SELLING MAIN EXTENSION CONTRACTS
To Receive An Offer
To Sell one or more Main Extension Contracts, we will need some information:
- Water Company
- Contract Reference Number
- The un-refunded balance, and
- Annual payment.
If you do not have the contract information, then with your authorization, we will obtain the information from the water company and present our offer. There is no cost for this service.
There are no hidden fees or obligations associated with receiving an offer.
Offer Acceptance and Transaction Steps
Once our letter offer is accepted, we will prepare a Purchase and Sale Agreement and the Assignment Transfer forms.
The signed Purchase and Sale Agreement is used to open an Escrow for the transaction.
The Seller sends to the Escrow company three types of documents:
- Signed Escrow Instructions.
- Signed Purchase and Sale Agreement.
- Signed original (wet ink signature) Refund Contract Assignments.
Closing
The sale price is released to the Seller from Escrow at the closing. Closings are expected to occur within 30 days or less. We pay for the cost of escrow.
Main Extension Contracts are transferred via an assignment. The assignment is submitted to the water company who countersigns the assignment, acknowledging the new owner / assignee as the party to whom the annual payment will be made.
An original fully executed assignment is mailed to all parties by the Water Company after their acknowledgement.