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The lease option sale; The UCC-1 statement of financing; The conditions, covenants, and restrictions of an association for assessments collection; Foreclosing under the provision of the power of sale allows the lien holder on the real estate to avoid the costly court actions for the judicial foreclosure should the owner default in a trust deed [2]
A real estate license must be obtained from the DRE in order to engage in the real estate business and to act in the capacity of a real estate broker or salesperson within the State of California. Before applying for a license, all education and experience requirements mandated by the Department must be fulfilled. [ 6 ]
Lis pendens may refer to any pending lawsuit or to a specific situation with a public notice of litigation that has been recorded in the same location where the title of real property has been recorded. This notice secures a plaintiff's claim on the property so that a sale, mortgage, or encumbrance of the property will not diminish the ...
A notice of default is a public record stating that a borrower is in default on their loan. A lender or servicer files a default letter as the first step in the foreclosure process.
Providing the required preliminary notice to the property owner disclosing the entitlement to the lien (some states). Formally this involves serving a Notice of Intent to Lien; Filing notices of commencement of work (some states). Filing notices in the required public records offices of the intention to file a lien if unpaid (some states).
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Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
Abe is entitled to discount the price by $20,000 to close the sale with Bo without having to reoffer the house to Carl at $980,000. Continuous: a continuous right of first refusal can be worded to continue to live, even upon infinite opportunities that are declined. [citation needed] Many other variations are possible.
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