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‘I felt like I’d been baited and switched’: Florida homeowner left with no option but to sell her house after property tax bill soars 174% — local attorney says ‘buyer beware’
3. Run a title search. Run a title search on the property you are purchasing early in the closing process. A title search will bring up any issues with or claims against the home, such as a ...
Due-on-sale clause. A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to call the note due in such a circumstance.
A prospective buyer wants to purchase the house for $300,000 and keep the same mortgage to avoid going through the process and expense of applying for a new loan. The buyer pays $50,000 cash for the equity and assumes the $250,000 mortgage, becoming liable for the debt.
t. e. In contract law, a contract of sale, sales contract, sales order, or contract for sale[1] is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent). An obvious ancient practice of exchange, in many common law jurisdictions ...
When you pay off your mortgage, your lender will provide you with paperwork to show you have paid off your home loan in full. You must collect all the necessary paperwork, and in some cases ...
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