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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.
Most real estate agents would rather endure a root canal than have to show a vacant house for one simple reason: Buyers lack imagination. Part of selling a home, agents say, is selling a lifestyle.
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Property management fees: Hiring a property manager makes being a landlord less onerous, but it eats into your profits as well. These companies tend to charge a percentage of the rent price ...
The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...
Retirement means leaving your job behind, but unfortunately, selling your home can feel like your toughest task yet. From targeting the right buyers to outshining new developments and tackling ...
Once the formal foreclosure processes are underway, these properties can be purchased at a public sale, usually called a foreclosure auction or sheriff's sale. If the property does not sell at the public auction, then ownership of the property is returned to the lender. [11] Properties at this phase are called Real Estate Owned, or REOs.
Title insurance protects property buyers from losses caused by undisclosed liens, easements, unpaid taxes, forgeries, fraud, and other undisclosed challenges related to the title.
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