Amended Value Sale definition

Amended Value Sale means the sale of a Home by an Employee to Coldwell Banker at a price equal to a bona fide third-party that is (i) higher than the Appraised Value or (ii) acceptable to the Employee, and approved by Coldwell Banker (the “Amended Value”).

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Amended Value Sale means the sale of a Home by an Employee to Cendant Mobility at a price equal to a bona fide third-party offer that is (i) higher than the Appraised Value or (ii) acceptable to the Employee, and approved by Cendant Mobility (the “Amended Value”).

Amended Value Sale means the Employee finds a UC for his/her home during the offer period at an acceptable bona fide price. In the event the Employee is successful, Supplier will acquire the Home from the Employee at the Purchase Offer and consummate the sale with the outside UC. “Appraised Value” means the value for the Employee’s Home established per UC policy. “Appraised Value Sale” means the purchase and resale of a Home based upon its Appraised Value. “Bona Fide” means an offer that under local custom and practice: (i) contains a sufficient ▇▇▇▇▇▇▇ money deposit; (ii) has a reasonable closing date; and (iii) contains no unusual or unreasonable terms. “UC Value Option Sale” means the purchase and resale of a Home for the value established by a bona fide offer from an outside UC. “Direction Letter” means a letter signed on behalf of UC by an Authorized Initiator to (1) make an Equity Loan to an Employee in an amount in excess of the allowable amount of the Employee's Equity in the Home; or (2) make an Equity Loan to an Employee notwithstanding the fact that the Employee has not yet executed an Equity Loan Agreement and Promissory Note; or (3) make an Equity Funding to an Employee for the full Appraised Value of the Home with instructions to Supplier to apply the excess over the amount of the Equity to pay for any existing liens on the Home; or (4) enter into a Contract of Sale with respect to the Home for a purchase price in excess of the Employee's Equity in the Home or (if all existing liens on the Home are to be paid off in advance of the sale of the Home) in excess of the Appraised Value of the Home (in the case of an Appraised Value Sale), pursuant to which UC shall agree to be obligated to Supplier for the full amount of the Equity Funding in accordance with the terms of this Agreement. “Equity” means the following calculation that is performed by Supplier using information that is provided by/verified by the Employee: The purchase price of the Employee’s home that is set forth in a standardized form of “Contract of Sale”, herein defined to mean a document as issued by Supplier to Employee to effectuate the sale of the Employee’s home to Supplier, net of any Employee mortgage or other recorded Employee debt burdening the Employee home. Equity may be advanced to the Employee by either Supplier or UC as may be authorized pursuant to the terms and conditions of this Agreement. “Equity Advance” means the amount of funds paid to an Employee pursuant to an Equity Loan or ...

Examples of Amended Value Sale in a sentence

If the Employee locates a buyer for the Home and, contrary to the procedures applying to the Amended Value Sale, has nevertheless executed a binder, contract, or other agreement with that buyer, or has accepted any payment in connection therewith, Cartus will accept an assignment from the Employee of the sale to the buyer and close the sale to the buyer.
As agreed between the Executive and the Company, a residence of the Executive will be eligible for the Amended Value Sale program (as defined in the relocation policy) and a residence of the Executive may be eligible for the Guaranteed Purchase benefit should it not sell within 90 days, as provided in the relocation policy.
Pleas note: In the case of an Amended Value Sale, regardless of whether or not the relocation firm is able to complete the sale (i.e. close the sale) to the buyer, your sale to the relocation firm is considered final once it it determined that the buyer is qualified and all contracts with the buyer have been duly executed.
If the Employee locates a buyer for the Home and, contrary to the procedures applying to the Amended Value Sale, has nevertheless executed a binder, contract, or other agreement with that buyer, or has accepted any payment in connection therewith, Cendant Mobility will accept an assignment from the Employee of the sale to the buyer and close the sale to the buyer.
The Executive shall have six months to make his election to sell his Pennsylvania residence under the Appraised Value Program or the Amended Value Sale Program, whichever is applicable.
When use of this program leads to the ---------------------------------- sale of the home, it is billed at $750 per property and is treated as an Amended Value Sale.
The Sale Bonus Program provides for an incentive payment if you find a buyer and conclude an Amended Value Sale.

More Definitions of Amended Value Sale

Amended Value Sale means the sale of a Home by an Employee to Cartus at a price equal to a bona fide third-party offer that is (i) higher than the Appraised Value or (ii) acceptable to the Employee, and approved by Cartus (the “Amended Value”). “Appraised Value” shall mean the average of two independent appraisals from a list of appraisers provided by Cartus. If the two appraisals vary by more than five percent (5%) of the higher of the two appraisals then a third independent appraisal shall be ordered and the Appraised Value shall be computed by averaging the two closest appraisals. If the three appraisals are equidistant from each other, the Appraised Value shall be computed by averaging all three appraisals. “Appraised Value Sale” shall mean the sale of a Home by the Employee to Cartus at a price equal to the Home's Appraised Value. “Assigned Sale” shall mean assignment by the Employee to Cartus of an executed third party contract for the sale of the Employee’s Home. “Authorization” shall mean the Client’s direction in writing or electronically that an Employee is eligible to receive services under this Agreement. “Cancellation” shall mean the withdrawal by the Client of a bona fide Authorization. “Employee” shall mean any individual designated by the Client to receive services, or for Home Sale Services, also any other person to the extent that such person has an interest in the Home of the designated individual. “Equity Payment” shall mean payment of the Employee's equity in the Home by Cartus. “Expiration” shall mean the rejection of an Offer by an Employee, or the failure of the Employee to submit to Cartus all required documentation necessary to purchase the Home prior to the time frame described in the Offer. “Home” shall mean improved real estate: (i) which is owned and used by an Employee as a principal year-round one or two family residence, including condominiums but excluding cooperative housing and mobile homes; (ii) which contains acreage within the norm and zoning limits for the locale or neighborhood; (iii) with respect to which insurance is available at standard rates for normal hazards of fire and extended coverage; (iv) with respect to which any leases can be terminated by Cartus with no more than sixty (60) days' notice to the tenant; (v) whose value, as determined hereunder, does not fall below One Hundred Thousand Dollars ($100,000) or exceed Seven Hundred Fifty Thousand Dollars ($750,000); (vi) which is not situated on or near and does not contain an...