What should I discuss with my real estate attorney?

What questions should I ask my real estate lawyer?

7 Questions to Ask a Real Estate Lawyer When Buying

  • How Long Have You Been Practicing? …
  • What Do Your Closing Feed Include? …
  • What Should I expect In Terms of Process? …
  • What is My Title Insurance Premium? …
  • How Much Land Transfer Tax Will I Pay? …
  • Are There Tax Implications For My Transaction?

What should I ask for in a real estate contract?

Five questions to ask if you are a buyer

  • What is the current market like for a buyer in my price range and area? …
  • Do you think my budget and expectations are realistic in today’s market? …
  • How well do you know the area I’m looking to buy in? …
  • What is your schedule like, and how often can I get in contact with you?

How do you read real estate contracts?

Every real estate contract meets four requirements to be valid:

  1. A valid home purchase agreement must be in writing.
  2. The contract must contain an offer and an acceptance.
  3. The purpose of the agreement must be legal.
  4. There must be an exchange of things of value (usually, it’s money for property)
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What questions should I ask a previous homeowner?

You just bought a house: Here are 13 key questions to ask the prior homeowner

  • Why are you selling the home? …
  • What are the neighbors like? …
  • What home improvement project do you wish you had done? …
  • When was the roof replaced or repaired? …
  • How much did you pay for utilities?

Can a seller back out of a contract if they get a better offer?

Can a seller accept another offer while under contract? Often, people wonder if a seller can back out should they receive a better offer from another potential buyer. … But not to worry, once an offer has been accepted and a contract signed, sellers can no longer accept another offer from a different party.

Which of these does a home inspector not examine?

Most home inspectors don’t have the qualifications to look at plumbing and can only call out visible issues like a leak or outdated plumbing. This means they probably won’t look at your: Wall or undersink plumbing pipes. Swimming pools.

Which of the following factors is most likely to influence demand for real estate?

Which factor is MOST likely to influence demand for real esate? Wage levels and employment opportunities. When wage levels and job expansion are increasing, workers are more likely to buy real estate; when job opportunities are scarce or wage levels are low, demand for real estate usually drops.

How much earnest money should I put down?

A typical earnest money deposit is 1% to 5% of the purchase price. For new construction, the seller might ask for 10%. So, if you’re looking to purchase a $250,000 home, you can expect to put down anywhere from $2,500 to $25,000 in earnest money.

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How binding is a real estate contract?

A legally binding real estate contract must be signed by all parties involved and something of value must be exchanged. A handshake alone is not sufficient to legally seal an agreement. In addition to signatures, a contract must be sealed with a tangible commodity—such as cash, goods or services.

At what point is a house sale legally binding?

Exchange of contracts is the point at which the buyer pays a deposit and the sale/purchase contract becomes legally binding. Completion is when the balance of the payment for the property is passed over to the seller’s solicitor and ownership transfers to the buyer.

How many times should you view a house before buying?

How many times to look at a house before buying? Ideally, four to six viewings should be sufficient. Attending two to three visits inside, with a realtor and/or appraiser, and another two to three visits scouting the house and neighborhood independently, from the outside, may be a good approach.

What to ask sellers at closing?

6 Questions to Ask Your Home’s Seller Before Moving In

  • What’s the history of the house? …
  • Where to go and who to know? …
  • What surprised them when they moved in? …
  • Where is it and how does it work? …
  • Is there anything you’d like to leave? …
  • What did I forget to ask?

Can buyers and sellers talk to each other?

Can A Buyer And Seller Communicate Directly? While it is unethical for a REALTOR to speak to another agent’s client, there is nothing wrong with a buyer and seller communicating directly. They are not held to the same ethical standards. It is completely ok for a buyer and seller to directly speak to each other.

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