All Topics / Legal & Accounting / extended settlement

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  • Profile photo of zenqzenq
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    @zenq
    Join Date: 2005
    Post Count: 26

    OK, I have negotiated an extended settlement on a land purchase with the owner, which they have agreed to, but they want the deposit to go straight to them rather than a trust account. Can this be done, or as an alternative, could I make it a $1 deposit as consideration and place the remaining deposit in her account as a goodwill gesture. She is being really accomodating and I really want to seal the deal, so anything that keeps her smiling is good.
    What would suit me is a 1$ deposit to lock her into the contract, with me paying 10% @ 3 months and balance at 12 months (or longer if she will accept).

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