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Real estate question what is schedule B

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  • Aug 24th, 2007 1:49 pm
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Mar 16, 2005
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Hamilton

Real estate question what is schedule B

I am thinking about purchasing my 1st house and have not contacted an agent yet, just looking on the mls. I was wondering what they mean when they say schedule B to accompany all offers? I tried Google but did not end up finding anything. It's probably a simple question that everyone knows the answer to by I am lost.
Thanks
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Deal Addict
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Dec 24, 2002
3950 posts
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Lauralai wrote:
Aug 23rd, 2007 11:24 pm
I am thinking about purchasing my 1st house and have not contacted an agent yet, just looking on the mls. I was wondering what they mean when they say schedule B to accompany all offers? I tried Google but did not end up finding anything. It's probably a simple question that everyone knows the answer to by I am lost.
Thanks
Its a schedule provided by the listing brokerage - you will have a schedule A - with stuff such as conditions on inspection financing etc, Schedule B will have things such as disclosure the listing brokerage is making , typically will have info regarding deposit holder interest. Nothing to be worried about
http://www.heatware.com/eval.php?id=14378



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Jul 18, 2003
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Etobicoke
Schedule B specifies the interest to be paid on the deposit. There's nothing fancy.

What this means is that there may be a requirement for large deposit or long closing date (because interest on deposit less than $50 is not refunded.)

As for disclosures, that's highly optional. Some sellers will include it but it is used mainly as selling feature (shows that the home is in great condition). You can also request one but sometimes it comes back as "to the best of seller's knowledge, xxx is in good condition". Which is as good as saying nothing.
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