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Listing Contract
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. If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms: #A beginning date and a termination date. #The ''list price'' at which the property will be offered for sale. #The amount of compensation offered to the broker, whether it is in the form of a flat fee or percentage of the sales price. #The terms and conditions under which the brokerage fee shall be paid by the seller. #Authorizes the broker to co-operate with other brokers as sub-agents or buyer's agents and details the compensation to be offered to those brokers in the event they procure a buyer. #Authorizes the broker to reveal or not to reveal the existence of offers previously received. In addition, other terms which may appear in the agreement can inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the mind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Broker
A real estate agent or real estate broker is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency. Many states require written disclosures to be signed by all parties outlining the duties and obligations. Generally, real estate brokers or agents fall into four categories of representation: *Seller's agents, commonly called "listing brokers" or "listing agents", are contracted by owners to assist with marketing property for sale or lease. *Buyer's agents are brokers or salespersons who assist buyers by helping them purchase property. *Dual agents help ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property, or personalty, was, and continues to be, all property that is not real property. In countries with personal ownership of real property, civil law protects the status of real property in real-estate markets, where estate agents work in the market of buying and selling real estate. Scottish civil law calls real property "heritable property", and in French-based law, it is called ''immobilier'' ("immovable property"). Historical background The word " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Association Of Realtors
The National Association of Realtors (NAR) is an American trade association for those who work in the real estate industry. It has over 1.4 million members, making it one of the biggest trade associations in the USA including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. The organisation holds a U.S. trademark over the term "realtor", limiting the use of the term to its members. NAR also functions as a self-regulatory organization for real estate brokerage. The organization is headquartered in Chicago. Overview The National Association of Realtors was founded on May 12, 1908 as the ''National Association of Real Estate Exchanges'' in Chicago, Illinois. In 1916, the National Association of Real Estate Exchanges changed its name to The National Association of Real Estate Boards. The current name was adopted in 1972. NAR's members are residential and commercial real estate brokers, real estate salesp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Contract
A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds. Freehold ("More permanent") conveyances of real estate are covered by real estate contracts, including conveying fee simple title, life estates, remainder estates, and freehold easements. Real estate contracts are typically bilateral contracts (i. e., agreed to by two parties) and should have the legal requirements specified by contract law in general and should also be in writing to be enforceable. Details explained on the contract In writing It is a legal requirement in all jurisdictions that contracts for the sale of land be in writing to be enforc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Closing (real Estate)
The closing (also called the completion or settlement) is the final step in executing a real estate transaction. It is the last step in purchasing and financing a property. On the closing day, ownership of the property is transferred from the seller to the buyer. In most jurisdictions, ownership is officially transferred when a deed from the seller is delivered to the buyer. The closing process The closing process officially begins once the seller accepts, signs, and returns a purchase offer (also known as a purchase agreement). The closing date is set during the property negotiation phase and is usually several weeks after an offer is formally accepted. At a high level, the closing typically involves the following parties: the seller, the buyer, real estate agents, attorneys (depending on the state), the mortgage lender, and the settlement agency (also known as a title company). State and regional legislation can greatly impact the closing process so the closing process can v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expiration
Expiration or expiration date may refer to: Expiration Expiration may refer to: *Death *Exhalation of breath, breathing out *Expiration (options), the legal termination of an option to take an action *Shelf life, or the time after which a product expires *Timeout (computing), or the expiration of Session (computer science) due to the passing of time *Copyright expiration (other) * ''Expiration'' (film), a 2004 independent feature film Expiration date An expiration date is a predetermined date after which a particular product should no longer be used. The phrase may also refer to: * ''Expiration Date'' (film), a 2006 comedy * ''Expiration Date'' (Powers novel), a novel by Tim Powers * ''Expiration Date'' (Swierczynski novel), written by Duane Swierczynski * ''Expiration Date'', an unaired pilot for a cut Team Fortress 2 television series that was then uploaded to YouTube See also * Maturation (other) Maturation is the process of becoming mature; the emergenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Transaction
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred between two or more parties, e.g. in case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred, the amount of money being exchanged, and government regulations. Conventions and requirements also vary considerably among different countries of the world and among smaller legal entities (jurisdictions). In more abstract terms, a real estate transaction, like other financial transactions, causes transaction costs. To identify and possibly reduce these transaction costs, the Organisation for Economic Co-operation and Development (OECD) addressed the issue through a study commissioned by the European Commission, and through a research action. The mentioned research action 'Modelling Real Property Transactions' investigated methods to describe sele ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Terminology
Real may refer to: Currencies * Brazilian real (R$) * Central American Republic real * Mexican real * Portuguese real * Spanish real * Spanish colonial real Music Albums * ''Real'' (L'Arc-en-Ciel album) (2000) * ''Real'' (Bright album) (2010) * ''Real'' (Belinda Carlisle album) (1993) * ''Real'' (Gorgon City EP) (2013) * ''Real'' (IU EP) (2010) * ''Real'' (Ivy Queen album) (2004) * ''Real'' (Mika Nakashima album) (2013) * ''Real'' (Ednita Nazario album) (2007) * ''Real'' (Jodie Resther album), a 2000 album by Jodie Resther * ''Real'' (Michael Sweet album) (1995) * ''Real'' (The Word Alive album) (2014) * ''Real'', a 2002 album by Israel Houghton recording as Israel & New Breed Songs * "Real" (Goo Goo Dolls song) (2008) * "Real" (Gorgon City song) (2013) * "Real" (Plumb song) (2004) * "Real" (Vivid song) (2012) * "Real" (James Wesley song) (2010) * "Real", a song by Kendrick Lamar from ''Good Kid, M.A.A.D City'' * "Real", a song by NF from ''Therapy Session'' * "Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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