Additional Down Payment Sample Clauses
The Additional Down Payment clause specifies an extra amount of money that the buyer must pay upfront, in addition to the standard down payment, as part of the purchase price for a property or asset. This clause typically outlines the timing, method, and conditions under which the additional payment must be made, such as upon removal of contingencies or at a certain milestone in the transaction process. Its core practical function is to provide the seller with greater financial assurance and commitment from the buyer, reducing the risk of default and demonstrating the buyer's seriousness in completing the transaction.
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Additional Down Payment. If ▇▇▇▇▇'s lender's appraised value of the Property is less than the Purchase Price, ▇▇▇▇▇ agrees to pay up to $ in additional funds towards ▇▇▇▇▇’s down payment. Buyer represents that Buyer has sufficient funds to close this sale in accordance with the terms of this Agreement.
Additional Down Payment. If Buyer's lender's appraised value of the Property is less than the Purchase Price, Buyer agrees to pay up to $ in additional funds towards Buyer’s down payment. Buyer represents that Buyer has sufficient funds to close this sale in accordance with the terms of this Agreement. Initials: BUYER: DATE: SELLER: DATE: BUYER: DATE: SELLER: DATE: WRE Form 41 Rev. 06/2017 3. □ NWMLS Form 22A, Paragraph 7, Appraisal Less than Sale Price. NWMLS Form 22A is modified as follows: Paragraph 7 of NWMLS Form 22A Financing Contingency, Appraisal Less than Sale Price, is deleted in its entirety. Buyer may not terminate this Agreement or obtain a refund of the ▇▇▇▇▇▇▇ Money, if any, in the event Buyer is unable to obtain the Loan and the sole reason for Buyer being unable to obtain the Loan is due to Buyer's lender's appraisal of the Property being less than the Purchase Price.
Additional Down Payment. If ▇▇▇▇▇'s lender's appraised value of the Property is less than the Purchase Price, ▇▇▇▇▇ agrees to pay up to $ in additional funds towards ▇▇▇▇▇’s down payment. Buyer represents that ▇▇▇▇▇ has sufficient, non-contingent funds to make this additional down payment. □ NWMLS Form 22A, Paragraph 7, Appraisal Less than Sale Price. NWMLS Form 22A is modified as follows: Paragraph 7 of NWMLS Form 22A Financing Contingency, Appraisal Less than Sale Price, is deleted in its entirety. Buyer may not terminate this Agreement or obtain a refund of the ▇▇▇▇▇▇▇ Money, if any, in the event Buyer is unable to obtain the Loan and the sole reason for Buyer being unable to obtain the Loan is due to ▇▇▇▇▇'s lender's appraisal of the Property being less than the Purchase Price. □ NWMLS Form 35P, Pre-Inspection. Buyer has completed or waives the right to conduct a pre-inspection.