When purchasing real estate, one of the first questions a buyer is asked is “how do you wish to take title?” While it seems like such a simple question, it is really quite the opposite. On almost every transaction, the title agent is asked to provide the buyer with the “correct” way to take title….
Under the terms and provisions of section 8. FINANCING of the most recent versions (04/2017) of both the “AS IS” and the “Standard” FR/BAR Contracts*, buyers seeking the protections afforded in these financing contingency clauses must “use good faith and diligent effort to obtain approval of a loan meeting the Financing terms (“Loan Approval”) and…
Often real estate contracts include additional terms or addenda that provide for a “seller credit”. These typically take the form of a credit from the seller to the buyer, with the purpose for and amount of the credit negotiated between the parties. Sometimes credits are negotiated as part of the initial sales contract, and sometimes…
