House Hunting Advice
Mar 29th 2009, 5:28 pm
#16
Forum Regular
Joined: Mar 2009
Posts: 104
Re: House Hunting Advice
good idea lorna my contribution for the moment is
compromesso=a commitment to buy a property you can decide in agreement with the vendor how long this is going to be before you reach the final act of sale (i need to look the word up for this) anyway the compromesso is usually about ten percent of the total cost of the property and it is a legally binding agreement with the vendor that you are going to buy the property. if you pull out of the agreement then you forfeit the amount. if the vendor pulls out of the agreement they have to pay you double the amount. the compromesso can be for six months or a year or six weeks but once you have agreed the length of time you have to have your funds ready to complete the act of sale. the compromesso is different from a deposit. you can have a property taken off the market by paying a deposit. just a token amount say 1000 euros and the vendor has to hold the property for you until the date set for the compromesso.
compromesso=a commitment to buy a property you can decide in agreement with the vendor how long this is going to be before you reach the final act of sale (i need to look the word up for this) anyway the compromesso is usually about ten percent of the total cost of the property and it is a legally binding agreement with the vendor that you are going to buy the property. if you pull out of the agreement then you forfeit the amount. if the vendor pulls out of the agreement they have to pay you double the amount. the compromesso can be for six months or a year or six weeks but once you have agreed the length of time you have to have your funds ready to complete the act of sale. the compromesso is different from a deposit. you can have a property taken off the market by paying a deposit. just a token amount say 1000 euros and the vendor has to hold the property for you until the date set for the compromesso.
