NEW MORTGAGE. The full purchase price upon execution and delivery of Warranty Deed, contingent upon Xxxxx's ability to obtain a type (year) mortgage in the amount of % of the sale price bearing interest at a rate not to exceed % per annum (rate at time of loan application), on or before the date the sale is to be closed. Xxxxx agrees to apply for a mortgage loan, and pay all fees and costs customarily charged by Xxxxx's lender to process the application, within days after the Effective Date, not to impair the Buyers' credit after the date hereof, and to accept such loan if offered. Should any part of the new mortgage be FHA/VA insured, (check one) Seller Buyer, will agree to pay an amount not to exceed $ , representing repairs required as a condition of financing. Exceptions: π SELLER FINANCING (check one). π Land Contract π Purchase Money Mortgage In the case of seller financing, Xxxxx agrees to provide Seller with a credit report within 72 hours after the Effective Date. If the credit report is unacceptable to the Seller, the Seller shall have the right to terminate this offer within 48 hours of Seller's receipt, or if Buyer fails to provide said credit report to Seller within the time frame allotted, the Seller shall have the right to terminate this offer within 48 hours. Xxxxxx is advised to seek professional advice regarding the credit report. $ upon execution and delivery of form, a copy of which is attached, wherein the balance of $ will be payable in monthly installments of $ or more including interest at % annum, interest to start on date of closing, and first payment to become due thirty (30) days after date of closing. The entire unpaid balance will become due and payable months after closing. Exceptions:
Appears in 5 contracts
Samples: Purchase Agreement, Escrow Agreement, Purchase Agreement
