perform under the contract, and it is not possible to get damages.
If a seller and a buyer have already signed a contract, then you have to sell according to the contract. If you want to sell to someone else not on the contract, then you have to get out of the first contract.
Typically a real estate contract begins with a written offer from the buyer. The offer, to be official is signed by they buyer. From there there seller may make amendments and sign and amended contract, that needs to be approved and the changes are either initialled by the buyer and the seller or a new contract containing agreed upon amendments is resigned by both parties. The signing continues until a final agreement with all agreed changes has been signed by both parties. For further information, see the related link below.
When it is signed, sealed (usually the word "SEAL" is just to the right of the signatures) and delivered to the seller or his agent.