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If you are considering moving to South Carolina, Lexington and Columbia are some of the top places to call home. Start exploring all homes and real estate in these top cities.
Get fast, up-to-date listings and important information like recent price history, photos, descriptions, and the current listing status (active or pending) – the same changes South Carolina real estate agents and brokers see when searching their MLS database.
Rest assured that you’ll see accurate information. All the listings on our real estate website come from a direct MLS feed of all the homes listed by South Carolina Realtors via the largest regional MLS database. We update our website several times each day. Other sources may take up to a week to show new homes for sale or change a listing status. How frustrating!
Real Estate Contracts - Read Between the Lines
The real estate contract is a legal document which has lot of technical and legal jargon and it is not really easy to comprehend the matter. This contract is very much like any other business document and hence it is imperative that you read the contract thoroughly before signing the agreement. A contract always has two parties, the buyer and the seller. Both the parties sit down, decide on the contract amount, date when it would be effective, other terms and conditions, technical matters and legal matters concerned with the deal.
A real estate contract would become a legalized and valid document only when it is in black and white and also both the parties need to give their consent to the agreement by signing the document. With the current financial downpour, the real-estate market does not look very encouraging and hence one needs to be doubly sure before the agreement is formulated. This saves a lot of hardships in the future. Once you have signed on the dotted line, it is set on stone and it is not very easy to go back and change the clauses without the permission and approval of the opposite party. When buying real estate property, the paperwork is normally done by the real estate dealers. The real estate dealer should be unbiased and draft an agreement which is equal and suits both the buyer as well as the seller.
The real estate contract gives complete information about the property. In any agreement, the cost factor plays an important role and a real estate contract is no different. The contract period, rate of interest are important aspects in a real-estate contract. It is mandatory that the purchaser makes a deposit payment. The amount needs to be specified in both words and numbers and the name of the person who has collected the amount needs to be clearly mentioned.
The document should be truly transparent and free of ambiguities so that both the parties do not face any future problems or nuisances. The final real-estate contract should be perfectly drafted and should be inspected thoroughly by both the buyer as well as the seller. The warranties along with other related assurances need to be mentioned clearly. The other important factors include clauses related to repair expenses, hygienic and sanitary situations, occupation date of the buyer.
This is why legalities play an important role when it comes to a property contract. Check out the various legal forms on free sites and it would be easier and economical to draft the real estate contract.
Realty Vs Real Estate Vs Real Property
Realty and personal property terms have often been confused as to what they exactly mean. Here we will clear that right up for you. We will look at the terms personal property, realty, land, real estate, and lastly real property.
Let's begin with personal property. Personal property also known as chattel is everything that is not real property. Example couches, TVs things of this nature. Emblements pronounced (M-blee-ments) are things like crops, apples, oranges, and berries. Emblements are also personal property. So when you go to sell your house, flip, or wholesale deal, you sell or transfer ownership by a bill of sale with personal property.
Realty is the broad definition for land, real estate, and real property.
Land is everything mother nature gave to us like whats below the ground, above the ground and the airspace. Also called subsurface (underground), surface (the dirt) and airspace. So when you buy land that's what you get, keep in mind our government owns a lot of our air space.
Real estate is defined as land plus its man made improvements added to it. You know things like fences, houses, and driveways. So when you buy real estate this is what you can expect to be getting.
Real property is land, real estate, and what's call the bundle of rights. The bundle of rights consist of five rights, the right to possess, control, enjoy, exclude, and lastly dispose. So basically you can possess, take control, enjoy, exclude others, and then dispose of your real property as you wish as long as you do not break state and federal laws.
Lastly there are two other types of property we should mention.
Fixture is personal property which has been attached realty and by that now is considered real property. So you would ask yourself upon selling to determine value "did you attach it to make it permanent?" The exceptions to this rule are the garage door opener and door key, these are not considered fixtures.
Trade fixtures are those fixtures installed by say a commercial tenant or can be the property of the commercial tenant.
I hope this clears up some misconceptions about personal property, realty, land and real estate and now fixtures and trade fixtures!
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The combination of architectural and natural beauty at South Carolina offers an exciting new community of plush single-family homes. These stunning homes are located in the premier cities of South Carolina. You will enjoy the place and will be just minutes away from fantastic shopping, dining, and an easy commute to work.
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