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Real Estate Contracts - Read Between the Lines

Buy Home vs Rent

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

When it comes time to get the deal done for both buyers and sellers, we line up all the legal documents (there are many!) and make sure the train runs on-time. You can expect us to carefully manage the process. Most importantly, you’ll be apprised of the deal’s progress each step of the way. We’re friendly, competent guides who’ll help you reach the best possible outcome and achieve your real estate goals.

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Tips to Sell your House Columbia

Tips to Sell your House Columbia

Find Homes and Houses for Sale in Columbia

Search Columbia real estate property listings to find homes for sale in Columbia,South Carolina. Browse houses for sale in Columbia today!

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Realty Vs Real Estate Vs Real Property

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Real estates have different laws and terminologies. One of which is a quick sale. This is the most commonly used term in this field of business. Better understanding of what a quick sale is quite important. As a businessman, you can determine how to make a huge amount of profit if you have enough knowledge about the more common real estate terms. For debtors on the other hand, there are some benefits that they could get from knowing this information as well.

There are quite a number of things that you need to know before you get yourself fully engaged into this kind of business. Some of these things would include the benefits both to debtors and businessmen, function of a short sale, the whole process and its effects.

To start with, a quick sale is a form of a business deal which involves buying a property for a price lower than its normal value. This normally happens when the mortgage loan could not be paid by the borrower, or home owner. After a couple of months that the debtor failed to pay for the loan, the lender decides to sell the property for a lower price, rather than putting too much pressure on the borrower.

The whole quick sale process starts when both parties agree to sell the unpaid property for an amount relatively lower than the outstanding balance. Since this involves a huge amount, real estate lawyers for both parties should be present. By doing this process, it guarantees both the borrower and lender that the whole process will be taken care off legally. This is an added insurance that no one gets ripped off and that these two parties will equally benefit from it.

The debtor should sign a consent form saying that he/she agrees to the short sale agreement. The bank will also sign another consent form to if the institution agreed to the price offered. The bank has the power to object to the amount offered. There are instances that the buyer has to wait for the bank's decision - it may range from two days up to five months.

Once everything is settled, including the legal papers, the property will not undergo foreclosure, thus, less bank fees and other expenses will be spared. Borrowers on the other hand will benefit since having a poor credit score can be avoided.

With regard to business, most people take the advantage of a quick sale to earn huge profits. Say for instance, there is a property with an outstanding balance of $300,000. You and the lender can agree to pay the remaining balance at $250,000. After which, the businessman is not obliged to pay for the remaining $50,000.

Since you have agreed to pay for a lump amount, the bank agrees that the debt has already been paid. After which, they grab this great opportunity to sell the property for a higher price.

Understanding the process will help in creating profits. You just have to understand the process better and seek the help of experts for your better appreciation of the whole picture.

Title Companies Vs Real Estate Lawyers

When it comes time to get the deal done for both buyers and sellers, we line up all the legal documents (there are many!) and make sure the train runs on-time. You can expect us to carefully manage the process. Most importantly, you’ll be apprised of the deal’s progress each step of the way. We’re friendly, competent guides who’ll help you reach the best possible outcome and achieve your real estate goals.

Call us Today


Sell your House by Owner South Carolina

Selling a House Mortgage Columbia

Selling a House Mortgage Columbia