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By Brendon DeSimone For years, many buyers routinely steered clear of foreclosures and short sales. In their minds, such properties were "damaged goods" -- real estate remainders that were likely ...
Short sales can provide an opportunity for buyers to purchase a home at a bargain price. However, the approval process with the seller’s mortgage lender can be complicated, and the home might ...
A short sale occurs when you sell your home for less than what you owe on your mortgage. If a divorce, job transfer, job loss or other major life event leaves you unable to keep up with mortgage ...
In most U.S. states and Canadian provinces, until the 1990s, buyers who worked with an agent of a real estate broker in finding a house were customers of the brokerage, since, by most common law of most states at the time, the broker represented only sellers. It is only since the early 1990s that states passed statute law to create buyers' agency.
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region.
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g., in the case of conveyance, one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
This is an important one: Whether they represent the buyer or seller in a transaction, real estate agents earn a commission on the deal, usually a percentage of the home’s sale price. Each agent ...
In the United States, agents who buy real estate in this way are also known as property search agents or buyers’ agents and are professionals exclusively acting on behalf of a property buyer who assists the client during the entire purchasing process from sourcing the properties that correspond to the clients' requirements to negotiating the best possible price and terms with the seller and ...