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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 ...
Before the closing happens, the settlement agency must ensure that all the money that the lender and buyer expect to send into escrow matches the total amount expected by parties that need to be paid, such as the seller and real estate agents. This matching process means that accounting information is gathered and the order is “balanced.” [8]
The basic definition is also known as WAULT to expiry to make the distinction clear. Depending on the market conditions, one might desire a high or low WAULT. For instance, if the rental market is strong and rents are rising, a low WAULT is desirable as that indicates that the current leases are going to expire or renegotiate in the short term ...
Last month, housing contract activity rose in all regions of the country except for the Northeast. The South saw the largest month-over-month increase, improving 5.2% from October and 8.5% from a ...
Lis pendens may refer to any pending lawsuit or to a specific situation with a public notice of litigation that has been recorded in the same location where the title of real property has been recorded. This notice secures a plaintiff's claim on the property so that a sale, mortgage, or encumbrance of the property will not diminish the ...
Average mortgage rates edge higher for 30-year and 15-year terms as of Wednesday, December 18, 2024, as the Federal Reserve is set to conclude its final policy session of the year.
Under a notice statute, a subsequent purchaser for value wins if, at the time of conveyance, that subsequent purchaser had no actual or constructive notice of the prior conveyance. In short, a subsequent bona fide purchaser wins. Thus, if Oscar purports to sell a piece of land to Alice for $100,000, and the next day purports to sell exactly the ...
The outgoing head of Ohio's troubled teachers retirement system said that she is leaving the fund in strong fiscal condition, despite the turmoil at the top that her successor will inherit. In a ...