Paying the Government Transfer Taxes Goverment transfer taxes play a pivotal role in the real estate transaction. For homeowners who have listed their property for sale and are awaiting offers, understanding the importance of government transfer taxes is essential. In this chapter, we will explore the significance of government transfer taxes in a real estate sales contract, particularly […]
Read MoreWarranty Deed in a Residential Real Estate Transaction Merchantable title is transferred via the warranty deed, trustee deed, executor deed, or other such deed. The deed conveying merchantable title to the home is of paramount importance. For homeowners who have listed their property for sale and await offers, understanding the significance of a merchantable title is crucial. […]
Read MoreReal Estate Tax Prorations Assign Taxes to Sellers and Buyers Understand the significance of real estate tax prorations in a luxury home sales contract. Real estate taxes are a significant expense that is equitably prorated between the seller and buyer. Selling your home is a complex process that involves various legal and financial considerations. Among these […]
Read MoreReal Estate Buyer’s Contingency to Sell Buyer’s Home in Contract 7.0 Navigating a luxury home sale that contains buyer contingencies complicates the closing. Some sellers refuse to accept an offer from a buyer who requires a sale of buyer’s home contingency. Other sellers take the risk and hope the buyer can sell the buyer’s home promptly to […]
Read MoreMortgage Loan Contingency in Residential Real Estate Closing Appreciate the critical role of a financing and mortgage loan contingency in a luxury home real estate contract. Selling your home is a significant milestone, and the process involves numerous legal and financial intricacies. As a homeowner who has listed your property for sale without having received an offer yet, […]
Read MoreSellers Deliver Possession at Residential Real Estate Closing Selling your home is a significant step that involves various legal and logistical considerations. Among these, the timing of when possession of the property is transferred is of paramount importance. As a homeowner who has listed your property for sale without having received an offer yet, it is crucial […]
Read MoreUnderstand the Residential Real Estate Closing Transaction Understand the significance of defining the closing date, time, and location in a residential real estate transaction. Appreciate the damages resulting from an “event of default.” Selling your home is a momentous endeavor, marked by numerous legal and financial intricacies. Among the critical components of a residential real estate […]
Read MoreSellers Must Decide which Fixtures & Personal Property Sellers Are Willing to Sell Fixtures and personal property being sold must be accurately identified in a luxury home real estate contract. High-value homes typically contain luxury fixtures and personal property. Clarity of contract, not ambiguity, is essential when designating what fixtures and personal property are being sold to […]
Read MoreSeller’s Must Accurately Identify the Residential Real Estate Property in the Contract 7.0 The luxury home real estate contract must accurately identify the property. Selling your home is a momentous event, marked by the creation of a comprehensive residential real estate contract. As a homeowner who has listed your property for sale but has not yet […]
Read MoreCarefully Identify the Buyer in a Real Estate Contract 7.0 Identifying the buyer with specificity is a crucial element of the real estate contract. Selling your home is a significant step, and one of the most critical aspects of this process is the creation of a comprehensive residential real estate contract. As a homeowner who […]
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