Closing Papers on Resale Question

[Yankee626]

Should Banked Points be mentioned as banked on the Contract ?

 

[Element_of_Fun]

Mine didn't in the points status blocks, but did include an extra line that read "X no. of points are banked that expire 11/2021." I've replaced actual data with an X. Hope that helps!

 

[Matty B13]

I think it depends on the Broker and how they write contracts, I've had it with & without it written into the contract.

 

[Sandisw]

Any time I have bought or sold contracts, it did indeed include the actual status of points. So, banked were always listed.

 

[carseatguru]

This is what my contract said about banked points:
SPECIAL CLAUSES (BANKED POINTS, CURRENT POINTS, ETC.) BUYER TO RECEIVE
50 BANKED POINTS FROM THE 2020 ALLOCATION, WHICH NEED TO BE USED BY 8/1/22, 50 POINTS FROM THE 2021
ALLOCATION AND ALL POINTS FROM CLOSING FORWARD. IF THERE ARE LESS POINTS THAN WHAT IS STATED IN THIS
CLAUSE AT TIME OF TRANSFER, THERE WILL BE A $20 PER POINT COMPENSATION FROM SELLER TO BUYER OR BUYER
MAY CANCEL THE CONTRACT.