Purchase Terms: Purchase Price: $600,000 Earnest Money Deposit: $10,000 Financing: Conventional loan with 20% down payment Loan Contingency: 21 days Appraisal Contingency: 17 days Inspection Contingency: 14 days Close of Escrow: 45 days from acceptance Closing Costs: Split equally between buyer and seller Additional Terms: Home warranty to be provided by seller, covering major systems for one year. Seller to provide termite inspection and complete any necessary repairs. All appliances included in the sale. Additional Provisions: Buyer reserves the right to walk through the property 24 hours before the close of escrow. Seller agrees to vacate the property no later than the close of escrow. Both parties agree to abide by all local and state real estate laws and regulations.

Purchase Terms: Purchase Price: $600,000 Earnest Money Deposit: $10,000 Financing: Conventional loan with 20% down payment Loan Contingency: 21 days Appraisal Contingency: 17 days Inspection Contingency: 14 days Close of Escrow: 45 days from acceptance Closing Costs: Split equally between buyer and seller Additional Terms: Home warranty to be provided by seller, covering major systems for one year. Seller to provide termite inspection and complete any necessary repairs. All appliances included in the sale. Additional Provisions: Buyer reserves the right to walk through the property 24 hours before the close of escrow. Seller agrees to vacate the property no later than the close of escrow. Both parties agree to abide by all local and state real estate laws and regulations.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...

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