The Contract of Sale Document

Posted on 2017-02-242019-11-22Categories Real EstateTags , , , , ,

For a real estate transaction to be completed, several legal documents have to be completed. The contract of sale is one of the most critical documents as far as the buying and selling of property are concerned.

The refinance property is a critical aspect of the real estate company. The purpose of the documents is to set out the terms and conditions that have been agreed by the seller and the buyer in a concise and clear manner.

Basic information

The preparation of the contract of sale

The contract of sale is a legal document that is prepared by the real estate agent or the conveyance solicitor. When contract of salesigned by the buyer and the seller, it becomes legally binding to the two. When property is to be sold privately, the task of preparing the contract of sale is usually assigned to the real estate agent.

When selling your property, there are certain considerations that should be factored in when choosing a real estate agent. One characteristic of a real estate agent is that he should be sales savvy and have the relevant experience that will enable him to sell your property within the required time frame.

His experience will also be vital in created a water tight contract.

Contents of the contract of sale

Some clauses or provisions are usually included in a contract of sale. The contract of sale should have the following details

  1. The name of the seller and buyer
  2. The conditions of the sale
  3. The financing information and any additional building inspections
  4. The address of the property
  5. The initial deposit amount that has to be paid
  6. The total cost of the property
  7. The property settlement date
  8. The terms of availability of the property

Completing the contract of sale

a houseThe buyer of the building is usually the first individual to sign the document. After signing, he will submit the offer to the seller which will include the price and any additional conditions. Once the buyer signs the document, it becomes a legally binding document.

As much is the contract is legally binding it will not be activated unless the seller signs it as well. Once the buyer signs the documents he is by law required to meet the conditions stipulated even without the signature of the owner of the property.

The only way that the buyer can nullify the offer at this point is if he revokes the offer before the seller signs it. The agreement can also be canceled at this stage if the seller refuses to accept the offer of the buyer.…

Tips on Selling an Abandoned House

Posted on 2016-05-112019-11-22Categories Real EstateTags , ,

When you drive along the streets in some neighbourhoods, you may notice houses that have been closed up and it seems that they have been abandoned and no one lives there anymore. In fact, there are people who own these houses and they have left them due to some reason or the other.

Why do people abandon a houseold house

There are countless reasons that can cause a person or family to leave a house. These include but are not limited to relocation to another city or better neighbourhood, moving to another country or simply an area which is more convenient.

How to sell an abandoned house

Many people forget about the maintenance of a home when they leave it and the house over time will end up in disrepair and will look unsightly. While this not only devalues the property it ends up being an eyesore too. The best decision you can make is to sell the house.

Selling a house that has been abandoned for a while is not an easy task. If you advertise it in the classifieds or hire a real estate agent, you will end up having to fix up the house so that there will be more potential buyers. No one wants to put in more money to a house they have left or don’t really care about. Many people would like to get rid of the house in its present condition and make some cash from it.

Contact a firm that buys houses for cash

abandoned houseIf you contact a company that buys abandoned houses for cash, they will give you the best price possible with the least trouble for yourself. You will have the house off your hands within a matter of days. This is best if your present home is in another state. You will not have to go back and forth to show the house to potential buyers. With a cash offer, You can do all the paperwork in a few days and the money can be transferred to your back so that you do not have to make another trip to the location.

Selling a house is not easy and if it is an abandoned rundown house, it can be worse. Sell it for cash and relieve yourself of the headache.…