Transcription of 20. Basic Contract Provisions and Disclosures in a ...
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20. Basic Contract Provisions and Disclosures in a ...
20 Basic Contract Provisions and Disclosures in a Residential Real Estate Transaction A residential real estate sale transaction usually begins at the time a broker obtains an agency Contract in the form of a listing from the property owner. When a buyer is found, the transaction proceeds through several interrelated processes: Concluding the sale. Buyer and seller agree to terms. The agreement and joint escrow instructions are fully executed and unqualified acceptance is communicated. This is the result of sales effort, negotiation and communication. Legal transfer of title. Title insurance or title evidence has been furnished and escrow has the funds necessary to cash out the seller's equity, less expenses. All instruments necessary to transfer title are executed and recorded. Transfer of title and transfer of money are thought of as simultaneous acts. Completing the financing and providing the final settlement statement. Completing the financing is closely related to the legal transfer of title but with more emphasis upon the settlement function: , the actual disbursement of funds by checks and a written accounting to all parties.
Residential Listing Agreement, Exclusive – RLA Seller's Advisory - SA Short Sale Addendum - SSA Modification of Terms Authorization - MT Notice To Buyer To Perform – NBP . Other Types of C.A.R. Listing Forms Seller Instruction to Exclude Listing From the …
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