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A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
A contingency plan, or alternate plan, also known colloquially as Plan B, is a plan devised for an outcome other than in the usual (expected) plan. [1] It is often used for risk management for an exceptional risk that, though unlikely, would have catastrophic consequences.
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
Whether you're buying or selling a home, getting the home under contract is just the start of the process. Since most Americans don't buy their homes with cash, they need a mortgage to complete ...
The agreement is likely to spell an end to the traditional practice of home sellers paying commissions for both the seller's and the buyer's real-estate agents. In central Ohio, the commission is ...
Continue reading → The post What Is an Appraisal Contingency? appeared first on SmartAsset Blog. If you are buying a home, there are two things you should never, under any conditions, waive. The ...
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Working on a contingency plan has become the priority in the last few weeks, Nunally said. "For centuries fairs have been where communities have come together to show and sell their wares ...