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19 hours ago · If you’re new to the world of real estate, deciphering industry speak can be tricky.The process of buying, selling, and investing in real estate is complicated and not surprisingly, so is all the terminology that comes with it. As a jumping off point, we’ve compiled 50 of the most common terms used...
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19 hours ago · This may involve adjusting some aspects of the sale agreement, such as price, closing dates, contingencies, and included items or conditions. In a very simple example, for the sale of a $350,000 property, the buyer offers $320,000, and the seller counteroffers $340,000 rather than rejecting the offer. Counteroffers are a strategic real estate ...
1 day ago · One of the primary benefits of a Buyer Agency Agreement is that it provides transparency into how your agent gets paid. By signing this document, you’ll know exactly what to expect in terms of fees and services. Many buyers assume that since the seller typically pays the agent’s commission, the buyer’s cost is zero.
3 days ago · A real estate agent usually has between 24 to 48 hours to present an offer to the seller after receiving it. This timeframe can vary depending on market conditions. In competitive markets, agents may present offers within hours to align with the urgency of buyers.
3 days ago · When the market value of a property drops below its assessed value under Proposition 13, the Assessor is required to lower the assessment to match the lesser of the current market value or the previously factored base year value. This reassessment occurs annually on January 1 and is crucial for aligning property taxes with real-time market ...
4 days ago · Standardized Sales Agreements: RERA requires a standard format for sales agreements, eliminating confusing contract terms and ensuring clear communication with buyers, which builds trust and minimizes disputes. Timely Delivery: Under RERA, you must complete projects on time or face penalties.
4 days ago · The Tenant Screening Process. Be prepared to conduct a tenant screening process to do all that you can to ensure a prospective tenant won’t end up being a financial nightmare. “Thorough screening reduces the risk of late payments, evictions or property damage,” Geransar said.
