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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

One example is someone using a private road to access their own land. This is the government’s right to use private land for a specific, public purpose after compensating the owner. An encroachment is a violation of an owner’s property rights by building or extending onto their land without permission. Pre-approval.

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How to Sell a House By Owner in Alabama

HomeLight

“The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. A bank statement will help weed out people who are just looking around and don’t have the qualifications to purchase your house from legitimate buyers who can obtain financing. Require everything in writing. See the next step!)

MLS 67
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How to Sell a House by Owner in New Jersey

HomeLight

Murphy says some New Jersey towns offer full-day pre-K. She cautions that buyers can get a pre-approval letter online that’s not worth the paper it’s written on. So your due diligence should include contacting the lender to ask about the type of financing and whether the buyer has the qualifications to be approved for a loan.