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The assessed value is also subject to reduction if the market value of the property declines below its assessed value, such as during a real estate slump. Reductions of property valuation were not provided for by Proposition 13 itself, but were made possible by the passage of Proposition 8 (Senate Constitutional Amendment No. 67) during 1978 ...
One bill legalizes microapartments as small as 150 sq. ft. and prohibits cities from limiting their numbers near universities or public transit; [136]: 1 another (SB 2) adds a $75 real-estate document recording fee (for everything other than property sales), which is projected to generate $250 million per year for affordable housing construction.
A specific performance is obtainable for the breach of a contract to sell land or real estate on such grounds that the property has a unique value. In the United States by way of the 13th Amendment to the United States Constitution , specific performance in personal service contracts is only legal " as punishment for a crime whereof the party ...
Brokerage commissions are usually computed as a percentage of the sale price, and are established in a listing agreement between the seller and the listing broker. 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.
Cost. $300 to $700 — often paid by the lender, if you meet certain conditions. Lower or no appraisal fees. Property verification. Full interior and exterior inspection. Drive-by photos ...
A top Costco executive sounded the alarm on the potential consequences of President-elect Donald Trump’s proposed tariffs — warning that it will raise prices of goods across the board. “When ...
A community benefits agreement (CBA) in the United States is a contract signed by community groups and a real estate developer that requires the developer to provide specific amenities and/or mitigations to the local community or neighborhood. In exchange, the community groups agree to publicly support the project, or at least not oppose it.