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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 ...
A security deposit is a sum of money held in trust. [ 1 ] In leasing, security deposits, also known as "rent deposits", [ 2 ] are required most often by lessors of automobiles , residential property, and commercial real estate .
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
The full amount of a sale’s closing costs depends on many factors, including the home’s price, the location and the type of financing being used. In a real estate transaction, people naturally ...
In Japan, reikin (礼金, literally, "gratitude money") is a mandatory payment to the landlord that is often the same amount as the original deposit (shikikin). However, reikin can be the equivalent of six months (or more) of rent, but is typically the same as one to three months of rent. This money is considered a gift to the landlord and is ...
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 ...
In a rapidly rising real estate economics housing market, buying off-plan enables investors and homebuyers to buy a property at a lower price than if they wait for the construction of their chosen property to commence or when it eventually is completed. In addition, buying off-plan may be the only way to get a property with a specific location ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
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