Posts Tagged ‘Real estate contract’
How First Right of Refusal in Real Estate Works
A right of first refusal in real estate gives an investor or buyer the legal right to purchase a property before the owner can sell it to anyone else. This contractual agreement activates when the property owner decides to sell, requiring them to offer the opportunity to match any legitimate third-party offer before completing the…
Read MoreHow a Good Faith Deposit in Real Estate Works
When you buy a house, you will likely encounter the term “good faith deposit” during negotiations with sellers. A good faith deposit, also known as earnest money, is a financial pledge that demonstrates your serious commitment to purchasing a property and signals to sellers that you are a genuine buyer rather than someone casually browsing…
Read MoreProtect Yourself with Contingency Clauses in Real Estate
In real estate transactions, contingency clauses in contracts serve as critical protections for buyers and sellers. These contractual conditions must be met within specific timeframes for the sale to proceed, providing legal safeguards and negotiation leverage. Contingency clauses allow parties to exit a real estate contract without financial penalty if certain conditions aren’t satisfied, such…
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