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What is a transaction in which a buyer and seller work out their own terms of exchange?
A transaction in which a buyer and seller work out their own terms of exchange is typically referred to as a private or negotiated transaction. In this scenario, both parties discuss and agree on specific terms such as price, quantity, and delivery conditions without external interference. This type of transaction allows for flexibility and customization to meet the unique needs of both the buyer and seller. It is commonly seen in various markets, including real estate, art, and certain goods and services.
Is a real estate contract considered completed after all addendums have been signed?
Not necessarily. It's going to depend on the terms and conditions of both the contract and the addendum. Moreover, completion doesn't actually occur until the transaction "closes" and title is transferred from the seller to the buyer.
I am Middleman for foreign Seller who have agreed to pay me commission after complete the business transaction how to ensure my commission being paid to me in my country?
Make sure you make both sign NCNDA but don't include IMFPA together with the NCNDA. Prepare a seperate IMFPA specially for the seller. This will hide the actual price from the buyer. drop me an email neo@tradexcellence.com I will forward you a sample...cheers!
Is a real estate agent a party to the transaction?
Usually a real estate agent is not a party to the transaction, unless that agent is either the seller or buyer or has an interest in either side. The fact that he may be representing either the buyer or seller or even both does not make him or her an interested party in the agreement. Most states real estate laws clearly state that should an agent have an interest in either side of the tranaction then both parties must be notified for that interest. Thats why you often see and agent sellling his own home, even as a for sale by owner, the advertising and signs should mention that the home is agent owned. Its all about ethics more than the law. From www.zerotorealestatehero,com
What do business brokers do?
Business brokers job is to help both the buyer and seller in the selling process. They can just be one person or a firm in most cases.
Who does a Real estate agent represent?
either the buyer or seller of a property There are several types of representation that a real estate agent may be hired to perform. The agent can be retained in a single agency representation to represent the seller or as a buyer-agent representing the buyer. Single agency results in a fiduciary relationship to either the buyer or seller, but not both. Dual agency is where the real estate agent owes a fiduciary relationship to both parties and is not permitted in many states. A real estate agent can also be retained to provide what is called transaction brokerage whereby they do not represent either the buyer or the seller but instead performs services to facilitate the transaction and would be bound to treat both parties fairly but does not owe a fiduciary relationship to either. When retaining the services of a real estate agent inquire as to the nature of their representation and who they in fact represent. Keep in mind that as their representation of a particular party to the transaction evolves, the representation obligations and fiduciary duties may change. It is obligation of the real estate agent to disclose in establishing a relationship and also if and when it changes during the transaction.
What is a transaction in which a buyer and seller work out their own terms of exchange?
A transaction in which a buyer and seller work out their own terms of exchange is typically referred to as a private or negotiated transaction. In this scenario, both parties discuss and agree on specific terms such as price, quantity, and delivery conditions without external interference. This type of transaction allows for flexibility and customization to meet the unique needs of both the buyer and seller. It is commonly seen in various markets, including real estate, art, and certain goods and services.
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.
In dual agency who pays the closing cost in a purchase transaction?
Dual agency occurs when one broker or salesperson represents both parties to a transaction, or when two salespersons licensed to the same broker each represent a party to the transaction. Closing costs are a negotiable item between the buyer and the seller in the purchase agreement.
What happens when demand meets supply?
Transaction happens when supply and demand meet. Both sides (a seller and a buyer) meet their needs: a seller gets money for its products (now he can manufacture next products) and a buyer gets product he needed.
How is the conversation between a mobile seller and a buyer?
The people who use mobility to sell products usually have a buyer and a seller that agree on a price. The next step is to set a meeting place and a time that is comfortable for both. Then, the buyer and seller exchange money and product and go their separate ways. In many cases it is a totally anonymous transaction.
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.
How does the buyer and seller exchange?
The buyer and seller exchange typically occurs through a negotiation process where the buyer expresses interest in a product or service, and the seller provides information, pricing, and terms. Once both parties agree on the terms, a transaction takes place, often involving payment from the buyer and delivery of goods or services from the seller. This exchange can happen in various settings, including physical stores, online platforms, or through direct communication. Ultimately, it concludes with the buyer receiving what they purchased and the seller receiving compensation.
What will happen to the prices in the market if the supply and demand meet at the equilibrium?
Transaction happens when supply and demand meet. Both sides (a seller and a buyer) meet their needs: a seller gets money for its products (now he can manufacture next products) and a buyer gets product he needed.
Can you explain how private car sales work?
Private car sales involve individuals selling their vehicles directly to other individuals, rather than through a dealership. The seller advertises the car, negotiates a price with the buyer, and completes the sale transaction. The buyer typically pays the seller directly, and both parties handle the necessary paperwork to transfer ownership of the vehicle. It is important for both the buyer and seller to conduct due diligence, such as inspecting the car and verifying its history, to ensure a smooth and fair transaction.
Do you need a bill of sale when transferring a title?
Yes, a bill of sale is typically needed when transferring a title to provide a record of the transaction and to protect both the buyer and seller.
How does the venmo escrow service work for ensuring secure transactions?
Venmo's escrow service works by holding the funds from a transaction in a secure account until both parties confirm that the transaction is complete. This helps ensure that both the buyer and seller fulfill their obligations before the funds are released, providing a level of security for the transaction.
