Examples of Sales Price in a sentence
The Buyer is responsible for withholding from the sales proceeds ten percent of the gross Sales Price in compliance with applicable tax law and submit the said amount to the Internal Revenue Service in conjunction with the relevant tax forms if the Seller falls under the definition of a "foreign person" within applicable law.
The portion of the Sales Price not payable in cash by the Buyer amounts to $ and it will be paid by one or more third party mortgage loans.
The primary grounds for exemption is if the Seller furnishes an affidavit to the Buyer stating that the Seller is not a "foreign person" within applicable law along with the Seller's United States taxpayer identification number or if the Sales Price does not exceed $300,000.00 and the Property will be used as the Buyer's residence.
This Free Residential Purchase Agreement Template for Word contains seventeen sections: Property Description, Sales Price, Deposit, Method of Payment, Inspections, Title Evidence, Assessments and Taxes, Prorations, Closing Day, Personal Property, Occupancy, Mediation, Heirs and Successors, Financials and Credit Report, Government Requirements, No Commission, and Effective Date.
The Buyer must withhold three and one third percent of the total Sales Price as state income tax and deliver the amount to the State Franchise Board in certain real estate transactions.