Common Contracts
1 similar Real Estate Transaction contracts
Reserved]Real Estate Transaction • May 5th, 2020
Example 6 Gross proceeds (contingencies). K, an individual, sells an unencumbered apart- ment building to L for $500,000, payable at closing, plus an amount equal to 2% of gross rents from the apartment building for each of the next 5 years, the contingent payments to be made annually with adequate stated in- terest. The agreement provides that the maximum amount K may receive (including the downpayment but excluding the interest) is $600,000. Under paragraph (i)(3)(ii) of this section the real estate transaction is a ‘‘contingent payment transaction.’’ Under paragraph (i)(3)(iii) of this section, the max- imum amount of gross proceeds determined by assuming all contingencies are satisfied is
