Presold Home definition

Presold Home means a Home that is subject to:
Presold Home means a Home that is subject to the following requirements (collectively “Presold Home Requirements”):
Presold Home means a Unit (i) for which a bona fide, non-contingent purchase contract has been signed or (ii) for which a contingent contract has been signed within the past sixty (60) days, in either case for which an earnest money deposit has been made in an amount not less than two percent (2.0%) of the deposit.

Examples of Presold Home in a sentence

  • Borrower shall provide Lender with a copy of the Purchase Contract if any of the Homes to be constructed with the requested Home Loan is a Presold Home.

  • As to any Presold Homes, said Homes were in compliance with all requirements for a Presold Home as of the date of inclusion in the Borrowing Base as Presold Homes and remain in compliance as of the date hereof.

  • The number of Presold Home Loans shall be limited to the available Construction Loan Amount.

  • In the event that the original Home Loan Maturity Date is extended pursuant to this Section, Borrower shall pay to Lender in cash or immediately available funds a non-refundable extension fee equal to .063% of the Maximum Allowed Advance for each Presold Home within two (2) days from such extension.


More Definitions of Presold Home

Presold Home means a Home that is subject to a Purchase Contract without contingencies. In the event any Presold Home ceases to constitute a Presold Home for any reason, then, any such Presold Home shall automatically become a Spec Home, and Borrower agrees to immediately comply with all conditions, restrictions and limitations applicable to a Spec Home. The Maximum Allowed Advance for any Spec Home or Model Home shall not be increased by reason of such Home becoming a Presold Home, nor decreased by reason of a Presold Home becoming a Spec Home or Model Home.
Presold Home means a Unit (i) for which a bona fide, non-contingent purchase contract has been signed or (ii) for which a contingent contract has been signed within the past sixty (60) days, in either case for which an xxxxxxx money deposit has been made in an amount not less than two percent (2.0%) of the deposit.

Related to Presold Home

  • Abbeyfield Home means an establishment run by the Abbeyfield Society including all bodies corporate or unincorporated which are affiliated to that society;

  • Family day home means a child day program offered in the residence of the provider or the home of any of the children in care for one through 12 children under the age of 13, exclusive of the provider's own children and any children who reside in the home, when at least one child receives care for compensation. The provider of a licensed or registered family day home shall disclose to the parents or guardians of children in their care the percentage of time per week that persons other than the provider will care for the children. Family day homes serving five through 12 children, exclusive of the provider's own children and any children who reside in the home, shall be licensed. However, no family day home shall care for more than four children under the age of two, including the provider's own children and any children who reside in the home, unless the family day home is licensed or voluntarily registered. However, a family day home where the children in care are all related to the provider by blood or marriage shall not be required to be licensed.

  • Registered family day home means any family day home that has met the standards for voluntary registration for such homes pursuant to regulations adopted by the Board and that has obtained a certificate of registration from the Commissioner.

  • Family home or "family residence" means the location or portion of a location where the applicant and his or her family reside, and may include basements and attics. It does not include other structures that are separate from the home but are considered part of the overall premises, such as adjacent apartments, unattached basements in multi-unit buildings, unattached garages, and other unattached buildings.

  • Adult family home means a home licensed under chapter 70.128

  • Family day care home means a unit registered under Title 5, Subtitle 5 of the Family Law Article.

  • Boarding home means a privately owned and operated home for the boarding and lodging of individuals which is approved by the Department of Juvenile Justice or the cabinet for the placement of children committed to the department or the cabinet;

  • Private home means a private residence in which the licensee permanently resides, which residency is not contingent upon caring for children or employment by a child placing agency. Private home includes a full-time foster family home, a full-time foster family group home, a group child care home, or a family child care home, as follows:

  • Multifamily dwelling means a structure that contains more than one separate residential dwelling unit, which is used or occupied, or intended to be used or occupied, in whole or in part, as the home or residence of one or more persons.

