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However, Carl holds a right of first refusal to purchase the house. Therefore, before Abe can sell the house to Bo, he must first offer it to Carl for the $1 million that Bo is willing to buy it for. If Carl accepts, he buys the house instead of Bo. If Carl declines, Bo may now buy the house at the proposed $1 million price.
Late spring and early summer are generally considered the best times to sell a house. Home prices are high right now, which is obviously good for sellers, but mortgage rates are high as well ...
The successful sale of another house may be needed to finance the purchase of a new one. Appraisal contingency – Purchase of the real estate is contingent upon the contract price being at or below a fair market value determined by an appraisal. Lenders will often not lend more than a certain percentage (fraction) of the appraised value, so ...
Selling a financed car is a bit more complicated than selling one with a clear title. The first step is to determine the payoff amount, which is the dollar amount of much you owe on the car.
If you spend $7,000 on a car and an additional $1,000 on improvements, but you sell the car for $7,000, it's considered a capital loss, and you don't need to pay tax on the sale.
Because the right of redemption is an equitable right, foreclosure is an action in equity. To keep the right of redemption, the debtor may be able to petition the court for an injunction. If repossession is imminent, the debtor must seek a temporary restraining order. However, the debtor may have to post a bond in the amount of the debt.
Average costs to sell a house. ... For example, if you sell your home for $500,000 but you still owe $300,000 on your mortgage, you’ll have to give $300,000 right back to the lender. Prorated ...
A bona fide purchaser (BFP) – referred to more completely as a bona fide purchaser for value without notice – is a term used predominantly in common law jurisdictions in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property.