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Traditionally, when a home seller hired a real estate agent to represent their listing, the seller agreed to pay a commission. The national average has been about 5 percent of the home’s sale ...
For instance, the Real Estate Board of New York, or REBNY, announced that, beginning next year, seller’s agents can’t make an offer of compensation or directly compensate a buyer's agent.
Duration: The exclusive right to sell clause in the contract you establish with your real estate agent should have an expiration date, which might be anywhere from 30 days to six months or more ...
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Without publication of the existence of a lawsuit, innocent buyers might discover the existence of a lawsuit too late. The harsh effect of this rule, and its effect on innocent purchasers, led many jurisdictions to enact lis pendens statutes requiring a written notice, usually recorded in the land records where the real estate is located, for ...
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 ...
The real estate market index is down 19% based on the past five days and 49% during the past six months. Kelman, for one, doesn’t seem too concerned about the settlement’s impact on his business.
In the United States, private property is protected by the Fifth Amendment to the Constitution from seizure by the government without "just compensation". Under the concept of eminent domain, local and national government agencies are entitled to take private property for purposes in the public interest, but must offer owners compensation amounting to the value of the property.