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.

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.


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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discussions between a buyer and seller regarding the potential zoning or future uses of a property are generally superseded by the written terms of the purchase agreement.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.

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.

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.

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


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.

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.

Short Sale Closing Costs: What Buyers Should Know


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?

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?


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.

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.

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


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


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.

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

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

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


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.

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

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.

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


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

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.

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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.

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


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.

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.

Selling a Home in a “Challenged” Location

The Living Room

And it’s good advice that we drum into all of our buyers that we represent —purchasing a home in an area with good schools, amenities and a safe neighborhood is the smart thing to do. “Location, location, location” is a common mantra in real estate.

What Is Buying a Foreclosure Really Like? 5 Homeowners Spill the Tea


They sold the Norwalk, Ohio, home three years after purchase for $160,000 — even though they’d intended to stay long-term, a job opportunity in Costa Rica proved too much to resist. He knew the market and what the home could capture in terms of sales price once it had been fixed up.

Our Home Buyer Wasn’t Approved for a Loan—What Now?

When buyers sign a purchase agreement, they typically put up a certain amount of money to show their commitment to buying a property. Called earnest money , this amount is held in escrow so neither party can touch it until the purchase process is complete.

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Can a Home Seller Under Contract Still Accept a Higher Offer?

When is a sale a sale? It is absolutely critical that, as a seller, you understand the purchase agreement and any counteroffers you sign. “Read the agreements to find out if you have any outs in the contract,” says Meyers.

How To Find A List Of Non-Disclosure States

Realty Biz

Real estate purchases and investments are major life accomplishments. Non-Disclosure Agreement (NDA) business concept. Businessman draw scheme representing Nondisclosure Agreement. Property disclosure agreements protect homebuyers from these kinds of fraud.

What is a Contingent House Listing?


But, what does contingent mean and how does it affect your purchase? However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals.

First Right of Refusal: What is it and How Does it Work

Realty Biz

When you’re buying a home, no matter if you’re a first-time buyer or someone who is onto their 50th property, you may find different clauses that will affect and define just how you can and can’t purchase a home you like or sell the one you currently live in.

Trump Organization Considers Sale of Its Seven Springs Property

estate, according to people familiar with the matter, after years of unsuccessful development attempts that ended with an agreement to preserve part of the property. Trump representatives have had conversations with local brokers about the possibility of a sale, the people said.

What Fixes are Mandatory After a Home Inspection?


Any requirements that need to be met by home sellers are largely dependent on three factors: What’s included in your purchase agreement. What does your purchase agreement say? However, the seller can still refuse to make any improvements, at the risk of losing the sale.

Guild Mortgage is going public – Let’s look at the numbers

Housing Wire

million Class A shares (plus an option for the underwriters, Wells Fargo, BofA Securities and JPMorgan Chase, to purchase 1.275 million additional shares). “Guild will not receive any of the proceeds from the sale of the shares in this offering.”.

Should You List Your House Before or After You Buy a New One?

RIS Media

If you currently own a house and you want to purchase a new home, you need to figure out when and how to handle both transactions. You may be tempted to purchase a new house and move into it before putting your current home on the market. How to Handle a Home Sale and Purchase.