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A factor deals with managing real property for the ultimate owner. A factor could also be expected to deal with property repair, maintenance, cleaning, landscaping and snow removal, to be coordinated with the landlord's wishes. Such arrangements may require the factor to collect rents, service charges and pay necessary expenses and taxes, making periodic reports to the owner, or the owner may
Real estate contingencies provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met — in other words, the sale is contingent upon ...
In construction contracting, a latent defect is defined as a defect which exists at the time of acceptance but cannot be discovered by a reasonable inspection. [2]In the 1864 US case of Dermott v Jones, the latent defect lay in the soil on which a property had been built, giving rise to problems which subsequently made the house "uninhabitable and dangerous".
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 ...
Jaime Uziel knows that as a real estate attorney his clients depend on him to interpret the legalese that's part of any real estate transaction. He's happy to do that, he says, but he also tries ...
It is best to repair a foundation when it first begins to crack because foundation repairs are easier to make when there is a small crack rather than multiple repairs to be made.
In commercial real estate, recoverable expenses are those expenses of running a property that are billed back to the tenants as a form of additional rent. A simple example is the electricity bill for a large complex that is then divided up among the tenants.
Home repair involves the diagnosis and resolution of problems in a home, and is related to home maintenance to avoid such problems. Many types of repairs are " do it yourself " (DIY) projects, while others may be so complicated, time-consuming or risky as to require the assistance of a qualified handyperson , property manager , contractor ...