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Seller concessions defined. A seller concession is a portion of the buyer’s closing costs or expenses that the seller agrees to pay for, lowering the overall upfront costs for the buyer ...
A concession or concession agreement is a grant of rights, land, property, or facility by a government, local authority, corporation, individual or other legal entity. [ 1 ] Public services such as water supply may be operated as a concession.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
In commercial real estate, a tenant inducement (TI) is some sort of consideration given by a landlord in order to attract a new tenant or have an existing one renew their lease. Depending on the contents, the concept may be known as a concession or rent abatement, instead of inducement. There are several different forms of inducements.
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 ...
Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the buyer; the contract either does not specify a loan or includes provisions ...
Closing is a sales term which refers to the process of making a sale. The sales sense springs from real estate, where closing is the final step of a transaction. In sales, it is used more generally to mean achievement of the desired outcome, which may be an exchange of money or acquiring a signature.
Under certain circumstances, the land returned to the owner, as in the case of the death of the emphyteuta intestate, non-payment of the rent or taxes for three years (or two years in case of land held of the Church), lapse of time if a term was fixed in the original agreement, contractus emphyteuseos, which was a specific contract and neither ...