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Can a seller legally back out of a real estate contract? The answer to this question is not exactly straightforward, says Zachary Schorr, lead trial attorney at Los Angeles–based Schorr Law, APC ...
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]
Title costs: In some cases, the seller will pay title-related fees as well as, or instead of, the buyer. For instance, in most of Florida, sellers cover the cost of an owner’s title insurance ...
The jury answered yes to every question it was asked, according to the verdict form, including whether this conspiracy caused sellers to “pay more for real estate brokerage services when selling ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
By selling her home without a full-service Realtor, McMahan, who enjoys fixing up and reselling old homes, pocketed some extra cash: Rather than paying 2% or 3% of her home’s final sale price to ...
An initial down payment from the buyer to the seller is usually also required. The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more ...