When a Purchase and Sale Agreement doesn't close and neither buyer nor seller had signed the final paperwork on closing day, how do you determine which party breached the contract? I'm in Washington State and our contract was the standard MLS form.
It depends on why the parties didn’t close the transaction. You would need to describe the sequence of events or reason why it evolved this way.Example 1: Let’s say the buyer’s lender needed additional time to get the loan documents into escrow and the loan funded (an avoidable issue but one which occurs quite often). Without the loan docs to sign, the closing gets delayed. The seller needed the funds on time to close on the purchase of their next home on time, so now we’ve got one very upset seller!This would be a breach by the buyer. The seller can sign quickly just after the buyer does, so they wait for confirmation that the loan docs are received, etc. In this case, neither party has signed but it’s the buyer’s fault.Example 2: Let’s say the buyer is ready to sign the loan documents but the lender requires a particular document signed by the seller. The seller is scheduled to sign their papers on Thursday afternoon and closing (title transfer to the buyer) is set for the following day, Friday afternoon*. The buyer has movers and everything set to move-in Friday evening.Unfortunately, the seller misses the bus to the signing appointment and cannot get to the escrow office before it closes on Thursday. The seller reschedules to sign on Friday, but the buyer is not available to sign the loan docs on Friday, so the closing slips to the following week. It turns out that Monday is a holiday, so the closing gets delayed until Tuesday (at the earliest). Uh oh…The buyer loses their appointment with the moving company, they have to cancel all the friends who were going to help, and the buyer is leaving on Tuesday for a business trip, so a bad situation is getting worse. We’ve got one very upset buyer who now wants compensation.This would be a breach by the seller. In this case, neither party has signed but it’s the seller’s fault.And, yes, stuff like this does happen. After you’ve been a broker for 20+ years, you have a few stories to tell.*Assume that we table fund Friday morning and record special Friday afternoon. It happens.Note: the answer by Robert Flynn misunderstands the question: the Purchase/Sale Agreement has been signed and is executory. The poster said the final closing papers (loan, deed of trust, etc.) were yet to be signed. Big difference.
How to decide my bank name city and state if filling out a form, if the bank is a national bank?
Somewhere on that form should be a blank for routing number and account number. Those are available from your check and/or your bank statements. If you can't find them, call the bank and ask or go by their office for help with the form. As long as those numbers are entered correctly, any error you make in spelling, location or naming should not influence the eventual deposit into your proper account.
Why do asylum seekers start their journey from South Columbia to the United States border? Why don't they just land in the U.S.A. via a plane and fill out the asylum form?
Thanks 4 the A2A!I live in Europe and have never tried boarding a plane in Columbia but from what I know, no airline will allow you to board unless you have a US passport or a valid Visa. Also, the tickets are not really cheap and affordable for everyone. Even if you can afford them, you legally can not get on that plane.Just imagine: how great it is when you have all those freedoms! Be grateful that you have the passport that you have and do not even have to think about such trivial things. Not everyone is as lucky.People in misery, regardless if they seek refuge from Central America of Syria or elsewhere, just want to LEAVE all that behind and have the chance to live a normal life somewhere better, somewhere safe. I personally think that the voyage a refugee undertakes is as risky as the wars and problems they are trying to escape from and they should be helped instead of making their sad lives even more hard by rigid administration.Of course, nothing will get better as long as the essential problems aka reasons why they are leaving in the first place, are addressed and solved. But there are interests behind that, groups of people who live of that and they will not give up their positions easily. Almost like some sort of a viscous, endless circle. And it is always normal, “small fish” people that suffer the most.Good luck to all of you who venture on that path!
How does registration happen in case of a land purchase? As per the sale agreement executed between the seller and buyer, the cost of land is 10.25 lakhs, but the government value is 7.6 lakhs. With which amount should we register?
Ideally, the sale should be registered at the market value. However, due to high stamp duty and registration charges, people started undervaluing the property to save on those costs. On recommendation of GOI , many States in our country have reduced the stamp duty and registration charges.Despite this,as the saying goes,old habits die hard. The Stamps and Registration Department issue a circular on guidance value from time to time,to plug the revenue loss. The basis of guidance value is based on average statistical valuation derived from sales registered in the previous three to five years. One may observe, uncannily the market value is almost the double of the guidance value in Class 1 cities and four times in smaller towns and agricultural lands near them and http://high-ways.It should be the duty of every citizen to register the properties at correct value and pay all applicable fees and taxes.
What capital gains, transactions, state or federal incomes or other taxes might I need to pay in Western, PA when selling my long-term first and only home in a deal where I would use about half my sales profit to purchase an open land from the home-buyer in a mutual agreement of some sort?
If you have only used the home as a personal residence you can exclude up to $250,000 of gain on the sale from tax ($500,000 exclusion if you are married and you and your spouse file a joint return). Neither the IRS nor PA tax gain on the sale of your primary residence as long as you meet the usage test (it was your primary residence for 2 of the last 5 years) and the total gain is under the exclusion limit above.You no longer have to purchase another home to qualify for the gain exclusion.If you have used the home for any business purposes where you might have depreciated a portion of the home such as rental or home office, then you may have to recapture some or all of the depreciation as income when you sell, but the capital gain is generally not taxable as long as you meet the qualifications for exclusion.
How do I get admission to TU if I have qualified for the JEE Mains? I am from Assam, and I want to do so under the state quota. Will there be any state rank list to be released, or do I have fill out any form?
If you haven't filled up any form then I am not sure if you are gonna get any chance now….This is the procedure they follow--- after you have qualified in JEE-MAINS. You have to fill up a form through which they come to know that you have qualified. Then they give a list of student according to their ranks (both AIR & state ranks). Then according to that there's three list A,B & C in which there's all the quota and all. And they relaese one list in general. According to that list theu release a date of your counselling .Note- The form fillup is must.
What forms do I need to fill out to sue a police officer for civil rights violations? Where do I collect these forms, which court do I submit them to, and how do I actually submit those forms? If relevant, the state is Virginia.
What is relevant, is that you need a lawyer to do this successfully. Civil rights is an area of law that for practical purposes cannot be understood without training. The police officer will have several experts defending if you sue. Unless you have a lawyer you will be out of luck. If you post details on line, the LEO's lawyers will be able to use this for their purpose. You need a lawyer who knows civil rights in your jurisdiction.Don't try this by yourself.Get a lawyer. Most of the time initial consultations are free.