Tenants should abide by the terms of the lease and avoid any sort of damage to the property. However, accidents happen, and tenants will be legally obligated to pay for the repairs for the damage they’ve caused. Can landlords make tenants pay for repairs? Yes, landlords can make tenants ...
Yes, those are separate issues. With the As Is clause, though, the seller isn’t obligated to fix things. Does As Is mean no contingencies? No, those are separate issues. You can have an As Is agreement and still have the right to back out, or request repairs, if you have a contin...
determine if they function properly, and recommend repairs or maintenance. An inspector can also give you an idea of the age of the home's ducting, whether it might have leaks, if your home has sufficient insulation to minimize your energy bills, and whether there is any asbestos...
Sunk costs also cover certain expenses that are committed but yet to paid. Imagine a company that has entered into a contract to buy 1,000 pounds of raw materials for the next six months. If the company is contractually obligated to uphold their end of the deal, the raw materials are a...
contingencyclause in your purchase agreement, and the house comes back needing a new roof and has plumbing issues, you will be entitled to receive your earnest money back. You also have the option of purchasing the house anyways or asking the seller to make the repairs or give you acreditat...
If you own a motorcycle, motorcycle insurance is essential. The majority of states — except Florida — require some form of it. In many cases, riders still paying off their bikes are obligated to have a full coverage plan. Even when it’s not required, minimal coverage could help save yo...
2. Remember seller’s disclosures Selling as-is doesn’t excuse you from disclosing known defects. For example, if you know there’s a mold problem or acrack in the foundation, you’re legally obligated to inform the buyer. If you misrepresent the condition of the property, you could pote...
“A reverse mortgage can make sense for some seniors, mainly those who answer yes to these questions: Do you need additional income to pay your bills? Do you plan to stay in the home? And are you OK with passing on the property to your heirs with a debt they’ll need to pay off?
While selling "as is" generally means the seller won’t complete any repairs or improvements, it doesn't always mean there will be no negotiations. Buyers might still request inspections and use the findings to negotiate the price. But, it's up to you as the seller to decide if you're...
Buyer and Seller shall each be responsible for one-half of the Escrow Agent's fees. If this transaction closes in accordance with the terms hereof, then at the closing, the Xxxxxxx Money Deposit and all interest earned thereon shall be returned to Buyer. Buyer will make the payment due to...