Rent Ready Credit. Not more than forty eight (48) hours prior to Closing (“Walk Though Date”), a representative of Buyer and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated on or before five (5) days prior to Closing that Seller has not placed in a “rent ready” condition before the Walk Through Date, Buyer shall receive a credit against the Purchase Price at Closing in the amount of $1,000 per unit. As used herein, “‘rent ready’ condition” shall mean ready for occupancy, equipped with working appliances, cleaned and freshly painted, if applicable.
Appears in 3 contracts
Samples: Agreement of Purchase and Sale (Resource Real Estate Investors 7, L.P.), Agreement of Purchase and Sale (Resource Real Estate Investors 7, L.P.), Agreement of Purchase and Sale (Resource Real Estate Investors 7, L.P.)
Rent Ready Credit. Not more than forty eight (48) hours prior to Closing (“Walk Though Date”), a representative of Buyer and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated on or before five (5) days prior to Closing that Seller has not placed in a “rent ready” condition before the Walk Through Date, Buyer shall receive a credit against the Purchase Price at Closing in the amount of $1,000 750 per unit. As used herein, “‘rent ready’ condition” shall mean ready for occupancy, equipped with working appliances, cleaned and freshly painted, if applicablenecessary.
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (Resource Real Estate Investors 6 LP), Agreement of Purchase and Sale (Resource Real Estate Investors 6 LP)
Rent Ready Credit. Not more than forty eight two (482) hours business days prior to Closing (“Walk Though Date”), a representative of Buyer and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated on or before five (5) days prior to Closing that Seller has not placed in a “rent ready” condition before the Walk Through Date, Buyer shall receive a credit against the Purchase Price at Closing in the amount of $1,000 1,500 per unit. As used herein, “‘rent ready’ condition” shall mean ready for occupancy, equipped with working appliances, cleaned and freshly painted, if applicablenecessary.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Resource Real Estate Opportunity REIT II, Inc.)
