When are buyers entitled to rescind a purchase agreement?

REM Online

The original post can be found at the following URL: When are buyers entitled to rescind a purchase agreement? The original post can be found at the following URL: When are buyers entitled to rescind a purchase agreement? 2019 Agreement of Purchase and Sale Issa v.

Mitigation of damages when an Agreement of Purchase and Sale is breached

REM Online

The original post can be found at the following URL: Mitigation of damages when an Agreement of Purchase and Sale is breached. The original post can be found at the following URL: Mitigation of damages when an Agreement of Purchase and Sale is breached.

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Commission claim dismissed – buyer representation agreement ruled unenforceable

REM Online

The original post can be found at the following URL: Commission claim dismissed – buyer representation agreement ruled unenforceable. The original post can be found at the following URL: Commission claim dismissed – buyer representation agreement ruled unenforceable.

Courts show little empathy for failed purchasers

REM Online

The original post can be found at the following URL: Courts show little empathy for failed purchasers. Purchasers should take these risks to heart: the courts will not impose a duty on purchasers to extend closing dates, as it would effectively be to condone breach of contract.

Buyer loses $100,000 deposit after refusing to purchase condo

REM Online

The original post can be found at the following URL: Buyer loses $100,000 deposit after refusing to purchase condo. The original post can be found at the following URL: Buyer loses $100,000 deposit after refusing to purchase condo.

Misrepresentation in square footage leads to rescission of Agreement of Purchase and Sale

REM Online

The original post can be found at the following URL: Misrepresentation in square footage leads to rescission of Agreement of Purchase and Sale. resulted in the rescission of the Agreement of Purchase and Sale (APS) and the return of the $50,000 deposit.

Signed, sealed, delivered…I’m yours?

REM Online

This case addresses the interesting issue of whether the words “signed, sealed and delivered”, which appears on the standard form OREA Agreement to Purchase and Sale, meets the “sealed contract” rule in law.

How big is this place, again?

REM Online

So what happens when a buyer purchases a property under the mistaken belief that it measures 2,000-2,500 square feet, and later finds out, before closing, that is it actually only 1,450 square feet? Featured Legal Issues Agreement of Purchase and Sale Issa v.

Seller ruled not responsible for property zoning or future use limitations

REM Online

The Ontario Superior Court of Justice affirmed that preliminary discussions between a buyer and seller regarding the potential zoning or future uses of a property are generally superseded by the written terms of the purchase agreement.

Standard of care owed by agents

REM Online

Sychev, the Ontario Superior Court of Justice affirmed when an Agreement of Purchase and Sale (APS) will be kept alive, preventing a buyer’s release from their contractual obligations. Featured Legal Issues Shaneka Shaw-Taylor Agreement of Purchase and Sale Kazakevich v.

When a property is damaged prior to closing

REM Online

Legal Issues Shaneka Shaw-Taylor Agreement of Purchase and Sale fire fire damage Paul Crowther Pordell v. The following content may have been republished here without the author's permission.

Court awards buyers $150,000 after seller reneges on house deal

REM Online

An Agreement of Purchase and Sale is just like any other legal contract: Once duly signed, it is binding and must be honoured according to its terms. Legal Issues Agreement of Purchase and Sale Datta v.

Staying After Selling: What to Know About Use and Occupancy Agreements

HomeLight

As excited as you are about the prospect of a successful sale, you’re hesitant to sign a contract without knowing you’ll have somewhere to go. Enter the use and occupancy agreement. This often occurs when the seller has listed their current house before purchasing the next one.

Water damage insufficient to terminate transaction

REM Online

Archive Agreement of Purchase and Sale Bilotta v. The following content may have been republished here without the author's permission. The original post can be found at the following URL: Water damage insufficient to terminate transaction.

Developer deals: Convey parkland to the city, or pay cash-in-lieu?

REM Online

Featured Industrial, Commercial & Investment Legal Issues Agreement of Purchase and Sale CIBC CIBC v. The following content may have been republished here without the author's permission.

Leasebacks trend as sellers struggle to find a home to replace theirs

Realty Biz

With existing home inventories super tight and competition among buyers for the few homes that are listed for sale, many have struggled to buy a new home before they leave the one they’re selling. Home Sales fast home sales leaseback agreement rent-back

How Long Should the Contingency Timeframes in a Purchase Contract Be?

RIS Media

A standard home purchase agreement typically includes contingencies. Purchase contracts typically include an appraisal contingency. If a home appraises for less than the agreed-upon sale price, the buyer can put a larger sum down, ask the seller to reduce the price or walk away.

Short Sale Closing Costs: What Buyers Should Know

HomeLight

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales operate according to the lender’s approval, requirements, and timeline. Short sales 101. Let’s start with the basics: What even is a short sale?

ERA Collaborative Culture showcased as two ERA Broker/Owners Partner to purchase 3rd ERA Affiliate

Realty Biz

The central Texas powerhouse generated 1,829 transaction sides in 2019 equating to $489 million in sales volume. Today the firm is the second largest in Jonesboro with 64 agents producing $102 million in sales volume. million in sales volume in 2019 according to REAL Trends.

Much Ado About Estate Sales

Toronto Realty Blog

“in his will, he divided his estate between his wife and daughter” While I would love nothing more than to delve into photos and fantasies about the sale of mansions in the Swiss alps, it is, of course, the latter of the two that I want to talk about today. TorontoRealtyBlog.

