One of the trickiest areas for an agent working a short sale is to set the contingency dates. Short sales often involve unpredictable waiting periods that can last for months. Therefore, inspection and contingency dates in the purchase agreement need to be set to accommodate the long time lags while waiting for the lender approval(s). If you are representing the buyer a termination option should be included in the contract so the buyer can get out of the contract if the bu
Posted on : 7/7/2010 1:06:00 PM
A short sale is an alternative to foreclosure. In a short sale, the seller lacks sufficient equity in their property to pay off the mortgage, other liens, and selling expenses in order to transfer clear title to the buyer. The lender usually must accept less than what is owed on the loan and therefore the lender’s consent is required in a short sale.
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Posted on : 7/2/2010 10:07:00 AM
These topics are less social media and more related to good practices in operating your own broker web site. Understanding these issues will make you a more savy Internet user and could avoid big problems. Below we discuss electronic contracting and protecting the listing content you may have available on your web site. Electronic Contracting
One hot topic in Internet related law is electronic contracting.
Contract formation: Online contracting usua
Posted on : 2/18/2010 8:52:00 AM
More and more Realtors join Internet communities every day; not a surprise since more and more of our business and personal dealings occur online. These Internet communities provide a fast, easy and cheap way to publish, transmit and distribute….just about any information. This creates opportunities and challenges for Realtors who participate. Below is a brief discussion of three of the most common legal issues that arise from contributing content online. Understanding these issues is the first step in avoidi
Posted on : 2/8/2010 9:37:00 AM