. Appendix to the Journals of the Senate and Assembly of the ... session of the Legislature of the State of California . seligibility, qualifications and ability, and preference if any. This information shallbe furnished in writing by replying to all questions on the preliminary applicationform (Farm and Home Purchase Fonn No. 1), copies of which will be furnished onrequest. Recording Discharge and Verification. The discharge should be recorded by a county recorder and a copy of samemade on the application by the recorder. The application must be sworn to beforeanyone authorized to administer
. Appendix to the Journals of the Senate and Assembly of the ... session of the Legislature of the State of California . seligibility, qualifications and ability, and preference if any. This information shallbe furnished in writing by replying to all questions on the preliminary applicationform (Farm and Home Purchase Fonn No. 1), copies of which will be furnished onrequest. Recording Discharge and Verification. The discharge should be recorded by a county recorder and a copy of samemade on the application by the recorder. The application must be sworn to beforeanyone authorized to administer oaths. Application to Purchase. When a veteran has been a selection and purchase certificate he is givenan application to purchase, upon which form he submits the property for appraisal. Appraisal. Each property selection submitted is aj)praised by a board of appraisers createdby the Veterans Fai-m and Home Purchase Act. Mode of Purchase. The board pays cash for all property accepted and should any encumbrances ofrecord stand against such property they are liquidated through escrow. THTRD BIENNIAL REPORT 29. Administrative Charge. The administrative charge is 5 per cent of the purchase price and it representsthe estimated amount that will be necessary to carry a contract over the period ofyears it is to run. Initial Payment. The applicant is required to make an initial payment with the board of 5 per centof the selling price in the purchase of a home and 30 per cent in the purchase of afarm. Purchase of a Home Where the Veteran Does Not Have purchase transactions are as follows: Purchase price of home $5,000 00 Appraisal fee 12 00 Administrative charge, 5 per cent of $.5,000 250 00 Selling price to veteran $5,262 00 Initial payment, 5 per cent of $ 263 10 Balance to be paid on contract $4,998 90 Purchase Price of Home Where Veteran Holds an Equity. When a veteran has an equity in property he desires the board to finance for him,the initial payment i
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