Bond Transaction Closing Procedures

Bond Transaction Closing Procedures
How to Close on a Bond Transaction

Step 1:  Buyer and Seller agree on a sale price.  The $350 closing fee can be paid by either buyer or seller or split between the two.

Step 2:  Buyer fills out the form found at the following link:


Step 3:  The Board Secretary sends out an email to the membership asking for feedback regarding the new applicant.

Step 4:  The Board (or individual board member(s)) interview the applicant.

Step 5:  The Board votes on accepting the new member.

Step 6:  Closing.  The closing is usually conducted by a board member or a representative of the board.  The closing fee of $350 needs to be paid to the club.  The seller’s bond (if available) is returned.  Exchange of sale price from buyer to seller is made.  The  new bond is sent, in the mail, by the secretary, to the new member.

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