Reservation Instrument Form. This is a California form and can be use in Bureau Of Real Estate Statewide.
Tags: Reservation Instrument, RE 612, California Statewide, Bureau Of Real Estate
■ (hereinafter 223Subdivider224) acknowledges receipt from (hereinafter 223Potential Buyer224) of of the sum of $ for the reservation of in , County of , State of California. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ place the funds and a signed copy of this document in the following escrow depository: ESCROW ■ ■CC ITY ■S S TATE ■ ZIP ■COCO DE ■ TELEPH ■OO NE NUMBE ■RR■ THIS IS NO■tT A■nN ■OOFFER OR CO■ntNTRA■ctCT ■tTO PUR■cCHASE OR ■SSELL SUBDIVI■sSION■sS 1. ■ This instrument does not create a contractual obligation to buy or sell on the part of either Subdivider or Potential Buyer. Either party may, at any time, cancel this reservation instrument without incurring liability to the other. In the event of cancellation by either party, all funds received towards this reservation will be returned to the potential buyer within two business days.2. ■ If Potential Buyer so requests by completing appropriate instructions below, subdivider will make arrangements with the escrow depository for the earning of interest on Potential Buyer222s funds. $ will be deducted by escrow depository from interest earned as a charge for providing the service to Potential Buyer. The balance of the interest earned will be paid to Potential Buyer or credited to his/her account.3. ■ By initialing here , Potential Buyer agrees to the payment of charges as set forth above and requests that the funds be placed into an interest bearing account as follows:4. ■ CAVEAT: If the funds are to be placed into an interest bearing account: ■ (a) ■ Escrow depository will not deposit funds into the account on Potential Buyer222s behalf 227 and therefore interest will ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ (b) ■ There may be a delay in returning the funds to Potential Buyer on his request. ■ (c) ■ There may be an interest penalty in the case of an early withdrawal from the account. ■ (d) ■ If after Potential Buyer has received a Conditional Subdivision Public Report or a Final Subdivision Public Report for this subdivision, he enters into a contract with Subdivider to purchase the reserved subdivision interest, the deposit plus interest earned on the deposit, if any, may be applied toward purchase of the subdivision interest with the express authorization of Potential Buyer.5. ■ The price and other terms of purchase of the subdivision interest will be those set forth in a purchase contract if Potential Buyer enters into one after receiving a copy of the Conditional Subdivision Public Report or the Final Subdivision Public Report.(Lot or Unit Number)(Address)(Name of Subdivision)(Subdivider)(Name)(Amount)(County)N ■ameAME OF ■SubdiSUBDI V ■ideIDE R ■SiSI G ■natuNATU R ■eE OF AG ■entENT D ■ateATE ■SiSI G ■natuNATU R ■eE OF PO ■tentialTENTIAL B ■uyeUYE R ■ D ■ateATE ■SiSI G ■natuNATU R ■eE OF PO ■tentialTENTIAL B ■uyeUYE R ■ D ■ateATE ■ STATE OF CALIFORNIA■DDEPARTMENT OF ■RREAL ■EE■sSTATERESE■rRVATION ■IINST■rRUMENT RE 612 (Rev. 10/15) American LegalNet, Inc. www.FormsWorkFlow.com