An 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 ...
Continue ReadingOrganizations rarely move from one governance model to another overnight. A business, brokerage, professional practice or other organization may recognize that its existing approach to governance has become too operational, too dependent on individual decision-makers, or too focused on managing immediate issues. Leadership may want to establish a more strategic ...
Continue ReadingArtificial intelligence is changing the way information can be reviewed, compared and understood. In real estate, that development may eventually have implications extending well beyond property searches, valuations and marketing. One of the potentially significant applications is tax compliance. Real estate transactions generate enormous amounts of information. Properties are purchased ...
Continue ReadingWhen people think about negotiating a real estate transaction, price is usually the first issue that comes to mind. Buyers naturally want to know how much they will have to pay, sellers want to know how much they will receive, landlords focus on rent and tenants consider occupancy costs. Price ...
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