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- Circa means roughly, and it refers to an estimate or guess as people apply the word to unknown dates, unspecified aspects, such as a property's size and age.
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The meaning of circa in real estate signifies an estimate, an educated guess, or a rough assessment of a home’s specific feature. As we previously mentioned, circa does not describe a piece of precise and accurate information. For this reason, participants in a transaction shouldn’t use it when referring to essential, concrete, and ...
May 4, 2018 · A real estate contract or purchase agreement is a vital document for buying or selling a home. Learn how to read and understand its terms, clauses, and contingencies.
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Sep 23, 2022 · What Are Contingencies In Real Estate? Simply put, a contingency is a part of a contract which allows one party to walk away from the deal without penalty, if specific conditions are not met. A contingency clause is what defines the conditions and/or actions that must be met in order for a real estate purchase agreement to become legally binding.
- What Does Contingent Mean in Real Estate. When the sale of a home is listed as contingent, it means that the seller has accepted an offer on the property, but there are still other steps, or contingencies, that must be met before the deal can go through.
- What Does Pending Mean in Real Estate. If you see a home with a pending status, this means that the seller has accepted an offer from a buyer, but the deal has not been finalized yet.
- What is a Short Sale in Real Estate. A short sale occurs when a financially distressed home is sold for a smaller amount than what is still owed on the mortgage.
- What is Wholesaling in Real Estate. A wholesaler finds sellers willing to sell their properties at a discount and then connects them with a cash buyer or real estate investor.
The Closing Date. Every contract of sale will contain a provision which sets a date in which the transaction is expected to close and title to the property transfers, called a “closing date.”. When selecting a closing date, the parties have to consider vacations, new jobs, school commencement dates and alterations and improvements.
You’ll find definitions of common real estate insurance terms by clicking on the topic below. Actual Cash Value (ACV) Actual Damages (also known as compensatory damages) Additional Insured. Aggregate Limit. A.M. Best Company, Inc. BOP. Bodily Injury. Business Interruption Insurance.
Apr 12, 2019 · This could be a dangerous assumption. Insurance companies frequently reserve the right to deny – or deny outright – coverage of claims made during the policy period on the basis of provisions in their policies that pertain in one way or another to events predating the policy period. Understanding some of the more common ways insurance ...
