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The PIQ was designed to be easy for sellers to complete without professional help and will provide buyers with basic, useful information about a property that will help to inform their decision to view a property or make an offer. The questionnaire is of a similar nature to the previous Home Use Form (HUF).
In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
The reference to 'HUD' in the form's name refers to the Department of Housing and Urban Development. Federal regulations require that unless its use is specifically exempted, either the HUD-1 or the HUD-1A, as appropriate, must be used for all mortgage transactions that are subject to the Real Estate Settlement Procedures Act. Prior to October ...
According to a recent survey from Clever Real Estate, 73% of home sellers stated that using a real estate agent was the best way to list their property. However, a recent report from Realtor.com...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
Since the agent is representing the buyer, not the seller, the seller may hire an attorney to review the transaction and ensure all required disclosures are made. Flat-fee and hourly home selling. Alternatively, a home seller can either pay a flat-fee or hourly fee to a real estate agent. This can be a one time payment, or an ongoing hourly ...
(The Center Square) – Despite a recent lawsuit affecting real estate commissions, a new survey shows home sellers still prefer hiring a real estate agent for the transaction. In the settlement ...
Open Agency: A seller can enter into an agreement to sell their property with more than one brokerage in open agency listings. The seller must pay a commission only to the brokerage which brings the buyer for the real estate. Typically, if the seller finds the buyer him/herself, the seller does not have to pay a commission. [1] [3]
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