An Overview of the Residential Real Estate Transaction

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Status: In Progress  |  Genre: Non-Fiction  |  House: Anthony Ziuimmerman

Submitted: April 25, 2016

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Submitted: April 25, 2016

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An overiew of the general principles of a  Residential Real Estate Transaction.  Once you have found a house that you would like to buy, you should do a walk throuigh of the yard to make sure that no toxic chemicals have been dumped on the lot at some point.This is done to help you to avoid  Superfund-Cercla liability. 

Next, you should review the  real estate Purchase Agreement.This agreement is sometimes called a short fuse real estate contract.The Purchase Agreement should minimally contain the names of the parties, the real estate address,  the amount of the purchase price, the closing date,  etc.  Also included in the  Purchase Agreement are 'subject to; clauses.Common subject to clauses in  the agreement is subject to a marketable title, or   structural inspection or a title search or subject to financing.. 

When the financing and other subject to clauses have been satisfied, then it is time for the closiing.  At the closing the Deed for the property and the purchase price change hands.

Please see a practicing  lawyer if yoiu are planning to buy or sell a house.

 


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