Contracts and Title TransferAfter
the purchase price and conditions have been agreed upon, the closing
process is expedited through the offices of Lawyer Kenneth Allen, QC
(Queen’s Counsel) in
1.
Copies
of the following documents have been deposited with the offices of Lawyer
Kenneth Allen (QC) the : a.
Copies of Title(s)
to the properties under auction, showing clear
ownership. b.
Proof
of up-to-date payment of all property taxes. 2. The buyer will be asked to wire a ten percent (10%) deposit of the purchase price into an escrow account at the law offices of Kenneth Allen, QC (or other mutually agreed upon account) as per instructions on a confirming e-mail. 3.
The
buyer will receive a formal purchase agreement by fax with an actual copy
of the purchase contract sent via FedEx. 4.
The
purchase agreement will be executed as per instructions and returned by
FedEx to Lawyer Kenneth Allen’s office. 5.
A
closing will be arranged with the office of Lawyer Kenneth Allen,
QC. It is anticipated that closing can take place 30 days following
the verbal purchase agreement. 6. Non-Montserratians are required to apply for an Alien Landholder’s License. During the period prior to closing, Lawyer Allen’s office will submit the required documentation to obtain an Alien Landholder’s License. For additional information on obtaining an Alien Landholding License and related costs, please consult with the Listing Agent or Lawyer Kenneth Allen’s office. 7.
The
total cost of the real-estate transaction will include the purchase price
and any applicable closing costs (the closing costs are approximately 15% of purchase price
including Alien Landholder’s License fee). 8. The Deposit shall not be refundable except in the case of a material default by Seller under the Purchase Agreement.
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