TRU definition
Examples of TRU in a sentence
TRU Cash can’t guarantee the third-party seller will accept the Cash Offer or that Homebuyer(s) will successfully close on the Cash Contract.
Amounts owed to TRU Cash, including accrued rent payments due under the Lease, will be paid at loan closing.
Conditional mortgage approval has been issued with all borrower credit qualification requirements satisfied, subject to no material changes in circumstances, acceptable collateral, clear title, and standard closing conditions (Cherry Creek Mortgage’s TRU Offer program).
The TRU Cash Program is made available to Homebuyer(s) so that they can better compete in the housing market against other offers.
These rent payments are spelled out in the Lease, but here is a simple example: TRU Cash buys the Property from third-party seller and Homebuyer(s) are granted immediate occupancy.
TRU Cash and the Homebuyer(s) acknowledge that TRU Cash would not accept assignment of a Cash Contract without the Home Buyer(s)’ representation to purchase the Property pursuant to the Resale Contract and this Agreement.
TRU Cash doesn’t charge fees; its existence is based on the expectation that Cherry Creek Mortgage will be selected to provide Homebuyer(s) with a mortgage loan.
TRU Cash will execute a separate sales contract (“Resale Contract”) to sell the Property to Homebuyer(s) for an amount equal to the same price at which TRU Cash acquired the Property from the third-party seller (“Purchase Price”).
TRU Cash receives 1) reimbursement of charges incurred to buy and resell the Property, and 2) rent payments associated with Homebuyer(s) permitted occupancy of the Property while financing is pending.
While financing is pending, Homebuyer(s) agree to rent the Property from TRU Cash; a copy of the applicable lease agreement (“Lease”) is attached hereto as Exhibit “A” and incorporated herein by this reference.