What Is A Short Sale and Is It A Good Idea As A Buyer?

HomeLight

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. How do short sales work? Since short sales are complex deals with multiple parties, lenders typically only approve short sales when foreclosure is unavoidable.

Late-July Home Sale Prices Up 11%, Largest Annual Increase Since 2014

Redfin

Key takeaways for the 4-week period ending July 26: Pending home sales were up 12% year over year, an increase from the 7% year over year gains we reported for the period ending July 12. Home sale prices were up 11% year over year for the week ending July 26, the largest increase since 2014.

10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process.

3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales

HomeLight

But for some buyers, that excitement can quickly turn to anxiety when it comes time to sign the purchase contract. Once you and the seller sign the purchase agreement, things start to get real. Issues with financing are fairly common in home sales. Home sale contingency.

Is the Cool-Off Factor Killing Your Sales? Here’s How to Fix It …

Lab Coat Agents

They see the value, they like you, their buying temperature is high, they’re ready to sign the listing agreement. Purchase Decision. Post-purchase Behavior. Yes, the cool-off factor can strike after they purchase! How many times have you heard about a previous client drifting away and deciding to list with a different agent for their next sale? Believe it or not, most real estate agents are terrible at follow-up, both before and after the sale.

What to Look For in New-Construction Homes: These 5 Crucial Aspects Should Be on Your Radar

Realtor.com

fstop123/Getty Images Few things are as exciting as purchasing a newly constructed home. There are a lot of factors that could make a brand-new home a less than ideal purchase. Buy buy a home home purchases warranty

Compass acquisition could worry some California agents

Housing Wire

Compass announced Monday that it has reached an agreement to buy San Francisco-based real estate transaction platform Glide , a deal that some California real estate agents may feel uneasy about. sales volume behind only Realogy , according to RealTrend’s 2020 tally.

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DOJ sues NAR for alleged antitrust violations

Housing Wire

We have reached an agreement that fully resolves the questions raised by the DOJ about the MLS system and commissions,” spokesperson Mantill Williams said in a statement to HousingWire. NAR also reached an agreement in 2008 with the DOJ to stop blocking web listings.

MLS 428

UWM expects big margin decline in Q2

Housing Wire

According to the wholesale giant ‘s quarterly earning statement, UWM posted a gain-on-sale margin of 2.19%, an 86 basis point decline from the 3.05% margin it posted in the fourth quarter. billion in purchase mortgages, up slightly from the $12.1

Tips To Sell Your House In Virginia This Fall

Realty Biz

Thousands of homeowners put up with the frustration of living in an unwanted property simply because they are afraid of going through the rigorous process of a house sale. Once you have agreed on an offer and arrived at a price, you’ll then sign a purchase agreement form.

Fairway breaks silence on UWM’s ultimatum

Housing Wire

Technology has given consumers the power of choice and expedited the entire real estate purchasing process. In an interview with HousingWire, Jacobson mostly wanted to discuss UWM’s broker agreement , specifically a passage in section 2.03

CFPB reverses pandemic flexibilities, vowing enforcement

Housing Wire

The information from these consumer reports are used to make many kinds of decisions, including whether a consumer can borrow money or how much he or she will pay in interest to finance a home or large purchase.

It’s official: QM rule compliance delayed until October 2022

Housing Wire

Today’s action means that lenders have more time to offer QM loans based on the homeowners’ DTI, and more time to use the GSE Patch, which provides QM status to loans that are eligible for sale to Fannie Mae or Freddie Mac.

10 Steps to Sell Your Multi-family Home for All It’s Worth

HomeLight

Today’s multi-family market is bustling with activity , saturated with aspiring and accomplished investors looking to purchase properties just like yours. In some circumstances, evicting a tenant may be necessary to secure a sale. The building’s value when last purchased.

The Most Common Home Buying Real Estate Contingencies

Realty Biz

Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. The home buying contingencies below should be completely understood before signing on the dotted line of a purchase and sale agreement.

Should You Sell Your House to a Flipper? 5 Key Considerations

HomeLight

House flippers usually purchase houses for cash as-is, saving homeowners the expense of making repairs that lenders might require, along with the stress of showing and staging the home. A traditional sale might be what you had in mind when you originally bought your home.

8 Tips for Selling a Rental Property: Navigating Taxes and Tenants

HomeLight

With tenant communications and handling repairs weighing on your to-do list, here’s what experienced rental property owners, landlords, and real estate agents say it will take to pull off a smooth rental property sale. Flipping, Investing, & Short Sales Selling Advice

Judge rules for Zillow in REX antitrust lawsuit

Housing Wire

Plaintiff has not supported its claim that there is any deception that is injuring a substantial portion of the purchasing public,” stated a Seattle federal court judge, Thomas Zilly.

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We Bought a House Sight Unseen—and It Turned Out To Be a Total Nightmare

Realtor.com

Katsumi Murouchi; ablokhin; Anna Peisl/Getty Images I thought I was up to the challenge of a long-distance home purchase during a pandemic. I had a trusted real estate agent from my last house purchase. That would have been great in my own long-distance home purchase.

Ocwen to buy $48B MSR package from AmeriHome

Housing Wire

Join us to learn how they are using new strategies to bypass these frustrations, ultimately leading to a pickup in loan sale profitability. AmeriHome purchased approximately $65 billion in conventional conforming and government-insured originations in 2020.

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