Purchase agreement A written contract signed by the buyer and seller stating the terms and conditions under which a property will be sold. Read More Purchase money transaction The acquisition of property through the payment of money or its equivalent. Read More Qualifying ratios Calculations that...
A purchase agreement is a contract between a buyer and seller stating the terms of the home sale. It may stipulate conditions like sale price, what appliances will stay in the home and when the buyer will move in. Who’s Asking: First-Time Home Buyer Real Estate Agent A real estate ag...
Let’s take a deep dive into some essential real estate terms to know when buying or selling a house. All real estate professionals should be able to explain these real estate definitions to you. This real estate glossary of terms should better help you understand theprocess of closing on a...
ESTATE AGENT - See Agent.EVICTION - The removal of a person from a property.EXCHANGE OF CONTRACTS - A formal legal process that creates a binding contract for the sale of real property on agreed terms. The vendor and purchaser each sign a copy of the sale contract and then exchange these...
AddendumA document that is added to a real estate contract or purchase agreement. AmortizationRepaying a debt over a set period of time. Annual percentage rate (APR)The interest rate along with other fees that you can expect to pay when securing a mortgage loan. Appraisal An approximation of...
Successfully negotiated adequate protection payments for the lender, negotiated a settlement of the Debtor’s claim objection against the lender under very favorable terms, and negotiated an agreement that provided the lender with relief from the automatic stay. Serves as real estate counsel for over ...
This outlines a binding agreement between competent parties to undertake or abstain from certain things for consideration. Contract for Deed A selling arrangement in real estate where the buyer may occupy the property while making installment payments. The seller retains the title until the full agreed...
your acknowledgement of such changes and agreement to be bound by the terms and conditions of such changes. Dispute Resolution.Please read this Arbitration Agreement carefully.It is part of your contract with Company and affects your rights.It contains procedures for MANDATORY BINDING ARBITRATION AND ...
You hear people use the terms “real estate agent,”“real estate broker,” and “realtor” interchangeably. While there is overlap among them, there are key differences to know. Real Estate Agent vs. Real Estate Broker The distinctions between a real estate agent and a real estate broker va...
How Real Estate Commissions Work When a property is put on the market, the seller and thelisting brokersign alisting agreement, a contract detailing the terms of the listing, including the broker's compensation—usually a commission. It's important to note that the commission has always been ...