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The Lot and Block system is perhaps the simplest of the three main survey systems to understand. For a legal description in the Lot and Block system a description must identify: the individual lot, the block in which the lot is located, if applicable, a reference to a platted subdivision or a phase thereof,
A multiple listing service's database and software is used by real estate brokers in real estate (or in other industries, for example, aircraft brokers [1]), representing sellers under a listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to work with a seller's broker in ...
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
The lot and block system is perhaps the simplest of the three main survey systems to understand. For a legal description in the lot and block system a description must identify: the individual lot, the block in which the lot is located, if applicable, a reference to a platted subdivision or a phase thereof,
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g., in the case of conveyance, one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
A broker price opinion (BPO) is a real estate professional’s dollar estimate of a property’s worth. It is an opinion, but one often backed up by the selling prices of comparable homes in ...
After the filing of a plat, legal descriptions can refer to block and lot-numbers rather than portions of sections. [3] In order for plats to become legally valid, a local governing body, such as a public works department, urban planning commission, zoning board, or another organ of the state must normally review and approve them.
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms: