Get Form 9 - Addendum For Inter Alia Mortgages - Fic Gov Bc
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How to fill out the Form 9 - Addendum For Inter Alia Mortgages - Fic Gov Bc online
This guide provides a clear and comprehensive overview of how to fill out the Form 9 - Addendum For Inter Alia Mortgages online. By following the instructions below, users can navigate the form effectively and ensure accurate submission.
Follow the steps to complete the form successfully.
- Click 'Get Form' button to obtain the form and open it in the editor.
- Select the type of property from the options provided: existing buildings, single family residential, multifamily, industrial, commercial, or other. If applicable, describe the vacant land or construction project.
- Indicate whether property taxes are in arrears by selecting 'Yes' or 'No'. If yes, provide the amount of taxes that are in arrears.
- If an appraisal has been obtained, record the name and address of the appraiser and indicate if the valuation is current.
- For prior encumbrances, provide information for each lender or charge holder, including the priority, amount owing, and if in default.
- Finally, calculate and fill out the financials including the total amount owing, maximum indebtedness, mortgage total, property values, and loan-to-value ratio.
- Once you have completed the form, save your changes and choose to download, print, or share the finalized document as needed.
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When a property is sold 'subject to existing mortgage,' it means that the buyer takes over the property while the current mortgage remains in place. This arrangement allows the buyer to assume responsibility for the payments without officially assuming the mortgage. In this context, understanding the implications of the Form 9 - Addendum For Inter Alia Mortgages - Fic Gov Bc can help clarify any obligations you may have. It's essential to consult with a legal expert to navigate this process smoothly.
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