  • stacked townhouse means a building, other than a townhouse or apartment building, containing at least 3 dwelling units, each dwelling unit being separated from the other vertically and/or horizontally, and each dwelling unit having an entrance to grade shared with no more than 3 other units;

  • Residential care home or “RCH” means a residential care home as defined and licensed under the Residential Care Homes (Elderly Persons) Ordinance (Cap. 459), or as defined and issued with a licence or certificate of exemption under the Residential Care Homes (Persons with Disabilities) Ordinance (Cap. 613), or the boarding section of a special school subvented under the Education Bureau, or the residential facilities of the Skills Centre (Tuen Mun) of Vocational Training Council, or a nursing home as referred to in the Hospitals, Nursing Homes and Maternity Homes Registration Ordinance (Cap. 165) which provides residential services for persons aged 60 or above in Hong Kong.

  • Single-family dwelling means a private residence provided with sleeping and cooking facilities intended for domestic use and in which the occupants live as a single housekeeping unit that is not part of a Multiple Dwelling;

  • Mobile home means any dwelling that is designed to be made mobile, and constructed or manufactured to provide a permanent residence for one or more persons, but does not include a travel trailer or tent trailer;

  • funeral home means a building or structure with facilities for the preparation of dead persons for burial or cremation, for the viewing of the body and for funeral services;

  • Multi-family dwelling means a structure that contains more than one separate dwelling unit, which is used, or occupied, or intended to be used or occupied, in whole, or in part as the home or residence of one or more persons.

  • Single-family dwelling unit means a structure that is usually occupied by just one household or family and for the purposes of this Policy is expected to generate an average of 250 gallons per day of wastewater.

  • Independent foster home means a private family home in which any child, other than a child by

  • Health Home means an individual Provider, team of health care professionals or health team that meets all federal requirements and provides the following six (6) services to persons with one (1) or more specified chronic conditions: (i) comprehensive care management; (ii) Care Coordination and health promotion; (iii) comprehensive transitional care/follow-up; (iv) Member and family support; (v) referral to community and social support services; and (vi) use of Health Information Technology (HIT) to link services, if applicable. Health Information Exchange (HIE) means the transmission of health-care-related data among facilities, health information organizations and government agencies according to national standards. HIE is also an entity that provides services to enable the electronic sharing of health information. Health Information Technology (HIT) means the area of information technology involving the design, development, creation, use and maintenance of information systems for the health care industry.

  • Floodplain or flood-prone area means any land area susceptible to being inundated by water from any source. See "Flood or flooding."

  • Manufactured Home Park or Subdivision means a parcel (or contiguous parcels) of land divided into two or more manufactured home lots for rent or sale.

  • Nursing home means that term as defined in section 20109 of the public health code, 1978 PA 368, MCL 333.20109.

  • Foster family home means a private home in which children are placed for foster family care under supervision of the cabinet or a licensed child-placing agency;

  • Flood or flooding means a general and temporary condition of partial or complete inundation of normally dry land areas from:

  • Foster home means the place of residence of any natural person in which any child, other than a

  • Family child care home means a private home in which 1 but fewer than 7 minor children are received for care and supervision for compensation for periods of less than 24 hours a day, unattended by a parent or legal guardian, except children related to an adult member of the household by blood, marriage, or adoption. Family child care home includes a home in which care is given to an unrelated minor child for more than 4 weeks during a calendar year. A family child care home does not include an individual providing babysitting services for another individual. As used in this subparagraph, "providing babysitting services" means caring for a child on behalf of the child's parent or guardian if the annual compensation for providing those services does not equal or exceed $600.00 or an amount that would according to the internal revenue code of 1986 obligate the child's parent or guardian to provide a form 1099-MISC to the individual for compensation paid during the calendar year for those services.

  • Residential Dwelling Any one of the following: (i) a detached one-family dwelling, (ii) a detached two- to four-family dwelling, (iii) a one-family dwelling unit in a Xxxxxx Xxx eligible condominium project, (iv) a manufactured home, or (v) a detached one-family dwelling in a planned unit development, none of which is a co-operative or mobile home.