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Ken H. Johnson, a real estate economist at Florida Atlantic University and a former real estate broker, says the new rules just add another layer of complexity to an already-confusing process.
For decades, if you wanted a real estate agent to help you buy or sell a home, the model was static. At the close of escrow, the seller typically used their proceeds to pay a 5% to 6% commission ...
The first US land patent was issued on March 4, 1788, to John Martin. [4] That patent reserves to the United States one third of all gold, silver, lead and copper within the claimed land. A land patent for a 39.44-acre (15.96 ha) land parcel in present-day Monroe County, Ohio, and within the Seven Ranges land tract.
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The Illinois Department of Financial and Professional Regulation (IDFPR) is the Illinois state government code department [1] [2] that through its operational components, the Division of Banking, Division of Financial Institutions, Division of Professional Regulation, and Division of Real Estate, oversees the regulation and licensure of banks and financial institutions, real estate businesses ...
A patented claim is one for which the federal government has issued a patent (deed). To obtain a patent, the owner of a mining claim must prove to the federal government that the claim contains locatable minerals that can be extracted at a profit. A patented claim can be used for any purpose desired by the owner, just like any other real estate.
A federal lawsuit has forced changes to the way consumers negotiate and pay real estate agents. ... Long ago, 6 percent was the going rate for real estate commissions; 3 percent to each agent. ...
This principle states that an investor will pay no more for an asset than the cost to obtain, by purchasing or constructing, a substitute asset of equal utility. There are several cost approach valuation methods, the most common being the historical cost, replacement cost, and replication cost.