
Sale, Financing, Settlement or Lease of Other Real Estate Form
Quick guide on how to complete sale financing settlement or lease of other real estate
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People also ask
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What is the HOA contingency in Maryland?
6. Homeowners Association (HOA) Contingency. If the property is part of an HOA, this contingency allows the buyer to review the HOA's rules, regulations, and financial health. If they find any issues that they cannot accept, they may withdraw from the contract.
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What are the normal contingencies for home purchase?
Some of the most common real estate contingencies include appraisal, mortgage, title and home inspection contingencies. Many home buyers also include a sale of prior home contingency, which allows them to withdraw an offer if they are unable to sell their current home within a specified timeframe.
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What is the seller's home of choice addendum in Maryland?
Seller's Home of Choice Addendum This Addendum allows the Seller to make the Contract contingent upon the Seller's purchase, financing, settlement, or lease of a new property.
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What is a home of choice contingency?
A Home of Choice contingency allows you to sell your home to a buyer with the option to back out of the agreement and stay in your home if you're unable to find a new home within your Home of Choice contingency period.
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What is the difference between for lease and for sale?
A sale involves the transfer of ownership of goods for a price, while a lease involves giving someone the right to use the property for a specific period of time in return for payment.
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What is the home of choice contingency in Maryland?
What is a home of choice contingency in a real estate contract? A home of choice contingency is a contingency that protects a seller from having to sell their current home if they haven't found their next home. This way a seller can sell their home and just in case they can't find a new home they like and be protected.
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What is a 48 hour contingency in real estate?
If a second buyer submits an acceptable offer, buyer #1 has 48 hours to either remove their home sale contingency and move forward or step aside, allowing buyer #2 to purchase the home.
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What is a settlement contingency in real estate?
With a settlement contingency, the buyer already has a contract in hand and an agreed settlement date. Since the home sale isn't final until the closing or settlement occurs, the settlement contingency protects the buyer if the agreement falls through.
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