This is a guide for Sellers and Buyers when selling or buying real estate. It is a great tool to educate you about the selling or buying process and also includes information on the real estate closing. State specific information about certain issues is included with the package.
Alaska LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate
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FAQ
Location: The Most Important Factor In Real Estate.
A 'Subject to Sale' offer is an offer on a property with a condition attached: the buyer has their own property that needs to be sold first. So, if you're looking to upgrade your home and put an offer like this on a property, that offer will only proceed once your own home is sold.
Buying subject-to means buying a home subject-to the existing mortgage. It means the seller is not paying off the existing mortgage. Instead, the buyer is taking over the payments. The unpaid balance of the existing mortgage is then calculated as part of the buyer's purchase price.
Step 1: Determine the fair market value of your home. You must get this step right. Step 2: Prepare the home for sale. Step 3: Market the home for sale. Step 4: Negotiate the sale. Step 5: Handle the closing.
What is the most important document in a real estate transaction and why? Contract of sale because it determines virtually all the important aspects of the transactionprice and other terms, property interest conveyed, grantee(s), conditions of the transaction.
Identify Your Financial Stage. Choose a Specific Real Estate Investing Strategy. Pick a Target Market. Decide Your Investment Property Criteria. Build Your Team. Line Up Financing. Raise Cash For Down Payments & Reserves.
The Deed: public record of the ownership of the property It often includes a description of the property and signed by both parties. Deeds are the most important documents in your closing package because they contain the statement that the seller transfers all rights and stakes in the property to the buyer.
Buying subject-to means buying a home subject-to the existing mortgage. It means the seller is not paying off the existing mortgage. Instead, the buyer is taking over the payments. The unpaid balance of the existing mortgage is then calculated as part of the buyer's purchase price.
Remove toys, equipment, and clutter from the yard. Repair/replace damaged shingles. Repair/replace light fixtures, doorbell, and doorknobs. Fix broken windows, shutters, and torn screens. Clean/repair gutters and HVAC units.