Posted by Jk on March 27, 2004 at 18:50:56:
I would recommend using the Equity Purchase agreement. California law AB1695 is very strict regarding the size of the type on the contract as well as the disclosures, verbage and waiting period. Failure to do the paperwork right could result in fines and even imprisonment:
http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=civ&codebody=1695
Help: CA 5 days to cancel agreement? - Posted by Louis
Posted by Louis on March 11, 2004 at 07:45:14:
Hi, I am living in the state of california and the foreclosure laws states that I have to give 5 days right to cancel my agreeemnet to the seller who are in foreclosure once the “Notice of Default” has been filled…
What are the differences between equity purchase agreement and Purchase & Sale agreement?
If i want to take it subject to exisiting financing, do i need to have that exact wording at the end of my agreement also? EPA or PSA?
what about short sales? do i need that on my PSA? what about seller deeds to a living trust?
thank you in advance.
Re: Help: CA 5 days to cancel agreement? - Posted by William Bronchick
Posted by William Bronchick on March 11, 2004 at 09:16:53:
The “equity purchase” agreement, which is published by one of the CA forms companies, has the appropriate language. But, you can take any form and add the appropriate disclosures required by CA law. You cannot use a living trust or any other method to get around the required right of recission.