Closing Guarantee Sample Contracts
RML Closing GuaranteeClosing Guarantee • March 28th, 2024
Residential Mortgage, LLC (“RML”) agrees to pay the Seller the earnest money amount under the purchase contract, up to $10,000.00, should this transaction with subject property described below not close with RML due to financing, excluding property related issues such as, but not limited to, an appraisal or clear title, and excluding significant changes in borrowers’ circumstances such as loss of job or changes in credit or an increase in liabilities that affects their ability to qualify. RML will pay the Seller within thirty (30) business days after the transaction has been determined it will not close due to financing.
SPECIMEN FORMClosing Guarantee • December 11th, 2018
THIS DOCUMENT IS A FORM AGREEMENT PREPARED BY THE MONROE COUNTY BAR ASSOCIATION REAL ESTATE COUNCIL. IT IS INTENDED TO BE A GENERIC FORM TO BE TAILORED TO THE NEEDS OF THE PARTIES TO SPECIFIC TRANSACTIONS. PARTIES SHOULD CONSULT WITH THEIR ATTORNEYS BEFORE USING THIS FORM. MATERIAL ADDITIONS TO THIS CLOSING GUARANTEE MUST BE UNDERLINED, PLACED IN BOLD OR ALL CAPITAL LETTERS, OR OTHERWISE CLEARLY INDICATED, AND MATERIAL DELETIONS MUST BE SHOWN WITH A SINGLE STRIKE THROUGH OR OTHERWISE CLEARLY INDICATED.