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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.
If the home is empty and unoccupied for 30 days or longer (depending on the state), an insurance company may choose to cancel or not renew the home’s insurance policy. If you treat your property ...
After builder risk coverage expires, due to sale or occupancy, the new owner typically obtains permanent property insurance on the building such as a home owner's policy or a commercial property policy. Insurance costs generally run between one and four percent of the construction cost, depending upon the type of insurance purchased and ...
Vacant possession refers to the typical condition in which a seller must hand over a property to a buyer upon completion, or a tenant must return the property to a landlord at the end of a lease. In simple terms, it means that the rightful person, such as a buyer or a landlord, can peacefully and fully utilize the property.
HO-5 policies: These are the most robust homeowners insurance policies available and cover open perils for both your dwelling and personal property. Coverage for open perils means any peril not ...
Personal property coverage. Personal property coverage is the same for all three types of home insurance, but the base amount built into the policy is different. In a homeowners policy, the ...
A real estate attorney, broker, escrow officer (in the western states), or loan officer can provide detailed information as to the price of title search and insurance before the real estate contract is signed. Title insurance coverage lasts as long as the insured retains an interest in the land insured and typically no additional premium is ...
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