New Homes definition

New Homes means those Homes which have (a) been purchased by Borrower from either the original manufacturer of the Home or a dealer of such Homes in the ordinary course of such dealer’s business, (b) never been titled, occupied, or transported, installed, and setup for occupancy, and (c) been manufactured less than or equal to one (1) year prior to the date of the Advance Request related to such Home. “Total Cost” means the Purchase Price (as defined herein) of the Home, plus transporting, delivery, installation and set up costs (including, without limitation, utility hook-ups, blocking, skirting, certificates of occupancy and such other costs approved by Lender), but excluding any and all repair, refurbishment, and rehab costs, whether material or labor costs, incurred by Borrower in connection with such Home. “Purchase Price” means the invoice amount or other amount actually paid by Borrower for the Home, less all discounts applicable to the sale and all rebates payable to Borrower or its Affiliates resulting from Borrower’s purchase of the Home. “Manufacturer’s Invoice Cost” means the total amount of the manufacturer’s invoice, less all discounts, rebates and other reductions in the purchase price for each Home to be purchased, and excluding the transportation, delivery, destination, shipping, and set up costs of the Home.
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Examples of New Homes in a sentence

  • The Premier Guarantee for New Homes has agreed with the Royal Institution of Chartered Surveyors (RICS) that disputes referred to an Independent Expert or Arbitrator may be resolved with fixed maximum costs.

  • YRE acknowledges that some new homes may be available via the Listings API, but YRE is under no obligation to re-classify those homes or make efforts to have those listings appear in the New Homes section of YRE.

  • Services Ltd also acts as the Scheme Administrator for the Premier Guarantee for New Homes.

  • Such inspections are carried out to satisfy the Underwriter that the Housing Unit represents a normal risk for insurance under the Premier Guarantee for New Homes.

  • Zillow will be limited to selling display advertising in the Homes for Sale Section and New Homes Section of YRE unless the Parties mutually agree otherwise.

  • Any person, sole trader, partnership or company who is registered with the Premier Guarantee for New Homes and has registered the New Development and • with whom the Policyholder has entered into an agreement or contract to purchase the Housing Unit on either a Freehold or Leasehold basis.

  • All Housing Units insured by the Premier Guarantee for New Homes are the subject of a system of checks and inspections: • The Developer and the Builder have to comply with Building Regulations and the authorised Building Control Body involved inspects their work.

  • As a Policyholder you have a number of options for making complaints about your Premier Guarantee for New Homes policy.

  • In the period to 2021 invest at least £150m in the Fareham/Gosport transport and housing package (including £9.6m from New Homes Bonus).

  • X X R/D Colors New Homes – manufacturer’s standard color selections are acceptable.

Related to New Homes

  • Multifamily housing means housing accommodations designed as a residence for more than 1 family.

  • Apartment shall have the meaning ascribed to it in Recital H;

  • Multifamily dwelling means a structure that contains more than one separate residential dwelling unit, which is used or occupied, or is intended to be used or occupied, in whole or in part, as the home or residence of one or more persons.

  • Townhouse means a building, other than a plex, stacked townhouse or apartment building, containing at least 3 dwelling units, each dwelling unit separated vertically from the other by a party wall and each dwelling unit having a separate entrance to grade;

  • Cemetery means 1 or a combination of more than 1 of the following: