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How do you cash a certificate of deposit if the original seller of CD is out of business?
Wiki User
∙ 16y ago
A CD (certificate of deposit) is federally insured, so your money should still be available even if the original bank who issued you the CD closed. A good place to start would be to consult with a banking specialist or attorney.
Wiki User
∙ 16y ago
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Why would a seller make a sale to a buyer that has no money the seller can use?
The seller can use other means to recap the money. Countertrade can be used to provide back a means of paying for the original goods.
Can you use a personal item as earnest money?
ANYTHING or any amount can be used as Earnest Money as this is about the mutual contract between the contracting parties. this is the satisfaction of the seller that on what thing or money he is ready to accept as EARNEST MONEY OR DEPOSIT. this is to secure the transaction and it is the satisfaction of the seller only
What is a Buy back clause?
A "Buy Back Clause" is used so that if whatever was sold to you by a seller is going to be sold in the future the original seller has first right to buy before anyother attempt to sell is made.
Should you give your earnest deposit money to the title co?
An earnest money deposit is a good faith deposit that a buyer puts forth to secure the contract and to illustrate to the seller the seriousness of their investment. The following are some guidelines as to how/who a buyer should facilitate their earnest deposit to:Never give an earnest money deposit to the seller.Make the deposit payable to a reputable third party such as a well known real estate brokerage, legal firm, escrow company or title company.Verify that the third party will deposit the funds into a separately maintained trust account.Obtain a receipt.It is unadvisable to authorize a release of your earnest money (or a pass-through) until your transaction closes.
When should a purchaser ask for selling financing?
The best time for the purchaser to ask for selling financing is when the home is free and clear of a mortgage meaning that the seller has paid off their mortgage or it will be paid off using the purchaser's deposit.
Is it legal to keep a deposit on a motorcycle in Ohio?
A deposit is a promise to buy the vehicle As you have made a deposit the seller has agreed not to sell the vehicle to anyone else. This is a binding contract and in most Places the seller can force you to buy the vehicle. If he allows you out of the deal and keeps the deposit you are luck he only charged you the deposit.
What are the financial repercussions for breaching the contract for the purchase of a home?
You would forfeit your deposit. In other words, the seller gets to keep your deposit.
Can seller of used car change mind if deposit has already been paid?
No
What happens if the premise of an authorised seller of poisons gets registered in Hong Kong?
An Authorised Seller of Poisons is a business with a registered pharmacists selling poisons in retail or a company or an unincoportaed body of persons with the actual sale of poisons being carried out by a registered pharmacist in a registered premises or under his supervision.
Can you get a deposit back from private party if you weren't able to obtain a loan for the vehicle?
You can always ask, but the seller assumably held the vehicle in good faith that you would complete the purchase and possibly lost the potential sale of the vehicle to other buyers. By placing the deposit you were assuring the seller that you had the means to complete the purchase, which you did not (unless otherwise discussed or agreed). The deposit is forfeited unless the sale failed to materialize due to error, omission, or fraud on the part of the seller. If an agreement was made otherwise, you may have grounds to recover the deposit.
What is an escrow deposit?
An escrow deposit is money put down to hold a contract to purchase real estate. The deposit should be given to a 3rd party such as a realty agent to hold. When you are attempting to purchase a business, you usually put up an 'earnest money deposit' to be placed in escrow. The deposit money does not belong to the seller. The last person you want to give it to, to hold onto until closing (settlement, passing of papers) is the seller! If the deal sours and the seller has already used the money ("Oh, he told you it would go into a special fund? It did...") it may be extremely difficult to get your deposit back. Perhaps in the seller's mind he thought it was his to keep. Give it to a third party to hold! If you are buying a FSBO (for sale by owner) give it to an escrow agent, escrow title company, attorney, or you can go to the bank and set up a special escrow account. (This may vary by state law. I just tried to put a deposit into it's own escrow account and the bank will not let 'escrow' be on the account as it implied they were the escrow agent and they want no liability or part of a dispute.)
If buyer requests a release from contract can seller choose to enforce the contract?
A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
Can a seller back out of a signed agreement to sell a car if they refund your deposit?
Not legally unless the buyer agrees to it.
What is a good faith deposit?
A good faith deposit is a deposit put down on a large ticket item to show you are serious about buying it. It can be any amount agreed to buy the seller and buyer. Sometimes it holds a space or reserves something.
Put a deposit on a bedroom set out of the newspaper changed your mind Can you get your money back?
Legally, they are allowed to keep your deposit although if they are nice enough they will hand it back. That is one of the reasons why a deposit is made, usually they will not give back a deposit as the buyer is putting the seller out of pocket. thanks.
When consumers are willing to buy more than producers are willing to sell?
then sellers will sell to a buyer if he or she sells to a market who then sells to the original seller then he must sell to the market if he wants buy from the producer who was the original seller then the market is the buyer then the seller can buy from the consumer.
Where can you find a list of questions to ask a broker-seller about buying a business?
Have a look through the buyer and seller pages on www.BizSales.ie
