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Real Estate Contracts - Read Between the Lines

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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.

The Origins of the Six Percent Real Estate Agent Commission

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

Sell your House for Cash Columbia

Sell your House for Cash 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!

Selling a house you bought

Selling a House Mortgage

Real Estate Contracts - Read Between the Lines

Sell your House as

Keeping all of the different agreements and contracts present in the world of real estate straight can be tough, especially since so many of them seem to do similar things as other already existing contracts. A real estate license agreement is used by a land owner who is looking to license a piece of land to another party for use. Such examples would be a university licensing a piece of land to a company to build retail space on or to a company to rent out a retail space for a set period of time. A university could also use a license agreement to rent out land or buildings to a fraternity or any other outside party. Let's break down one of these real estate license agreements and see how they work.

Compared to other real estate forms and agreements, a real estate license agreement usually runs about ten pages and is considered a fairly lengthy legal document. Just like most contracts, a real estate license agreement starts by defining the parties involved in the legal agreement and the address of the property that is being licensed. This section will be followed by several "Whereas" definitions that lay out who owns what, who is in what position relative to each other and any other legal jargon that needs to be ironed out for the rest of the contract to make sense.

In the next section, the group that is giving the license will outline everything they expect from the lessee in terms of what they can do with the property, how they can use it, what the limitations are and what happens if they violate the terms of the lease. While we are dealing with real estate license agreements, you may come across similar agreements if you're a sports fan looking to buy season tickets as many sports teams now use personal seat licenses, or licenses for suite rentals at arenas and stadiums.

The rules sections of most real estate license agreements start by defining the term of the lease then move on to officially declaring that the current lease holder is giving control of the property to the lessee. The following sections tend to be lengthy and are very important to the meat of the contract. The renting party will spell out all of the rules and regulations you must abide by during your license agreement. Most of them are common sense, but some companies have been famous for inserting unreasonable clauses into the rules section which, if signed, are legally binding.

The next part of the contract talks about any responsibilities the outside party has in the way of repairs and maintenance, while the following section will talk about the rights the owning party has when it comes to visiting the property and inspecting it.

Every real estate license agreement has a clause or two about new additions or changes the renting party can make on the property, as well.

As you can see, the average real estate license agreement can be a bit complicated, so if you aren't familiar with how they work, get some advice before you put your pen to paper.

The Origins of the Six Percent Real Estate Agent Commission

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

How Buy House Columbia

How Buy House Columbia