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If you are heading towards foreclosure, a short sale is real estate terminology you’ll want to know. The real estate definition of a short sale is your mortgage lender allows you to sell your property for less than the mortgage balance. The goal for property owners doing a short sale is ...
For example, the real estate contract might have a financing contingency for the buyer to procure a loan from a mortgage lender. A listing agent may feel confident enough that the prospective buyers will have no problem satisfying the loan contingency. So, instead of changing the status to cond...
Real Estate Contingency The majority of real estate agents also work on contingency. The agent has specific tasks and once completed, the agent is paid. Both the selling agent and the buying agent of each listed property earn contigency fees. In some cases, one agent handles both aspects of ...
Include Contingency Clauses in Real Estate ContractBenny L. Kass
FBI Investigation: Scam Artists Use Forged Deed and Counterfeit ID’s to Steal Concord, MA Property; Local Real Estate Agent, Developer, and Attorneys Caught Up In Fraudulent Transaction Using a counterfeit driver’s license and passport (shown at right), fake e-mail address impersonating the re...
FortuneBuilders' guide on real estate investing for beginners will lay out all the basics you need to master to get started.
A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid.
Unless you buy a tear-down, you should include ahome inspectioncontingency in your offer. This clause allows you to walk away from the deal if a home inspection reveals significant and/or expensive-to-repair flaws in the structure’s condition. These are handled differently based on where you ...
If a buyer is unable to obtain a loan/financing (as long as this funding contingency is agreed upon). Every situation is different, but broadly speaking, the seller gets to keep the earnest money if the buyer decides not to go through with the home purchase for reasons not specified as ...