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A generation ago, real estate commission rates were typically around 6 percent of a home’s sale price. But the average real estate commission rate has gone down in recent years to just under 5 ...
From record-high mortgage rates to limited supply, the housing market has changed significantly over the past few years. If you are hoping to buy or sell your home this year, it is important to...
Buying a new home isn't cheap, but careful negotiating can allow you to save money. Whether you're still searching or currently under contract, it's important to negotiate as many expenses as...
In North America, Australia, and Europe, bargaining is typically confined to transactions involving expensive or one-of-a-kind items (automobiles, antiques, jewelry, art, real estate, trade sales of businesses) and informal sales settings such as flea markets and garage sales. In other regions of the world, bargaining may be the norm, even for ...
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms:
The sale of a house in the United States or Canada might involve some or all of the following steps: Hiring of a real estate broker the seller and handle the logistics of the advertising and sale, except for "for sale by owner" properties where the owner(s) may consult legal counsel or obtain copies of a real estate contract.
Another sale contingency – Purchase or sale of the real estate is contingent on a successful sale or purchase of another piece of real estate. The successful sale of another house may be needed to finance the purchase of a new one. Appraisal contingency – Purchase of the real estate is contingent upon the contract price being at or below a ...
The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract.