Assuming that payment by check prevents the seller from being able to issue a receipt at the same time as the sale, in this case it will be necessary to write in the act that the credit / debit of the sum in the respective current accounts of the contracting parties will constitute proof of payment https://www.thehouseguysdc.com/we-buy-houses-maryland/
The specified that the receipt contextual to the sale issued by the seller upon receipt of a bank check can certify the mere fact of receipt of the check itself and will never be able to certify the extinction of the obligation relating to the payment of the price.
Many would like to buy a house but not everyone has the necessary liquidity to be able to do so by paying the full amount immediately. Selling a house in installments , in these cases, represents a possible solution.
The sale by installment price is an opportunity that can also be favorable for those who want to sell a house, because it allows you to attract a greater number of potential buyers: among them, even those who are struggling to obtain a bank loan. In fact, to obtain a mortgage, it is necessary to offer certain guarantees: this, especially for the youngest, is not always possible.
Similarly, many regret having to pay rent for a house that will never become their property, and here the sale with deferred payment becomes an interesting option. In this article, we will explain to you what an hire-purchase agreement is and guide you so that you can get to know the positives and negatives of the hire-purchase.
Sale with retention of title
When the buyer is unable to obtain the traditional bank loan , with the help of a notary he can still make his offer to the seller. In practice, a deed of sale with retention of title can be carried out .
What is the priority sale of properties? Simply put, the buyer gets delivery of the asset (house) right away, and can start enjoying it immediately, but ownership is not yet transferred . This only happens once the buyer finishes paying all the installments agreed with the seller