A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
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.
A land contract is a contract between seller and buyer of property. A contract is only made when an agreement between seller and buyer has been reached. The seller becomes the land owner only when the full payment has been made.
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.
The contract will delineate the responbilities of the buyer and the seller
"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.
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.
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.
Upon both the buyer and the seller signing the contract.
The date the Buyer signs it.
When it has been signed by the buyer and seller.
The price that the buyer and seller agree on.
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.
You should review the terms set forth in the contract to determine your rights. Generally the deposit is forfeited when the buyer defaults.
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.
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.
When the buyer does not perform under the contract, and it is not possible to get damages.
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.
Here in California, it is a matter of local custom. In Southern California, typically the seller agrees to purchase the owners policy for the buyer, the buyer supplies the title insurance for the lender. In Northern California, the buyer typically pays for both policies. It is, however, a matter that is covered in the contract between the seller and buyer and is negotiable, as is everything else. All closing costs can be negotiated as part of the sales contract. Who pays for title insurance varies from state to state based on local custom, but can be negotiated between the buyer and seller as part of the sales contract. There are no laws providing for either party to be required to pay. In the case where the seller has elected to pay title expenses, the buyer needs to make sure that the Lender has approved those fees to be paid by the seller. Some types of mortgages require that the buyer/borrower have a certain amount of funds available for the closing fees and may "cap" what fees can or cannot be paid by the seller in behalf of the buyer.
"Contract for Difference or CDF trades, are contracts between a buyer of a stock and a seller of a stock in a certain amount of time. The seller owns the stock and pays the buyer the value difference of the stock at the end of the contract. Invest at your own risk."