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  • Assumption Process

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    DECA HOMES YAKAL
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    The document outlines the documents and requirements needed for a new buyer to assume ownership of a property from another buyer. It lists loan documents, legal forms, identification requirements, and fees that must be submitted which include a buyer's loan application, deed forms, identification cards, birth and marriage certificates, post-dated checks, photos, attendance of an orientation seminar, and payment of convention, name change and facilitation fees totaling 5% of the property price plus 20,000 and 5,000 fees.

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    The document outlines the documents and requirements needed for a new buyer to assume ownership of a property from another buyer. It lists loan documents, legal forms, identification requirements, and fees that must be submitted which include a buyer's loan application, deed forms, identification cards, birth and marriage certificates, post-dated checks, photos, attendance of an orientation seminar, and payment of convention, name change and facilitation fees totaling 5% of the property price plus 20,000 and 5,000 fees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    15 views1 page

    Assumption Process

    Uploaded by

    DECA HOMES YAKAL
    The document outlines the documents and requirements needed for a new buyer to assume ownership of a property from another buyer. It lists loan documents, legal forms, identification requirements, and fees that must be submitted which include a buyer's loan application, deed forms, identification cards, birth and marriage certificates, post-dated checks, photos, attendance of an orientation seminar, and payment of convention, name change and facilitation fees totaling 5% of the property price plus 20,000 and 5,000 fees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    ASSUMPTION (Buyer to Buyer)

    - (Write a Letter) Subject for approval

    SIGNING LOAD DOCUMENTS (New Buyer)

    - BLAST ( buyers loan application sheet)


    - Buyers Undertaking
    - Deed of Restrictions (ROWHOUSE) 4pcs.
    - Deed of Reconveyance
    - Application for Registration
    - General Power of Attorney
    - Affidavit (4pcs.)
    - Pioneer
    - Contract to sell ( CTS2018 )
    - Deed of transfer of rights with assumption of obligation (6pcs.)
    - Acknowledgement (5pcs.)
    - Affidavit of Waiver and Quitclaim (5pcs.)

    LIST OF REQUIREMENTS (New Buyer)

    - 2 Valid ID’s (3 specimen)


    - 2 Valid ID’s (spouse) if applicable
    - Birth Certificate
    - Marriage Certificate (If applicable)
    - PDC (Post Dated check)
    - 1x1 picture (4pcs w/white background)
    - Orientation Seminar/ Certification ( TTH 2pm or SAT 1pm)
    - Notarized SPA (Special Power of Attorney) if applicable.

    PAYMENT for TRANSACTION

    - Convention Cost: 5% of TCP (total contract price)


    - Change name fee: 20,000
    - Facilitation fee: 5,000 (no receipt)

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