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When it comes to buying or selling a property, there are certain terms that are commonly used and can be confusing to those who are not familiar with the real estate industry. Two terms that often cause confusion are “sold subject to contract” and “under offer”. While these terms may seem interchangeable, they actually have different meanings.

Sold Subject to Contract

When a property is listed as “sold subject to contract”, it means that an offer has been accepted by the seller, but the sale is not yet complete. The property is still technically on the market, and other buyers can still make offers. However, the accepted offer is considered legally binding, and the sale will go ahead as long as certain conditions are met, such as the buyer obtaining a mortgage, the property passing a home inspection, or the completion of necessary paperwork.

Under Offer

When a property is listed as “under offer”, it means that an offer has been made by a buyer, but it has not yet been accepted by the seller. The property is effectively taken off the market while the seller considers the offer. During this time, other buyers cannot make offers on the property, but they can register their interest with the estate agent in case the sale falls through.

Key Differences

The main difference between “sold subject to contract” and “under offer” is that the former is a legally binding agreement, while the latter is not. Once a property is sold subject to contract, the sale will go ahead unless certain conditions are not met. In contrast, a property that is under offer can still be sold to another buyer if the seller decides to accept a better offer.

Another difference is that a property that is sold subject to contract is often marked as “sold” on property portals, while a property that is under offer is not. This can be confusing for buyers who may see a property they are interested in, only to find out that it is already sold subject to contract.

Conclusion

In summary, while “sold subject to contract” and “under offer” may sound similar, they have different meanings in the real estate industry. Sold subject to contract means that an offer has been accepted by the seller and the sale is legally binding, while under offer means that an offer has been made but it has not yet been accepted. It is important for buyers and sellers to understand these terms to avoid confusion during the buying and selling process.

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DOJ Settlement Agreements: A Comprehensive Guide

Settlement agreements are agreements that resolve disputes between two parties without the need for a trial or other adversarial process. In the context of the United States Department of Justice (DOJ), settlement agreements are frequently used to resolve civil or criminal investigations and enforcement actions. A DOJ settlement agreement is a legally binding contract that sets forth the terms and conditions under which the defendant will resolve the investigation or enforcement action and avoid or limit civil or criminal liability.

What is a DOJ settlement agreement?

A DOJ settlement agreement is a contract between the DOJ and a defendant that resolves an investigation or enforcement action. The agreement usually requires the defendant to take specific actions to redress any harm caused by the defendant`s alleged misconduct and to prevent similar misconduct in the future. DOJ settlement agreements can address a wide variety of topics, including antitrust violations, consumer fraud, environmental violations, healthcare fraud, and financial crimes.

Why do defendants enter into DOJ settlement agreements?

There are a variety of reasons why a defendant might choose to enter into a DOJ settlement agreement instead of fighting the charges in court. Some of the benefits of settlement agreements include:

– Avoiding the cost and uncertainty of litigation

– Resolving the dispute quickly and efficiently

– Avoiding adverse publicity and public scrutiny

– Limiting the potential damages or penalties that can be imposed

– Maintaining goodwill with the government and other stakeholders

– Demonstrating a commitment to compliance and ethical business practices

What are the key terms of a DOJ settlement agreement?

The specific terms of a DOJ settlement agreement will depend on the facts and circumstances of the case. However, most settlement agreements will include some or all of the following provisions:

– Admission of liability: The defendant may be required to admit to certain facts or allegations in the settlement agreement.

– Monetary payments: The defendant may be required to pay a fine, penalty, or other monetary damages to resolve the dispute.

– Injunctive relief: The defendant may be required to take specific actions to address any harm caused by the misconduct and to prevent similar misconduct in the future.

– Compliance monitoring: The defendant may be required to submit to ongoing monitoring and reporting to ensure compliance with the terms of the settlement agreement.

– Cooperation: The defendant may be required to cooperate with the DOJ`s ongoing investigations or prosecutions.

– Record keeping and reporting: The defendant may be required to maintain certain records and provide periodic reports to the DOJ.

What are the potential consequences of violating a DOJ settlement agreement?

A violation of a DOJ settlement agreement can have serious consequences for the defendant. Depending on the specific terms of the agreement, a violation may result in additional fines or penalties, a revocation of the settlement agreement, or even criminal prosecution. In addition, a violation of a DOJ settlement agreement can damage the defendant`s reputation and harm its relationships with stakeholders.

Conclusion

DOJ settlement agreements are a common tool used by the DOJ to resolve civil and criminal disputes. These agreements allow defendants to avoid the cost and uncertainty of litigation while resolving the dispute efficiently and effectively. However, the terms of a settlement agreement can have far-reaching consequences, and defendants should carefully consider their options before entering into such an agreement. With the guidance of an experienced attorney, defendants can ensure that they understand the scope and implications of a DOJ settlement agreement and make an informed decision.