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  1. (14) "Seller" means an actual or prospective seller in a real estate transaction, or an actual or prospective landlord in a real estate rental or lease transaction, as applicable. (15) "Seller's agent" means a broker who has entered into an agency relationship with only the seller in a real estate transaction, and includes subagents engaged by ...

  2. A financing contingency is probably the most common type of buyer's contingency. As one might expect, a financing contingency dictates that the purchaser's obligation to close on the transaction is contingent on their ability to acquire appropriate (and/or desirable) financing of the purchase price. Both residential and commercial transactions ...

  3. 3.3 Closing Payment.The Purchase Price, as adjusted by the application of the Deposit and by the prorations and credits specified herein, shall be paid by Purchaser, by wire transfer of immediately available federal funds to the Escrow Account on the “Closing Date” (as hereinafter defined) (the amount being paid under this Section 3.4 being herein called the “Closing Payment”).

  4. May 15, 2018 · Weather events (floods, hail, tornados, etc.) and property features that present a possible risk (woodstove, unpermitted work, etc.) may mean property insurance is difficult or expensive to obtain. If situation such as these apply to a property, a buyer’s condition can help to protect the buyer’s interests.

  5. Apr 17, 2020 · For context, some real estate contracts contain a force majeure provision which excuses contractual obligations made impossible or impracticable by an unanticipated event or effect that the parties cannot control (e.g. natural disasters, war, strikes, riots, or epidemics). While the COVID-19 pandemic may classify as a force majeure event, real ...

  6. Aug 31, 2021 · Source: (American Land and Title Association)How to read the top of the settlement statement. At the top of the document (before you get to the portion that looks like a spreadsheet) you’ll see a few boxes for inputting information that records basic details about the transaction, such as the names of the buyer and seller, the property address, and the closing date.

  7. When both the buyer and seller agree to end an agreement, the buyer is typically allowed to recover all purchase monies paid, even if the contract says these will be forfeited in the event that the contract is not performed. Again, you should consult a real estate attorney to confirm. Demanding Specific Performance

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