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Typically, the responsibility for paying for a property survey can vary based on local customs and the terms negotiated in the purchase agreement. In many cases, the seller orders and pays for the survey to provide potential buyers with assurance about the property boundaries and conditions. However, buyers may also choose to conduct their own surveys, especially if they want to verify the information or if it's not provided by the seller. Ultimately, it's essential for both parties to discuss and agree on who will bear the cost before proceeding.
What else can I help you with?
What is a buyer and seller of goods called?
Buyer is a consumer Seller is a Distributor
What is the difference between CPT and CFR incoterms?
As per CPT incoterm, the destination terminal charges will be paid by the seller. In CFR, seller will be responsible for till payment of carriage charges, the rest buyer is responsible
What is that market where you have one buyer and one seller?
a market with one buyer and one seller is called bilateral monopoly.
What is IMFPA?
Irrevocable Master Fee Protection Agreementwhere you as buyer's or seller's mandatatry, who signs this IMFPA with either the seller or the buyer for claiming your commission.
In a sellers concession how does it hurt the seller?
A seller's concession is something the seller gives or gives up in order to make the sale. Therefore the seller's profit is reduced. However, seller's concessions are often used as a selling tool in a buyer's market. Many first time buyers need some seller's concessions in order to purchase the property. It depends on how much you want to sell. If you can afford to hold on to the property and do not need a sale at present, you can wait until the seller's market improves.
Who is responsible for a lost package: the buyer or the seller?
In general, the seller is responsible for a lost package until it is delivered to the buyer. Once the package is delivered, the responsibility shifts to the buyer.
What is the difference between ex-works and FOB?
Exworks: The seller is responsible for the goods till the factory outlet and after outlet, the buyer is responsible for goods, customs till the buyer's door. FOB(Free on Board): The seller is responsible for the goods till the port of departure where customs will be be looked after by seller and after departure from the seller's port, the buyer is responsible for the goods till the buyer's door.
What does active CNT misc mean?
It means the seller has agreed to sell the property to a buyer but there are contingencies. Typically those would be inspections, financing commitment, appraisal and survey.
Is the seller responsible for a stolen package?
In most cases, the seller is not responsible for a stolen package once it has been delivered to the buyer's address. It is the buyer's responsibility to ensure the security of their delivered packages.
Is the seller responsible for a lost package?
In general, the seller is responsible for a lost package until it is delivered to the buyer. After delivery, responsibility may shift to the buyer or the shipping carrier, depending on the terms of the sale.
Can the car seller be held responsible for the car loan of the buyer?
ABSOLUTELY NOT
What responsibility does a seller's agent have to the buyer in a real estate transaction?
A seller's agent has a responsibility to treat the buyer honestly and fairly, disclose any known material defects of the property, and provide accurate information about the property. They must also act in the best interest of their client, the seller, but still provide professional and ethical service to the buyer.
What Under an installment contract title to the property is held by?
Under an installment contract, title to the property is typically held by the seller until the buyer fulfills all payment obligations. During the term of the contract, the buyer has equitable title, allowing them to possess and use the property, while the legal title remains with the seller. Once the buyer completes the payments, the seller transfers legal title to the buyer. This arrangement helps protect the seller's interests until the full purchase price is paid.
What document is used by a seller to describe the condition of his property to the buyer?
transfer disclosure statement
What is the purpose of a good faith deposit in a house offer and how does it benefit both the buyer and seller?
A good faith deposit in a house offer shows the buyer's commitment to purchasing the property. It benefits the seller by providing assurance that the buyer is serious about the transaction. For the buyer, it demonstrates their sincerity and helps secure the property while the deal is being finalized.
What is the process for handling prepaid HOA fees at closing when purchasing a property?
Prepaid HOA fees at closing when purchasing a property are typically handled by the seller. The seller will provide the buyer with a statement showing the amount of prepaid HOA fees, which the buyer will then reimburse to the seller at closing. This ensures that the buyer takes over responsibility for the HOA fees from the date of closing onwards.
What is the purpose of a real estate good faith deposit and how does it protect both the buyer and seller in a real estate transaction?
A real estate good faith deposit is a sum of money paid by the buyer to show their commitment to purchasing a property. It protects the seller by ensuring the buyer is serious about the transaction and compensates the seller if the buyer backs out without a valid reason. It also protects the buyer by giving them time to conduct due diligence on the property before finalizing the purchase.
