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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 ...
A contingency clause in a real estate purchase agreement specifies an action or requirement that must be met, within a particular time frame, for the contract to become legally binding. Both the ...
A cash offer refers to an offer made to purchase real estate submitted by purchasers who do not require any financing since they do not require a mortgage.The purchase is referred to as an "all-cash buyer."
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
A conditional sale is a real estate transaction where the parties have set conditions. [1] [2] A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property. As in a standard offer, a conditional offer sets out the terms of the sale such as the purchase price, the date of ...
Rates on a 15-year mortgage stand at an average 6.27% for purchase and 6.32% for refinance, up 3 basis points from 6.24% for purchase and 9 basis points from 6.23% for refinance this time last week.
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