Receiving an offer is one of the most anticipated moments in the sale of a property. Receiving several competing offers can be even more exciting, particularly when one appears to offer substantially more money than the others. It is natural for a seller’s attention to immediately move toward the highest ...
Continue ReadingMost homeowners understand the importance of having property insurance. When a mortgage is arranged, insurance is generally part of the process, a policy is purchased, premiums are paid and the homeowner moves on with the business of owning and maintaining the property. Years can then pass without much thought being ...
Continue ReadingFinding the right commercial space can be an exciting step for a business. A new location may provide room to grow, better access to customers, improved facilities or the opportunity to establish a business in a market it has been trying to enter. Once a suitable property is found, however, ...
Continue ReadingAn escape clause is a provision in a conditional Agreement of Purchase and Sale that can allow a seller to continue considering other offers and, in defined circumstances, require the original buyer to make a decision about an outstanding condition within a specified period. A seller who accepts a conditional ...
Continue ReadingBuying a property from an estate can look very similar to any other resale transaction. The property is listed, buyers arrange showings, an offer is prepared and, if accepted, everyone works toward closing. The difference is that the person selling the property may not be the person who lived there, ...
Continue ReadingConditional clauses are an important part of real estate transactions because they give a buyer or seller time to deal with uncertainty before becoming fully committed to a particular outcome. A buyer may need to arrange financing, inspect the property, review condominium documents or investigate whether a property can support ...
Continue ReadingReal estate transactions involve a large number of decisions, deadlines, expectations and professional relationships. Buyers, sellers, landlords, tenants, lenders, lawyers, inspectors and real estate representatives may all be involved at different stages, and each participant may be working with only part of the information required to complete the transaction successfully. ...
Continue ReadingCommercial real estate transactions involve a different level of complexity from most conventional residential purchases. A buyer may be acquiring an income-producing investment, an operating location for a business, development land or a property containing existing leases and long-term contractual obligations. A seller may be disposing of an asset that ...
Continue ReadingMost people entering a real estate transaction do not imagine themselves becoming involved in mortgage fraud. The phrase tends to bring to mind stolen identities, forged documents, artificially inflated property values or organized schemes involving properties and borrowers who may not even know one another. Those situations certainly occur, but ...
Continue ReadingMultiple offers can change the atmosphere of a real estate transaction very quickly. A buyer who has spent several days carefully evaluating a property may suddenly learn that four or five other written offers have been submitted, while a seller who expected a relatively straightforward negotiation may unexpectedly find several ...
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