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“If, for some reason, the buyer’s lender does not appraise the home at a value that would secure financing, the seller can cancel the contract for the buyer’s lack of performance in terms of ...
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
A net sheet itemizes the costs associated with the sale of a home to estimate the amount the seller will earn, or “net,” from the sale. Net sheets are typically prepared by your real estate ...
An early termination fee (ETF) is a charge levied when a party wants to break the term of an agreement or long-term contract.They are stipulated in the contract or agreement itself, and provide an incentive for the party subject to them to abide by the agreement.
According to the National Association of Realtors, the average down payment for a first-time buyer in 2022 was 8% -- while repeat buyers put down an average of 19%.
A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
The listing broker may offer buyer agents a portion of their commission as an incentive to find buyers for the property. Payment is required if real estate brokerage service was used. This is often one of the largest closing costs. Mortgage application fees, paid by the buyer to the lender, to cover the costs of processing their loan ...
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